Innovation PEI Supports Product Development Through the Discovery and Development Fund

Innovation and Advanced Learning

Innovation PEI will invest in 10 businesses across Prince Edward Island through the Discovery and Development Fund, says Innovation and Advanced Learning Minster Allan Campbell.

This is the second round of the Discovery and Development Fund, which is a strategic program of the Island Prosperity Strategy. The program is designed to help businesses and researchers in PEI develop innovative products and get these products to market.

"I'm pleased to announce the recipients of this second round of the Discovery and Development Fund," said Minister Campbell. "In today's competitive economy, the funding this program provides will help Island businesses to develop cutting edge products that have strong appeal to niche markets."

Innovation PEI received 55 applications for the Discovery and Development Fund and has offered funding to the top 10 projects this round. The projects were evaluated by a peer review committee made up of members from various government departments, crown corporations, private business and academia.

The 10 projects that will receive funding are:

• Eco-Blaze Corporation ~ Project Title: "Eco-blaze straw burner"
• PEI Fishermen's Association ~ Project Title: "Assessment of post-release mortality of an Atlantic Bluefin tuna in a catch and release sport fishery in the Gulf of St. Lawrence"
• Chemaphor Inc. ~ Project Title: "Use of a 13-carbon to determine bio-availability of oxidized beta-carotene"
• Cavendish Farms ~ Project Title: "Nutritious potato alternatives"
• Diversified Metal Engineering ~ Project Title: "Development, Commercialization and Proprietary Protection of an Automated Beer Brewing System"
• Marine Exhaust Solutions Inc. ~ Project Title: "EcoSilencer SO2 Exhaust Cleaning system (EGCS) for commercial marine vessels; Design, Enhancement and Performance Optimization"
• University of Prince Edward Island ~ Project Title: "Development of a marine natural products bank from Canadian Arctic Waters"
• University of Prince Edward Island ~ Project Title: "Development of high-throughput diagnostic assay for simultaneous detection of salmonid viruses using fluidic bead-based molecular assay technology"
• Lisi Atlantic Development Inc., a wholly-owned subsidiary of Lisi Therapeutics, Inc. ~ Project Title: "Completion of proof of concept for an MRI-based cancer bio-diagnostic tool"
• Solarvest PEI Inc. ~ Project Title: "To genetically modify hydrogen-producing algal strains to co-produce recombinant proteins"

"I am also pleased to announce that Innovation PEI will be accepting a second intake of applications under the Premier's Medal for Innovation and the Graduate Student and Post-Doctoral Fellowship programs," said Minister Campbell. "These programs support research excellence on Prince Edward Island and assist our businesses and institutions to build their highly qualified human resource pool."

Materials for the Premier's Medal for Innovation and the Graduate Student and Post-Doctoral Fellowships can be found on the Island Prosperity website, www.islandprosperity.com.