February 20, 2015 – Fredericton, NB – Atlantic Canada Opportunities Agency (ACOA)
Eigen Innovations will further expand the development of its software to optimize manufacturing and industry processes, thanks to investments by the Government of Canada.
The Honourable Rob Moore, Regional Minister for New Brunswick and Minister of State (Atlantic Canada Opportunities Agency), joined Eigen officials to make the announcement today.
The first project with Eigen will help enhance the company’s existing software, develop new software and standardize an IT hardware platform. A second project with Eigen involves the hiring of a Senior Technical Architect, to enhance the company’s ability to respond to customer requests.
The Government of Canada, through ACOA’s Business Development Program, is providing a contribution totaling $324,500 toward these two initiatives. Eigen Innovations is contributing a total of $176,500.
Quick Facts:
- Eigen Innovations was incorporated in May 2012 to further develop software emanating from research at the University of New Brunswick's Faculty of Mechanical Engineering's Intelligent Controls Lab. The company has licensed the technology and is further developing it for a variety of sectors.
- The local high tech startup was part of Planet Hatch’s accelerator program.
- Eigen Innovations’ technology operates in the emerging field of the “industrial internet”, where complex physical machines are networked with sensors and software to optimize their performance thereby reducing waste, downtime, energy etc.
- The Eigen Intellexon™ platform learns what operators are looking for and then calculates the optimal machine settings. This boosts factory productivity and ensures consistent quality, all while reducing operating costs.
- The Internet of Things (IoT) is the network of physical objects or "things" embedded with electronics, software, sensors and connectivity to enable it to achieve greater value and service by exchanging data with the manufacturer, operator and/or other connected devices.
Quotes:
“Our Government is committed to creating jobs and economic growth, while returning to fiscal balance. Our support for Eigen Innovations will help this cutting edge company continue to innovate, expand its business and diversify its markets, helping them to grow and further contribute to our region’s economy.”
- The Honourable Rob Moore, Regional Minister for New Brunswick and Minister of State (Atlantic Canada Opportunities Agency)
“Eigen Innovations Inc. is very appreciative of the support from the Atlantic Canada Opportunities Agency. We are using these funds to accelerate the building of our IntellexonTM software platform that operates inside large, complex manufacturing environments. Our solution is sold to large multi-billion dollar customers all over the world, and it is encouraging to see ACOA supporting organizations like Eigen Innovations who are focused on exporting globally from our base right here in New Brunswick.”
- Scott Everett, Co-founder and Chief Technology Officer for Eigen Innovations
Associated Links :
Contacts:
Kelsie Corey
Director of Communications
Office of the Honourable Rob Moore
Atlantic Canada Opportunities Agency
613-941-7241
Ted Parisé
Senior Communications Officer
Atlantic Canada Opportunities Agency
506-260-7020
Richard Jones
Chief Executive Officer
Eigen Innovations
506-333-3548
