ACOA BDP Funds CEALT
May 22nd, 2013
“We are proud to invest in the CEALT, an organization that provides an opportunity for entrepreneurs in research and innovation to take their business from idea to commercial reality, and create business growth and sustainability,” says Minister Ashfield.
The CEALT offers entrepreneurs a fully integrated solution, providing access to coaching, mentoring, and space, as well as the necessary tools for commercialization. The project supports the costs of operations for the CEALT at Fredericton’s Knowledge Park, including the hiring of an executive director. The Executive Director will oversee day-to-day operations and implement structured commercialization programs such as ACcelR8, a program that will foster entrepreneurial focused commercialization, and create sustainable business growth in the province.
“The CEALT and its ACcelR8 program will introduce a heightened awareness and an intense focus on rapid commercialization for innovative entrepreneurial endeavours in the Fredericton Region and indeed the entire Province of New Brunswick,” said Doug Motty, CEO of Enterprise Fredericton. “The establishment of CEALT will go a long way in creating a sustainable ecosystem for entrepreneurs intent on commercializing their ideas and supports the Region’s goal of being the Atlantic Canadian Capital for entrepreneurship, innovation and commercialization,” Mr. Motty added.
The Government of Canada, through ACOA’s Business Development Program (BDP), is contributing $495,332 while the Knowledge Park is providing $165,110 towards this initiative.