Halifax’s Volta Labs announced this week that they are moving into a 20,000 square foot facility in downtown Halifax to support a maturing startup community.
The Halifax Startup House will be moving into the 6th and 7th floors of the Maritime Centre on August 1 as an interim home while they they wait for a ruling on the old Memorial Library.
Since opening in May 2013 Volta has accepted 34 tenants, of which 22 have already graduated, and there are over 300 network members who use the co-working space.
Over the last two years companies at Volta were supported until they hired six full-time employees, achieved $500,000 in revenue, or for a period of one year. By moving into the Maritime Centre, they are now able to allow companies to stay longer if they’re making meaningful progress.
“We received feedback that startups needed support past the launch stage, and the majority of other programs focus on the early stages, so with more space and resources Volta can now support them during the growth stage with sales training and focused programs,” says Volta executive director Melody Pardoe.
The majority of Volta companies have raised at least $50,000 in funding. With over $23 million in equity investment raised in two years, Volta has attracted and assisted companies judged to have a high chance of success by seasoned investors.
One of their alumni, Compilr, has been aquired by US based Lynda.com for a reported $20 million.
Over 2,400 people have attended their 164 educational events delivered on business and technology related topics, not to mention the increase in youth programming being delivered at Volta.
The companies Volta has incubated have created over 160 jobs so far.