HALIFAX - After a five month challenge to identify high potential early stage Nova Scotia-based companies, venture capitalist InNOVAcorp has selected a winner of its popular I-3 Technology Startup Competition. MorSwift Machines Inc., a manufacturer of pneumatic banding machines from Digby, NS, was awarded the $100,000 seed equity prize from InNOVAcorp. The judging panel gave the nod to MorSwift's novel, high-speed, semi-automatic rubber banding system, which is poised to make a big impact in the international packaging industry.

Launched on September 13, 2007, I-3 was a province-wide competition taking place simultaneously in five geographic zones across Nova Scotia. Watch the remarkable stories of the five finalists in the video below:

The I-3 in the competition's name stands for Idea, Innovation, and Implementation, the early steps in the commercialization process. The purpose of the competition was to identify and support high potential early stage Nova Scotia knowledge-based companies, and encourage entrepreneurial activity across the province. InNOVAcorp received 121 formal competition submissions from entrepreneurs across the province. To learn more about InNOVAcorp and the competition, please refer to their press release.