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September 25, 2014
For immediate release
Pilot and Discovery Fund assists Island ICT companies
Five Charlottetown companies developing innovative applications of information and communication technology (ICT) will be assisted in the latest round of Innovation PEI’s Pilot and Discovery Fund, says Innovation and Advanced Learning Minister Allen Roach.
“The Island’s ICT industry is constantly growing and developing, with companies that range from small start-ups to multinational companies. The companies being supported today use ICT to provide a valuable service that is focused on meeting the needs of their customers,” said Minister Roach. “As the province’s lead economic development agency, Innovation PEI will provide support to help these innovators explore the commercial potential of their work.”
Companies receiving assistance today include:
• Jobsite To Go – A cloud-based application that allows contractors to track budgets and construction expenses with a mobile device.
• Maximum Performance and Nutrition – A web-based software that will permit centralized communication between athletes, trainers, coaches and the medical professionals of sports team.
• BFN Tech PEI – A prototype system to provide wireless, fee-for-use Internet service capable of reaching all areas of Prince Edward Island.
• Employ PEI – Software to collect national labour market data to assist with employee recruiting and job placement.
• Discovery Garden – A cloud-based service for storing, searching and preserving data and documents for use by researchers and archivists.
Each successful company under the Pilot and Discovery Fund will receive $25,000 in funding to further its research and development work.
“The prototyping funding that we’ve received through Innovation PEI is giving us the opportunity to take our idea from paper and start making a positive impact for residents and visitors alike,” said Rob Nelson, co-owner of BFN Tech PEI.
The Pilot and Discovery Fund is a competition to find and support projects that are early stage and have a strong potential for success. Research and development requires up-front costs that can be difficult for small businesses in the Province to cover. This program helps bridge the gap between development costs incurred and revenue generated by a commercial-ready product.
A total of 10 projects were offered funding in this round of the Pilot and Discovery Fund, totaling an investment of $250,000 in early stage businesses in Prince Edward Island.
Information on the Pilot and Discovery Fund and the application process is available at www.innovationpei.com/pdfund.