Ecology Action Centre calls for immediate implementation of Coastal Protection Act | SaltWireThe other day when I asked John Risley, who has owned superyachts and raced Shelby Cobras, whether he has much time for sailing or tooling around in high-performance automobiles these days, I swear I could hear him shake his head across the cellphone connection.
“The common theme is that all of these businesses are based on a technology that is brand new to the industry in which they are trying to compete,” he said. It was the starting point for the region’s great inter-generational business families — the Sobeys, Irvings and McCains — who got going at a time when Atlantic Canada was a have-not area with a second-level economy.
Atlantic Canada is have-not no more. The path to innovation is also different in this post-industrial age, said Risley. A smart person goes to university, gets a graduate degree, then takes their thesis about some technological breakthrough and turns it into a business, around which other like-minded individuals coalesce.
Thus was the case with Ocean Nutrition, which was nothing more than an idea when Risley and some partners started it in 1997. “So, we determined that we should just roll up our sleeves and try to figure out how to make money in Omega 3s,” Risley said of the company that he would sell for $540 million.Stories like this are going to become more common in a region with a business community that, in Risley’s opinion, is “undergoing a revolution.”Young people are going to university and staying here after graduating. The region’s business and tech incubators are overflowing.
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