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ACOA announces $9.8 million investment in Springboard

Atlantic Canada is home to 19 post-secondary institutions, full of students and researchers doing cutting-edge work and entrepreneurs with startup ideas. The region’s success depends on their success.

To secure Atlantic Canada’s competitive edge, we must support these problem solvers and make sure they reach their full potential. That’s why Budget 2024 proposes to invest heavily in cutting-edge research – to create more good jobs, including in innovation and technology.

Today, the Honourable Gudie Hutchings, Minister of Rural Economic Development and Minister responsible for ACOA, announced a contribution of over $9.8 million to help Springboard Atlantic and its partners bring researchers and industry together, and take homegrown, world-class ideas to market. Springboard’s 19 member institutions are contributing an additional $5.2 million.

Minister Hutchings was joined by Andy Fillmore, Member of Parliament for Halifax. Before the announcement, Minister Hutchings and Mr. Fillmore toured NovaResp Technologies and 3DBioFibR to learn more about these companies and their connection to Springboard Atlantic.

Springboard Atlantic is celebrating its 20th anniversary this year. It exists to drive growth in key sectors, including advanced manufacturing, ocean sustainability and clean energy. For examples of how Springboard Atlantic and its network are helping these sectors, please see the backgrounder.

Today’s announcement further demonstrates the Government of Canada’s commitment to ensuring Atlantic Canadian businesses can access and benefit from research developed in the region’s world-class learning institutions, so they can compete in a global economy and accelerate the region’s economic momentum.