Charlottetown’s latest innovation space, The Foundry, opened this week with an investment of $855,000 from the Atlantic Canada Opportunities Agency and $712,500 from the province.

The Foundry, which is run by the PEI IT Alliance, will support the delivery of essential programming and mentorship services for the province’s tech industry, ACOA said in a statement.

The new space on Great George Street offers state-of-the-art facilities and resources to its members as well as workshops and networking opportunities to connect entrepreneurs with industry leaders, investors, and potential partners, the group said.

“With this investment, we can connect more entrepreneurs to the resources and networks they need to grow. The Foundry is central to this vision, serving as a hub for collaboration, innovation, and growth in PEI’s overall economy,” said Chris Gallant, Executive Director of the PEI IT Alliance.

The PEI IT Alliance was established in 2022 and now supports a membership of 908, including 89 organizations, along with startups, professionals, remote workers, and students.