BioNova Announces MycoFutures North Atlantic as the Winner of the Eleventh Annual BioInnovation Challenge (BIC) at BioPort 2021

HALIFAX, Nova Scotia--(BUSINESS WIRE)--MycoFutures North Atlantic from Newfoundland was named the winner of BioNova’s Eleventh annual BioInnovation Challenge (BIC) business pitch competition at BioPort 2021. The company is leveraging the complexity and sustainability of mycelium, the root system of fungi, to create a luxurious leather alternative that will help alleviate the environmental impact of natural and synthetic leathers currently on the market.

“The BioInnovation Challenge provided us with invaluable investment attraction training and resources to launch our startup with the right business plan and strategy,” said Stephanie Lipp, CEO & Co-founder, MycoFutures North Atlantic. “It was an incredible opportunity and we look forward to building a successful company right here in Atlantic Canada."

This year, the top three BIC finalists all had a focus on sustainability, producing high value products that are beneficial to human health and the environment. From Newfoundland came winners MycoFutures North Atlantic, competing beside finalists Bactana Canada Corp. and Au Naturel Solutions Inc. both from Prince Edward Island.

The goal of the competition is to help ease the transition from research laboratory to market. MycoFutures North Atlantic will receive a prize package that includes $25,000 in seed funding and an advisory services package worth more than $30,000.

"Our competition provides high-potential startups coming from the regions health and life sciences sector with sector specific mentorship and resources they need to attract investment and bring their products to market," said Scott Moffitt, Executive Director, BioNova. "We hope to see continued support from our regions government, academia, healthcare, and others for this high-value accelerator."

The Judging Panel:
Jennifer Chan - Executive Director, Policy and Government Affairs Merck Canada Inc.
Jennifer Hamilton, PhD- Senior Director, New Ventures (Canada) and Advisor, Impact Investing, J&J Global Community Impact
Doris Grant - Senior Director, Innovation at Nova Scotia Health Authority

About BioNova
BioNova leads the Health and Life Sciences sector in Nova Scotia and is the host of the BioPort Conference, the BioInnovation Challenge and BIC Junior. Our industry-led sector growth plan, BioFuture 2030, has made us the fastest growing sector in Atlantic Canada. We represent over 150 companies in Nova Scotia who have raised over $73 million in investment dollars since the beginning of 2020. Visit our website at www.BioNova.ca

About BioPort
BioPort provides a forum to educate, inform and inspire the health and life sciences community to develop their ideas, commercialize their technologies and build links within the region and with guests brought in from the U.S. and from around the world. For more information visit www.bioportatlantic.ca. | https://bioport-2021.heysummit.com/

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