New fund encourages research and development in PEI

Charlottetown, PEI – A fund worth $500,000 has been created by PEI’s provincial government to encourage research and development in the island. The series of programs is designed to build capacity in research and development innovation by supporting the transformation of ideas into products.

"This fund will encourage research that will lead to the development of new products and new economic growth for the province," said Mike Currie the province’s development and technology minister. "It will be used to support researchers who are working in collaboration with business on work that could have significant commercial potential."

The fund will give special consideration to those projects which involve the province’s key economic sectors including life sciences / biotech, information technology, advanced manufacturing and processing, environmental technologies and aerospace.