With the assistance of the Atlantic Canada Opportunities Agency (ACOA) and Enterprise PEI, Simscape Development Corporation is expanding its line of simulation software products.
The objective of Simscape is to produce simulation software for business, industry and education, using Windows as the primary operating platform. The company is adding six new programs to its product line.
"Innovation and technology are critical to competitiveness and business growth in today's economy," said George Proud, MP for Hillsborough, on behalf of the Honourable Fred J. Mifflin, Minister of Veterans Affairs and Secretary of State for the Atlantic Canada Opportunities Agency (ACOA). "ACOA is helping Islanders participate in this growing industry by supporting projects such as this expansion of Simscape's operations."
To support the development of Simscape's six new software programs, the company is expected to hire six new employees.
"The growth of this Island-owned company is very exciting," said Wes MacAleer, Minister of Economic Development and Tourism. "Over the last couple of years, a number of Island software development firms have experience success, and the participation of successful companies like Simscape in the IT sector is very encouraging."
The development of new software will build on Simscape's success with the two products it currently has on the market, WASE Rates and WASE Conserve. WASE is a WAter and SEwer utility rate studies program.
"The two programs we currently have on the market make it easier for utility managers to set rates while managing the cost and pricing of utility services," said Robert O'Rourke, Simscape President. "Three of our six new products also focus on utilities, while the remaining three focus on education, highway engineering, and manufacturing operations."
To date, the business has been focusing its marketing efforts on the North American market, particularly the Southern and Western United States.
Assistance for this project was provided by the federal and provincial governments. ACOA provided a $485,000 loan under the Business Development Program, and Enterprise PEI provided $250,000.
For more information contact: Lynne Sherren, ACOA, (902)566-7008 or Ann Stanley, Economic Development & Tourism, (902) 368-6322