PEI Funding Product Development
November 18th, 2013
Six Island business initiatives will receive support from Innovation PEI to carry out new research and move their ideas and products toward the marketplace, says Innovation and Advanced Learning Minister Allen Roach.
“In order to grow the provincial economy, we must invest in research and pre-commercial projects,” said Minister Roach. “We are pleased to be announcing that six newly approved projects will receive support through Innovation PEI’s Pilot and Discovery Fund. These projects have been chosen because of their potential to lead to strong economic development within Prince Edward Island, and the opportunities they will allow for future economic development.”
Under Innovation PEI’s Pilot and Discovery Fund, six projects have been approved to each receive a $25,000 grant to help development innovative products. The aim of the Pilot and Discovery Fund is to support early stage proof-of-concept projects that will lead to the development of new products, services or processes in the strategic sectors. The total investment into this round of the program will be $150,000.
Successful applicants to Innovation PEI’s Pilot and Discovery Fund:
• Somru Biosciences – Developing autoimmune diagnostic for Infliximab therapy
• University of Prince Edward Island (Dr. Qiang Ye) – Integrating RFID and Stepscan tiles
• Mugisha Enterprises – Video assistant
• University of Prince Edward Island (Dr. Laurie McDuffee) – Stem cell therapy for bone production/healing
• Checkmate Solutions – Business Software and Application Development
• University of Prince Edward Island (Dr. Jamie Burr) – Exercise training and recovery device
Dr. Burr said the grant will support the science underlying his team’s exercise rehabilitation and training device.
“I am tremendously grateful for the grant funding from Innovation PEI in the support of our science,” said Dr. Burr. “We are extremely hopeful that our progress will offer benefits to a host of potential users ranging from persons with chronic disease to elite athletes. This funding brings us one step closer to a product that will benefit the lives of Islanders and Canadians across the country.”
For more information on Innovation PEI and its programs, visit www.innovationpei.com.