A new wearable technology company in Halifax is receiving $50,000 in funding and business guidance through Innovacorp’s Spark Innovation Challenge. The business, Axem Neurotechnology, is one of four winners selected in the Spark Halifax region of the province.

Axem co-founders, Tony Ingram and Chris Friesen, are developing wearable devices that help professional athletes track and monitor performance. Their product is a brain-sensing headset that measures the quality of mental practice and connects to a smart phone application.

“Participating in the Spark Innovation Challenge will help us further develop our business,” said Mr. Ingram. “Now we’re closer to finishing our prototype and testing our devices with local athletes.”

The challenge expanded across the province this year, with winners in each of the four competition regions receiving up to $50,000 in funding and mentorship from seasoned business professionals. The four regions were Spark West, Spark North, Spark Halifax and Spark Cape Breton.

The first province-wide Spark Innovation Challenge attracted 136 submissions. Thirty-eight finalists pitched their ideas to a panel of judges. Finalists also participated in several business workshops and received one-on-one financial advice.

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