14 March 2011
SUMMERSIDE , Prince Edward Island
Atlantic Canada will continue to grow as a leader in innovation, thanks to new investments that will help researchers and entrepreneurs move their cutting-edge research and development (R&D) from the lab to the marketplace. The announcement was made by the Honourable Gail Shea, Minister of Fisheries and Oceans, on behalf of the Honourable Keith Ashfield, Minister of National Revenue, Minister of the Atlantic Canada Opportunities Agency (ACOA) and Minister for the Atlantic Gateway, while touring MDS Coating Technologies Corporation (MCT).
“Supporting science and technology is key to Canada’s future economic growth,” said Minister Shea. “Our Government is committed to helping businesses and universities create and maintain research jobs and attract and retain world-leading research talent, which will lead to discoveries that improve our productivity, competitiveness and overall quality of life.”
In Prince Edward Island, the Government of Canada is investing over $15 million in six new research projects through the Atlantic Innovation Fund (AIF). These investments are part of more than $61 million being invested in Atlantic Canada in 26 innovative R&D projects.
“Our Government recognizes that innovation is vital to a dynamic modern economy,” added Minister Ashfield. “The AIF helps move the region’s cutting-edge R&D into the marketplace, boosts business productivity and bottom lines, increases exports, and creates good-paying jobs and overall economic growth. It’s about good science, smart business and a great investment in the future of Atlantic Canada. That is why this government under the leadership of Prime Minister Stephen Harper made the Atlantic Innovation Fund permanent with ongoing, fixed annual funding.”
“The Atlantic Innovation Fund has been invaluable in moving research out of the laboratory and into the marketplace,” said Bob Youden, a partner with Savarin Consulting, and First Vice-Chair of the Canadian Chamber of Commerce. “The AIF is helping our businesses, including small and medium enterprises, to become more competitive and productive. By applying innovative ideas and approaches in developing new products, processes and services, businesses in Canada – and Atlantic Canada – will continue to grow their revenues and create skilled, well paying jobs.”
The AIF plays an important role in enhancing Atlantic Canada’s ability to carry out leading-edge R&D and in bringing new knowledge, jobs and business opportunities to the region. The fund has been an important catalyst for many Atlantic Canadian businesses, universities and research institutions, creating close to 760 partnerships to help commercialize innovative ideas, products and services.
The six recipients selected for AIF funding in Prince Edward Island include: BioVectra Inc., Charlottetown; Hendrick Agri-Foods Inc. and Hendrick Seeds Inc., Murray River; MDS Coating Technologies Corporation (MCT), Summerside; Nautilus Bioscience Canada Inc. and Croda International PLC, Charlottetown; Phyterra Yeast Inc., Charlottetown; and ViTrak Systems Inc., Charlottetown. Projects include the development of an anti-fungal infection drug treatment; special top quality, high yield, super nutritious soy beans; a new generation of spray coatings to protect large gas engine turbines from erosion and corrosion; an anti-inflammatory ingredient for cosmetics; yeast that improves food safety by removing the chemical asparagines from cooked potatoes; and floor sensors used to capture the movement of multiple humans and small animals.
All projects are approved following a rigorous and independent merit-review process by the AIF Advisory Board, composed of experts from across Atlantic Canada with knowledge of R&D, and business and economic policy.
For a complete list of AIF-funded projects, visit www.acoa- apeca.gc.ca.
The deadline for eligible proponents to submit letters of intent and project proposals for the AIF’s next funding round in 2012 was also announced. Eligible proponents – which include private sector businesses, universities, colleges and other research organizations – are required to submit a mandatory letter of intent by May 4, 2011, followed by a complete project proposal by August 17, 2011. Detailed information is available on ACOA’s website: www.acoa-apeca.gc.ca.
A $15.3 million investment, through the Atlantic Innovation Fund (AIF), will support six Prince Edward Island-based research and development (R&D) projects. The projects include the development of an anti-fungal infection drug treatment; special top quality, high yield, super nutritious soy beans; a new generation of spray coatings to protect large gas engine turbines from erosion and corrosion; an anti-inflammatory ingredient for cosmetics; yeast that improves food safety by removing the chemical asparagines from cooked potatoes; and floor sensors used to capture the movement of multiple humans and small animals.
Fisheries and Oceans Minister Gail Shea said investments in innovation and R&D will help fuel Canada’s future economic growth, thereby creating jobs, increasing business productivity and competitiveness, and improving the overall quality of life of Atlantic Canadians.
In total, 26 R&D projects in Atlantic Canada will receive more than $61 million in AIF funding this year. The AIF is helping Atlantic Canadian researchers and entrepreneurs carry out leading-edge R&D, bringing new knowledge, jobs and business opportunities to the region.
Photographs from the news conference and details on all new AIF projects, including the selected Prince Edward Island- based projects, are available on ACOA’s website at: www.acoa-apeca.gc.ca.
INFORMATION:
Erin Filliter
Director of Communications
Office of the Honourable Keith Ashfield
613-995-2960
Cindy Roy
Director, Communications
Atlantic Canada Opportunities Agency
Charlottetown, PEI
902-566-7569
Cindy.Roy@acoa-apeca.gc.ca
BACKGROUNDER
Atlantic Innovation Fund (AIF)
- The Atlantic Innovation Fund (AIF) was launched in 2001 and is directed to raise the levels of R&D and innovation in Atlantic Canada.
- In Budget 2010, the Government of Canada provided permanent and on-going funding to the AIF.
- Since 2001, including this current round, the AIF has committed close to $709 million in assistance to 279 highly innovative R&D projects across Atlantic Canada, valued at over $1.5 billion.
- Under the current round of funding, 26 projects throughout Atlantic Canada will receive more than $61 million in AIF funding.
- As a result of AIF and private sector investments, R&D spending in Atlantic Canada rose by an annual average of 7.5 per cent between 2002 and 2007, exceeding the national increase of 4.4 per cent.
- Every AIF dollar invested has leveraged $1.15 in funding from other public and private-sector sources, for a total of more than $813 million.
- Between 2002 and 2011, the AIF supported the creation of close to 760 partnerships and collaborations between businesses, universities and other research organizations for technology development and commercialization.
- The Organization for Economic Co-operation and Development (OECD) has stated that the AIF is a proven catalyst for encouraging partnerships among business and the research community.
- Between 2002 and 2007, the AIF enabled the creation of more than 1,250 full-time jobs for highly skilled innovators, researchers and scientists, as well as training opportunities for nearly 1,000 students in research organizations.
- Between 2002 and 2011, more than 250 technologies, products, processes and services developed through the AIF were successfully commercialized, resulting in just under $250 million in incremental sales.
2011 AIF Projects – Prince Edward Island
BioVectra Inc. (Charlottetown) Project: Echinocandin Anti-fungal Generic Drugs BioVectra Inc. will develop anti-fungal pharmaceutical products called echinocandins into pharmaceutical ingredients and generic drug products. Echinocandins are used in the first line treatment of fungal infections, a growing threat to patient safety in the healthcare system. This project, with total estimated costs of $4.9 million, will receive approximately $3 million from the Atlantic Innovation Fund over a three-year period.
Contact information: Dale W. Zajicek Chief Operating Officer and Vice-President, Business Development BioVectra Inc. Charlottetown, PEI 902-566-9116 www.biovectra.com
Nautilus Bioscience Canada Inc. and Croda International PLC (Charlottetown) Project: Marine Derived Personal Care Ingredients Nautilus Bioscience Canada Inc. and Croda International PLC will use chemical production capabilities of marine microbes to create new active ingredients in personal care products. The companies will expand their collection of microbes isolated from marine environments of the Caribbean, the United States, Atlantic Canada and Canada’s Arctic. The microbes will be evaluated as a sustainable source of natural products with varied applications in the personal care industry. Throughout the project, they expect to launch four to 12 new personal care products. This project, with total estimated costs of $4.1 million, will receive approximately $2.9 million from the Atlantic Innovation Fund over a four-year period.
Contact information: Dr. Russell Kerr Chief Executive Officer Nautilus Bioscience Canada Inc. Charlottetown, PEI 902-566-0565 www.nautilusbiosci.net
MDS Coating Technologies Corporation (Summerside) Project: Development of Physical Vapour Deposition (PVD) Coating Machine Capabilities MDS Coating Technologies Corporation will develop a new generation automated coating machine which will allow the company’s coatings to protect larger gas engine turbine components from erosion and corrosion in the aerospace, commercial and defense industries. The new coating machines will achieve higher deposition rates to outperform other coating technologies. MDS Coating Technologies will also develop additional equipment that will facilitate the handling and manufacturing process of larger components. This project, with total estimated cost of $4 million, will receive approximately $2.8 million from the Atlantic Innovation Fund over a four-year period.
Contact information: Mr. Kerry Butler Vice-President, Finance and Administration MDS Coating Technologies Corporation Summerside, PEI 902-888-3900 www.mdsprad.ca
Hendrick Agri-Foods Inc. and Hendrick Seeds Inc. (Murray River) Project: Commercialization of Genomics Based Oilseeds Hendrick Agri-Foods Inc. and Hendrick Seeds Inc. will employ advanced scientific techniques to identify genetic markers in soybeans. These markers will be used to develop non-genetically modified (non-GMO) soybeans varieties that will improve quality and yield when grown in the Atlantic Canadian climate and have nutritional benefits that target demand in Europe and Japan. This project, with total estimated costs of $5 million, will receive approximately $2.7 million from the Atlantic Innovation Fund over a five- year period.
Contact information: Mr. David Hendrick President Hendrick Agri Foods Inc. and Hendrick Seeds Inc. Murray River, PEI 613-774-3469 www.hendrickseeds.com Phyterra™ Yeast Inc. (Charlottetown) Project: Commercialization of Acryleast™, Asparagine – Degrading Yeast Phyterra™ Yeast Inc. will construct novel strains of yeast capable of preventing the chemical acrylamide from forming in cooked potato products. This potential human carcinogen/chemical naturally occurs during processing when cooking temperatures exceed 120oC (248oF) as a reaction between the amino acid asparagine and reducing sugars. Yeast naturally consumes asparagine and the Phyterra™ enhanced strains will accelerate this process to accommodate processing. The company’s proprietary yeast strains will be trialed in Atlantic pilot-scale processing facilities to ensure validity and maximize performance. This project, with total estimated costs of $4.3 million, will receive approximately $2.5 million from the Atlantic Innovation Fund over a three-year period.
Contact information: Mr. Garth Greenham President and Chief Operating Officer Phyterra™ Yeast Inc. Charlottetown, PEI 902-382-4771 www.phyterra.com
ViTrak Systems Inc. (Charlottetown) Project: Development of Patented Sensor Floor Technology ViTrak Systems Inc. will develop and commercialize its patented gait analysis sensor floor technology. The technology has the capability to track and monitor individuals or a group of subjects for brief periods or 24 hours per day. The technology has applications in the fields of biomedical research, elder care, veterinary science, professional sports, military training, as well as security and surveillance. This project, with total estimated costs of $2.2 million, will receive approximately $1.4 million from the Atlantic Innovation Fund over a three- year period.
Contact information: Ms. Crystal Trevors-Lavallee Senior Consultant MacPherson, Roche, Smith and Associates (MRSA) Consulting Charlottetown, PEI 902-566-2566 www.vitraksystems.com
