Innovation programs to boost key development sectors in PEI

Charlottetown, PEI – Prince Edward Island’s government has launched a new program to support innovation in bioscience (including primary sectors), information technology, aerospace and renewable energy.

“The purpose of these initiatives is to encourage growth and development of businesses in the sectors that we identified as having strong potential for growth,” said Richard Brown, minister of innovation and advanced learning. “Our plan is to strengthen research relationships between industry and research institutions to build a more innovative-driven economy.”

Financial support is available under four initiatives:

1) Industry Research Chairs: This program will provide financial support to establish Industry Research Chairs in priority sectors, attract and retain top quality researchers in the province, and conduct valuable research that will provide benefits to industry stakeholders in the future.

2) Graduate and Post-Doctoral Fellowship Program: This program will provide financial support to highly qualified graduate level and post-doctoral students with the dual purpose of providing students with industry experience in PEI and supporting the research efforts of sector specific businesses and research institutions.

3) Premier’s Medal of Innovation: The medal will be awarded to a PEI innovator who has demonstrated excellence in the field of bioscience, aerospace, information technology or renewable energy and has made a significant research contribution to the province. The award will provide two-year funding for the recipient to accelerate research in one of the province’s priority sectors.

4) Discovery & Development Fund: The fund is the second of four programs focused on supporting the advancement of innovative ideas from conception into new commercially successful products. The fund will support companies and researchers to conduct discovery and development stage research through partnerships and collaborations.

More information is available online at www.islandprosperity.ca.