Clever Fruit Products (“Clever Fruit”) is pleased to announce it has been selected as one of the winners of Innovacorp’s Spark Innovation Challenge competition. With 136 competitors in attendance, Clever Fruit won a top prize of $50,000 for its innovation of a new natural product focused on cholesterol health. The Spark Innovation Challenge is an open competition held by venture capitalist Innovacorp, with a goal to identify and support early stage technology companies with high-potential.
“We are excited to win the $50k and mentoring that comes with being a Spark Innovation Challenge winner. The competition itself was a great learning experience as we advanced our market understanding and enjoyed the training and feedback we received,” said Sean Sears, Executive Chair of Clever Fruit. “Clever Fruit is a big idea with immense potential and we look forward to working with Innovacorp.”
Funding will be used by Clever Fruit to identify the most achievable early target markets. With more than 700m people worldwide suffering from high-cholesterol, we aim to identify and impact a market desperate for a new solution.
Established in 1995 and based in Halifax, Innovacorp is Nova Scotia’s early stage venture capital organization. Target industries include information technology, clean technology, life sciences, and ocean technology. Innovacorp also provides world-class incubation facilities, expert advice, and other support to help accelerate early stage companies with high-potential.
About Clever Fruit Products:
Clever Fruit Products (“Clever Fruit”) is a functional food ingredients manufacturer targeting improved health outcomes. Clever Fruit’s technology is a unique approach to fermentation that draws out the full nutrient profile of the underlying fruit while creating new compounds. While Clever Fruit’s proprietary process can work with any fruit, its focus is on wild blueberry, apple, and cranberry. Its initial product is based on the wild blueberry and early trials suggest a potential to reduce cholesterol by 40% and reduce LDL oxidation, lowering the possibility of plaque formation in the arteries.
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