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Next Round Of AIF Announced

Atlantic Canadian businesses seeking to further develop innovative products, services or technologies, as well as researchers looking for support to bring ideas from the lab to the marketplace, can now ready themselves to apply for the next round of the Atlantic Innovation Fund (AIF).

The Honourable Gail Shea, Minister of National Revenue and Minister for the Atlantic Canada Opportunities Agency (ACOA), today announced that eligible businesses, research organizations and post secondary institutions will have until August 14, at 2:00 p.m. AST to submit a mandatory letter of intent for the latest round of AIF funding. The deadline for completed project proposals is November 6, at 2:00 p.m. AST.

“Just last month, I had the honour of accompanying Prime Minister Harper as he announced close to $40 million under the Atlantic Innovation Fund for 17 innovative projects in Atlantic Canada,” said Minister Shea. “As part of our Government’s commitment to helping Atlantic companies bring their innovative products and services to the market, I am pleased to officially launch the application process for the next competitive round of funding under the AIF.”

The Atlantic Innovation Fund is the Government of Canada’s flagship program in the region for fostering innovation that helps bring new or improved products, processes, technologies and services to the marketplace. Investing in innovation helps businesses grow by improving their bottom line and competitiveness, streamlining processes, increasing productivity and sales, lowering costs, attracting new customers and breaking into new markets.

Since its launch, the Atlantic Innovation Fund has been helping Atlantic Canadians compete in a global knowledge-based economy through the development and commercialization of new and innovative products and services. In Economic Action Plan 2010, the Government ensured that funding for the AIF would be permanent. Since 2006, Atlantic Canada companies and institutions have received $503.8 million in support under the Atlantic Innovation Fund.

To find out more about the Fund and see examples of Innovation at Work, visit: www.acoa.gc.ca