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November 24, 2011
For immediate release
Province supports three projects under the Pilot and Discovery Fund
Innovation PEI has completed its review of the applications submitted under the Pilot and Discovery Fund and has offered support to three projects, says Innovation and Advanced Learning Minister Allen Roach.
“This program is evidence of government’s continued commitment to economic development and job growth in Prince Edward Island,” said Minister Roach. “Small businesses need this capital infusion to develop new products and expand, creating new jobs in Prince Edward Island.”
The Pilot and Discovery Fund supports early stage projects that will result in new products, services or processes in one of the province’s strategic sectors: bioscience (including agriculture and fisheries), information technology, renewable energy and aerospace.
The recipients from the third round are as follows (Company and Project Title):
• Diversified Metal Engineering Ltd. - Hydro Thermodynamic Technology
• Shared Solutions Inc. - Electronic Court Document Initiative
• Worklinks Inc. - Agnostic Automated Rules Engine
Successful applicants are eligible for up to $25,000 in assistance under this program. All applicants are required to meet eligibility criteria and source additional financing for at least 50 per cent of the total cost of the proposed project. All applications are reviewed by a peer review committee made up of subject matter experts, business professionals and researchers.
A new round of funding under the Pilot and Discovery Fund was recently announced and innovators with projects at the proof-of-concept stage are encouraged to apply by the December 16, 2011 deadline.
For more information on the Pilot and Discovery Fund visit www.innovationpei.com.
Diversified Metal Engineering plans to conduct research and product development on a hydro thermodynamic (HTD) disruption technology. HTD technology uses turbulent friction and cavitation forces to simultaneously crushe, homogenize and pasteurize a product while increasing total phenolics in most food products that are being tested. This novel technology does not require an outside heat source such as a boiler to achieve pasteurization temperature levels making it a very energy efficient design. At the end of this project, DME will introduce the HTD unit to the North American market.
Shared Solutions, in conjunction with their sales and marketing partner LexisNexis Canada, will create a repository of searchable electronic court documents. Lawyers and others in the legal sector will be able to request a document from any court or tribunal in Canada. These electronic court documents will be scanned and stored for subsequent searching and linking to online legal resources.
Worklinks is in development of a human capital management and payroll system for small- to medium-sized enterprises. This solution will offer the complete hosted and integrated functions of HR, payroll, benefits, time and attendance, statutory holiday calculator and scheduling. This project will develop a rules engine to allow users to create their own automated time and attendance rules, adding functionality and individualization to the product.