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Major Investments To Support Innovation In PEI

As part of the Government of Canada’s Economic Action Plan 2012, the Honourable Gail Shea, Minister of National Revenue, today announced investments to support and promote innovation and research and development in
Prince Edward Island. This includes funding for projects to enhance Prince Edward Island’s reputation in sectors such as food processing, aqua-health and bioscience.

“Our Government’s top priority is creating jobs, growth and long-term prosperity. We recognize that innovation and research and development are crucial to a competitive economy and the creation of new, high-value jobs,” said Minister Shea, on behalf of Bernard Valcourt, Minister of State for the Atlantic Canada Opportunities Agency (ACOA) and La Francophonie. “The variety of projects being funded in Prince Edward Island speaks to the diversity of talent and expertise living and working in our province.  From improved food processing technology to treating sea lice infestations in cultured salmon, our private and public sector research community is creating game-changing technologies.”

Today’s announcement is in support of 21 innovative research and development (R&D) projects in Atlantic Canada being funded under Competitive Round 2011 of the AIF. In
Prince Edward Island, the Harper Government is investing $6.8 million in three new R&D projects under AIF.

The Request for Letters of Intent and Project Proposals for AIF Competitive Round 2012 is now underway. Private sector enterprises, universities, colleges and research organizations are invited to submit a letter of intent by
2:00 p.m. on June 28, 2012, followed by a project proposal by 2:00 p.m. on September 26, 2012, to apply for funding.

The Atlantic Innovation Fund encourages partnerships among private sector firms, universities, colleges and other research institutions to develop new or improved products and services. Hundreds of technologies, products, processes and services developed with the support of the AIF were successfully commercialized, resulting in millions of dollars in incremental sales.

For a complete list of AIF-funded projects, visit