PM announces support for innovation in Atlantic Canada

Prime Minister Stephen Harper today announced support for three projects in Prince Edward Island under the Atlantic Innovation Fund (AIF), which will promote jobs, growth and long-term prosperity. The Prime Minister was accompanied by Gail Shea, Minister of National Revenue and Minister for the Atlantic Canada Opportunities Agency (ACOA).

“Our Government is committed to helping innovators in Atlantic Canada succeed,” said Prime Minister Harper. “The support being announced today will help innovative companies in Prince Edward Island bring their cutting-edge products, processes, technologies and services to market, generating jobs and economic growth.”

New support being provided under AIF will help BioVectra Inc. develop two generic drugs employing sustained-release delivery technology and Delivra Inc. to develop more effective topical creams to relieve joint pain and improve circulation. AIF support will also help Island Abbey Foods Ltd. research and develop ways to use innovative dehydrated honey to deliver a broad range of therapeutic products. All three companies are in Charlottetown.

Since its launch in 2001, the Atlantic Innovation Fund has been helping Atlantic Canadians compete in a global knowledge-based economy through the development and commercialization of new and innovative products and services. In Economic Action Plan 2010, the Government ensured that funding for the AIF would be permanent.

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