BEAVER BANK: An aeronautics business based out of Beaver Bank has just completed a year-long pilot project designed to help high-tech companies tap into Northeastern U.S. markets.
Aerotec Engines, located on Windgate Drive in Beaver Bank, was one of three Halifax-area business that participated in Scale-Up Hub: Cambridge, in Massachusetts.
Besides Aerotec Engines, other companies involved were 4Deep Inwater Imaging and MindSea, both from Halifax. All three are reporting positive return on sales, increased job growth, and the development of strategic partnerships.
“It’s helped us grow our business with a go to market strategy,” said Aerotec’s director, sales and marketing, Philip Burchinsaw. “We were able to capitalize on that using the Canadian Consulate and consultants in the background.”
VIDEO: Philip speaks about benefits of Scale-Up Hub
He said that has meant immediate increase in sales for the business, and the addition of new jobs at its location.
“We’ve increased revenues, we’ve been able to invest in Aerotec, and with that comes more employees,” said Burchinsaw. “Our company has grown significantly in size because of this program.”
Nova Scotia Business Inc. (NSBI) invested about $260,000 to build, promote, and activate the program. The participating companies had to commit time and pay a program fee. Through their participation they have generated over $2 million dollars in new, incremental sales in New England.
The program provided companies with access to a dedicated in-market business development consultant and collaborative working space in Cambridge for one year. Companies used the Scale-up Hub services to seek out meetings with potential customers and partners.
Beyond sales, many in-market connections and partnerships were established over the pilot year, enhancing cross-border collaboration between Boston’s large innovative economy and Nova Scotia’s growing technology-driven companies. This includes a formal partnership between the Scale-Up Hub and the MIT Enterprise Forum Cambridge.
Burchinsaw said it’s important for businesses to step outside their comfort zone and ask for help when needed.
“It’s important that companies don’t operate in their own bubble and they look for assistance from a local business association, like the Fall River and Area Business Association (FRABA), the NSBI website and the programs that may be applicable, EDC, BDC, and more.
“I don’t think a lot of Nova Scotia companies think about how they can use those resources to grow their companies.”
Companies interested in the next intake period for the program should contact scaleuphub@nsbi.ca .