by Maria Driscoll

The single largest investment in innovation for Prince Edward Island was announced today by the Government of Canada. Seven Prince Edward Island projects will receive a total of $25.5 million from the Atlantic Innovation Fund (AIF) to help boost Atlantic Canada’s capacity to compete in the global, knowledge-based economy.

The $25.5 million in funding was announced today by the Honourable Lawrence MacAulay, Solicitor General of Canada and Member of Parliament for Cardigan, Mr. Joe McGuire, Member of Parliament for Egmont, Mr. Wayne Easter, Member of Parliament for Malpeque, and Mr. Shawn Murphy, Member of Parliament for Hillsborough, on behalf of the Honourable Gerry Byrne, Minister of State for the Atlantic Canada Opportunities Agency (ACOA).

The projects, valued at close to $63 million, will contribute to the growth of new and emerging Island industries such as aerospace, nutraceutical products, aquatic health sciences and justice learning.

“These projects are proof that Islanders have the capacity to innovate and compete with the best in the world,” said Minister MacAulay. “They demonstrate what we are trying to achieve with the Atlantic Innovation Fund - to stimulate partnerships among universities, research centres and industry leaders with the goal of moving more of our cutting-edge research from the labs into the marketplace.”

Although not able to attend the news conference, Minister Byrne stated, “Atlantic Canada is seeing growth in a number of new and emerging sectors and our traditional industries are increasingly adopting new technologies that are helping them to better compete outside the region. I am confident these projects will lead to the development of new business opportunities and export markets, and the continued creation of good quality jobs for Atlantic Canadians.”

“The aerospace industry is an important sector of the Prince Edward Island economy. I am confident that these projects will lead to the development of new business opportunities and the creation of quality jobs for people in this province,” added MP Joe McGuire.

“Prince Edward Island is increasingly becoming a hub for world-class research in a number of key sectors, and the investments from the Atlantic Innovation Fund will help leverage more commercialization and business growth from these efforts,” said MP Wayne Easter.

MP Shawn Murphy added, “I am delighted that AIF investments are being made in our cluster of research facilities in Charlottetown. FTC is a leading edge technology transfer model and UPEI has a diversity of first-class, industry-relevant research centres. These two facilities are helping to maintain the viability of some of our key industries, and to promote innovation and growth in promising new sectors.”

The following projects will receive AIF funding:

MDS-PRAD Technologies Corporation will receive $2 million to develop erosion resistant protective coatings for application on gas turbine engine compressors. The research and development of additional coating products will also be undertaken for other processes with the longer term goal of positioning MDS-PRAD as one of the world=s premier sources of protective coating products.

The University of Prince Edward Island, through the Atlantic Veterinary College Lobster Science Centre, (AVCLSC) will receive $3.3 million to undertake a project that will enhance the R&D capacity for lobster health in Atlantic Canada. The project involves the examination of diseases in lobsters and the development of vaccines, diagnostic tools and a lobster research database for the industry. Total value of project: $5.5 million.

The Atlantic Canada Network on Bioactive Compounds will receive $2.7 million to focus on researching and analyzing the bioactive compounds extracted and/or derived from roses (rose hips) and blueberries, which show great commercial potential. Research and development on bioactive compounds in these two areas will generate and improve linkages and/or partnerships among universities, the private sector and other research institutions. Total value of project: $4.35 million.

FTC Enterprises Ltd. will receive $4.9 million to undertake the “Atlantic Natural Products Development Initiative” with private sector partners, which will focus on research and development (R&D) identified by the private sector. The R&D will evaluate the benefits of two specific technologies: extraction technologies involving a new family of eco-friendly solvents and technologies using state of the art equipment for supercritical fluids extraction. The R&D activities will result in the development of a series of technical processes and products utilizing environmentally friendly extraction processes. Total value of project: $7.5 million.

The Centre for Aquatic Health Sciences will receive $2.1 million to facilitate and coordinate aquatic health sciences research, field services, industry support and educational services, so as to increase and expand the economic value of Atlantic Canada’s aquatic animal food industries. The Centre will provide such services as laboratory, aquatic health sciences personnel and administration to respond to urgent and ongoing health research and service needs. Total value of project: $5.5 million.

Atlantic Turbines International Inc. (ATI), headquartered at Slemon Park, PEI, will receive $4 million to launch a comprehensive research and development initiative known as a “Centre of Repair Excellence.” This project will allow ATI to research and develop state-of-the-art engine repair techniques, positioning the company as an industry leader in areas of gas turbine engine maintenance and restoration. Total value of project: $18.9 million.

The Justice Knowledge Network (JKN) initiative will receive $6.5 million to create a comprehensive network of services, products, tools and technologies for law enforcement/correctional services organizations and their members. The project will focus on the emerging market of justice training by researching and developing new IT solutions and technologies. Total value of project: $14.9 million.

On July 2nd, Minister Byrne officially announced that a total of 47 projects throughout Atlantic Canada would receive total funding of $155 million through the Atlantic Innovation Fund?s first Request for Project Proposals. Overall, the 47 initiatives, including the ones announced today, represent total project costs valued at nearly $400 million.

The project proponents have leveraged additional funding from a variety of private and public sector sources, including contributions from national funding programs such as the Canada Foundation for Innovation and Technology Partnerships Canada.

On July 2nd, Minister Byrne also announced that he would be initiating a second round of AIF funding by issuing a Request for Project Proposals in the coming weeks.

 

The $300-million Atlantic Innovation Fund is a five-year Government of Canada initiative that is administered by ACOA. It is designed to build the economy of Atlantic Canada by increasing the region?s capacity to carry out leading edge R&D that directly contributes to the development of new technology-based economic activity in the region. Specifically, the Fund is aimed at increasing the R&D being carried out in Atlantic research facilities leading to the launch of new ideas, products, processes and services.