Boost­ing busi­ness

In­no­va­tion P.E.I. funds tar­get new and emerg­ing busi­nesses

The Guardian (Charlottetown) - - BUSI­NESS -

Is­land en­trepreneurs are en­cour­aged to take ad­van­tage of two pro­vin­cial de­vel­op­ment funds that take project ideas from con­cept to com­mer­cial pro­duc­tion.

In­no­va­tion P.E.I. is seek­ing fund­ing ap­pli­ca­tions from busi­nesses un­der the Pi­lot and Dis­cov­ery Fund and the De­vel­op­ment and Com­mer­cial­iza­tion Fund.

Al­most 100 projects have been sup­ported through these funds to date. The most re­cent re­cip­i­ents of the Pi­lot and Dis­cov­ery Fund in­clude Job­Site to Go, Em­ploy P.E.I., BFN TechPEI and Max­i­mum Per­for­mance and Nu­tri­tion.

Com­pa­nies who have ben­e­fit­ted from the De­vel­op­ment and Com­mer­cial­iza­tion Fund in­clude En­gi­neer­ing Tech­nolo­gies Canada Ltd., Max­imus Canada Services, Inc. (Deltaware Sys­tems), Somru Bio­science Inc., Mugisha En­ter­prises Inc. and Fron­tier Power Sys­tems Inc.

“The Pi­lot and Dis­cov­ery Fund pro­vided in­valu­able sup­port as we worked to re­fine our prod­uct and ex­plored var­i­ous op­tions for get­ting it to mar­ket,” said Peter Douglas, owner of Job­Site To Go. “It’s a great busi­ness sup­port and I re­ally en­cour­age other busi­ness own­ers to ap­ply for fund­ing.”

“The Pi­lot and Dis­cov­ery Fund al­lows Is­land busi­nesses and re­searchers to pur­sue the pi­lot stage of their projects, while the De­vel­op­ment and Com­mer­cial­iza­tion Fund as­sists busi­nesses that are be­yond the pi­lot stage and into full com­mer­cial de­vel­op­ment,” said Eco­nomic De­vel­op­ment and Tourism Min­is­ter Heath MacDon­ald. “As the prov­ince’s lead eco­nomic de­vel­op­ment agency, In­no­va­tion P.E.I. is pro­vid­ing sup­port to help in­no­va­tors ex­plore the com­mer­cial po­ten­tial of their work.”

For in­for­ma­tion on the Pi­lot and Dis­cov­ery Fund and the ap­pli­ca­tion process, visit­no­va­tion­ nd. For in­for­ma­tion on the De­vel­op­ment and Com­mer­cial­iza­tion Fund, visit­no­va­tion­ /dc­fund.

Ap­pli­ca­tions will be ac­cepted un­til Jan. 22.

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