The Honourable Keith Ashfield, Minister of State (Atlantic Canada Opportunities Agency), today launched a new round of funding under the Atlantic Innovation Fund (AIF).

“The future commercial success of Atlantic Canadian companies and our long-term prosperity requires continued investment in research and development. I am delighted to launch this new round of funding under the Atlantic Innovation Fund, a program which aims to help our entrepreneurs and researchers turn good business ideas into products and services that are sought after in markets around the world,” said Minister Ashfield.

“Just last month, along with my colleagues Minister MacKay and Minister Shea, we had the pleasure of announcing $51.8 million in funding for 24 R&D projects throughout Atlantic Canada. Under this new round launched today, we will be investing in projects designed to stimulate innovation, sharpen our competitiveness and help to increase trade and investment. I urge the region’s businesses and research institutions to take full advantage of this round of AIF funding,” concluded Minister Ashfield.

ACOA’s Atlantic Innovation Fund encourages the commercialization of research in Atlantic Canada and has been a key driver for many Atlantic Canadian businesses, universities and research institutions. It has enhanced Atlantic Canada’s reputation for innovation and, through the success of the projects it has funded, the AIF has contributed significantly to the region’s research, development and economic performance. Since 2006, the AIF has committed over $280.7 million in assistance to 115 highly innovative R&D projects across the region valued at over $663 million.

Eligible proponents – which include private sector businesses, universities, colleges and other research organizations – are required to submit a mandatory letter of intent, followed by a complete project proposal. The deadline for submitting mandatory letters of intent is March 31, 2009, and the deadline for submitting complete project proposals is May 20, 2009. Detailed information is available on ACOA’s website: www.acoa-apeca.gc.ca. Proposals will be evaluated against the AIF’s objectives and criteria and forwarded to the AIF Advisory Board, which is composed of people from across Atlantic Canada with expertise in research and development, business and economic policy.

FOR BROADCAST USE:

The Honourable Keith Ashfield, Minister of State (ACOA), today invited businesses, universities and research institutions to submit proposals under a new round of the Atlantic Innovation Fund. The Atlantic Innovation Fund is designed to increase Atlantic Canada’s ability to carry out leading-edge R&D. Mandatory letters of intent must be submitted by March 31, and complete project proposals are due May 20.

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INFORMATION: 

Nathanaël Richard
Senior Communications Officer
Atlantic Canada Opportunities Agency
Moncton, New Brunswick
506-851-2132