5 May 2010
Moncton, New Brunswick
The Honourable Keith Ashfield, Minister of National Revenue, Minister of the Atlantic Canada Opportunities Agency (ACOA) and Minister for the Atlantic Gateway, today launched a new round of funding under the Atlantic Innovation Fund (AIF).
“Our government continues to encourage Atlantic Canadian entrepreneurs and researchers to undertake world class leading edge research that will help drive the region’s long-term economic growth and development. I am pleased to launch this new round of funding under the Atlantic Innovation Fund which has been instrumental in helping Atlantic Canadian businesses, universities and research institutions collaborate on ideas and commercialize new products and services,” said Minister Ashfield.
“Just four months ago, along with my colleague Minister MacKay, I had the pleasure of announcing in the previous round of AIF, funding for 30 research and development projects throughout Atlantic Canada. With this new round launched today, we will be investing in projects that will increase competitiveness and research capacity, create jobs and develop a highly-skilled workforce. I encourage the region’s businesses and research institutions to take full advantage of this round of AIF funding,” added Minister Ashfield.
ACOA’s Atlantic Innovation Fund encourages the commercialization of research and development in Atlantic Canada. The fund has been an important catalyst for many Atlantic Canadian businesses, universities and research institutions, creating more than 680 partnerships to help commercialize innovative ideas, products and services. The commercialization of this home grown research helps grow our economy, builds institutional and private sector capacity, supports the development of emerging clusters, and increases trade and investment.
Since 2006, including the results of the round announced in January 2010, the AIF has committed over $343 million in assistance to 145 highly innovative R&D projects across the region valued at over $775 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 June 15, 2010, and the deadline for submitting complete project proposals is September 1, 2010. Detailed information is available on ACOA’s website: http://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:
National Revenue and ACOA Minister Keith Ashfield 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 research and development which, once commercialized, will help to build a stronger and more competitive economy in Atlantic Canada and the country as a whole. Mandatory letters of intent must be submitted by June 15 and complete project proposals are due September 1, 2010.
For more information, visit the ACOA website : www.acoa-apeca.gc.ca
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INFORMATION:
Michèle Bernier
Senior Communications Officer
Atlantic Canada Opportunities Agency
Moncton, New Brunswick
506-851-2132
