New Dawn Innovation Fund launches 2013 CEDIF
(Sydney, NS) – New Dawn is pleased to announce the establishment of the New Dawn Innovation Fund Limited, a vehicle for Community Economic Development Investment Funds (CEDIF) in Cape Breton. The fund provides Nova Scotians the opportunity to support three local, export-driven, innovation-based companies in the fields of arts and culture, education, and energy. The New Dawn Innovation Fund’s 2013 campaign aims to raise $1.6 million to be invested in Marcato Digital Solutions, Advanced Glazings, and MediaSpark.
“We are excited about this year’s investment opportunity,” says Rankin MacSween, Corporate Secretary of New Dawn Innovation Fund. “Each of the three companies has a compelling story and has demonstrated international leadership in their respective industries. They are contributing to the community through the generation of new jobs and injecting wealth into the local economy; that’s something to celebrate and support.”
Award-winning educational software development and publishing company MediaSpark was founded in 1994 by Mathew Georghiou. MediaSpark’s products have been sold to thousands of customers in every American state and Canadian province, as well as several countries around the world. Over a million youth and adults are learning using MediaSpark’s products. Their soon-to-be-released “GoVenture World” educational global business game was recently selected as one of the 50 brightest new startups in the world.
Advanced Glazings has installed its state-of-the-art daylighting glass in numerous commercial applications across North America and has recently partnered with Cabot Corporation in Boston to develop and market its newest product, Solera + Lumeria, which offers superior daylight with R-18 insulation value—what management considers the best-insulating commercially available glass product in the world. Their products are developed, manufactured, and marketed at a 26,000-square-foot production facility in Sydney.
Founded in 2008 by Darren Gallop and Morgan Currie, Marcato Digital Solutions is transforming the way the music and festival industry does business through its web-based planning and logistics software. Their products are currently being utilized in Cape Breton by the Celtic Colours International Festival, and by other world-renowned events such as JunoFest in Canada, Berlin Music Week in Germany, and the Life is Good Festival in the United States.
New Dawn Innovation Fund investors must purchase a minimum of $1,000. Shares purchased are eligible for a 35 per cent non-refundable provincial income tax credit. The investment is RRSP-eligible and can be made with new funds or by transfer of funds from an existing RRSP. The deadline to invest is March 1, 2013.
To arrange an interview, please contact Peter Cameron at 539-5960 ext. 0.