Province is to provide fiscal backing for innovative Island businesses
Research- based and innovative Island businesses will be assisted in taking proven projects into commercial scale production with grants announced this week, says Innovation and Advanced Learning Minister Allen Roach.
“The projects we are backing have passed the test of research, have been proven as pilots and prototypes, and are preparing to enter the marketplace,” said Roach.
“These projects have been chosen because of their potential to lead to strong economic development within Prince Edward Island, and the opportunities they will allow for future economic development.”
Innovation P. E. I. has approved eight projects under the Development and Commercialization Fund at a total investment of up to $ 800,000. The fund matches the recipients’ investments in an approved project up to a maximum of $ 100,000 per project.
The Development and Commercialization Fund will support some Islandbased businesses and researchers who have moved beyond the prototype and pilot state, have tested and developed a product, and wish to move toward manufacturing or commercial scale production.
The following were successful applicants to Innovation P. E. I.’ s Development and Commercialization Fund:
pureSCM – Unify Connector Platform;
Stewart Mussel Farms – Automatic Mussel socking machine;
GetGifted – Expansion and scalability;
Portsmouth Atlantic – Modular Military Air Filtration System;
SpryPoint – Mobile platform for field service professionals;
Acadian Machine Works – Tractor Mounted Blueberry Harvester;
Worklinks – Agnostic Automated Rules Engine;
Trout River – Construction of a Light Weight Trailer.
For more information on Innovation P. E. I. and its programs, visit www. innovationpei. com.