As part of the implementation for the Island Prosperity Strategy, the province is launching a series of new initiatives to support its commitment to advance innovation and the growth of the priority sectors of 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. “These new programs will support research activities in fields related to bio-science, aerospace, IT and renewable energy.”
Minister Brown said these new programs will help recruit and retain high-caliber researchers to carry out their work in Prince Edward Island.
“Through our economic strategy, our plan is to strengthen research relationships between industry and research institutions to build a more innovative-driven economy,” said Minister Brown.
Following the launch of the Innovation PEI Pilot Fund this past September, financial support is now available under these four new initiatives:
Industry Research Chairs:
The Innovation PEI Industry Research Chairs 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.
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.
Premier’s Medal of Innovation:
The prestigious Premier’s Medal of Innovation 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.
Discovery & Development Fund:
This 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.
For more information on these programs and to apply online visit:
www.islandprosperity.ca
Prince Edward Island Business Development
Toll Free: 1-800-563-3734
Tel (902) 368-6300
Fax (902) 368-6301