The Federal Government on Tuesday announced that it has awarded $43 million in loans to research projects in the region through the Atlantic Canada Opportunities Agency’s Atlantic Innovation Fund.
The AIF lends money to startups and public organizations to conduct market-oriented research, usually over a period of years. The ACOA press release said the projects have a total value of more than $123 million, and will bring in an additional $80 million from a variety of private and public sector sources.
The following is a description of the projects and the amount they will receive:
Nova Scotia
Capital District Health Authority
AIF funding will allow the Capital District Health Authority to develop push-button MRI diagnostics to ultimately improve diagnostic capabilities and aid in clinical decision making to improve patient outcomes.
AIF Amount: $2,959,855
ABK Biomedical Incorporated
ABK Biomedical’s project will focus on the development and commercialization of new biomaterials that will simplify and enhance the delivery of chemotherapy and radiotherapy for patients.
AIF Amount: $2,140,000
Dalhousie University
This project will help to improve the performance of underwater sensors and instrumentation by developing an innovative acoustic wireless modem that performs complex signal processing.
AIF Amount: $2,321,299
Metamaterial Technologies Inc.
With AIF funding, Metamaterial Technologies Inc’s project will develop and commercialize a thin, transparent film that can be applied to the windscreens of airplanes in order to protect against cockpit laser illuminations.
AIF Amount: $3,000,000
New Brunswick
Forest Protection Ltd.
AIF funding will allow Forest Protection Limited to develop new products and techniques to intervene early in spruce budworm outbreaks in order to mitigate pest-related impacts on forest integrity, timber supply, and industry productivity.
AIF Amount: $10,000,000
Enovex Technology Limited
Through this project, Enovex Technology Ltd. will develop an adsorbent material that produces nitrogen at lower costs compared to existing products in the industrial gas market.
AIF Amount: $2,319,554
Prince Edward Island
iWave
iWave will develop and commercialize a new software solution designed to provide an efficient and effective tool for prospecting and fundraising initiatives undertaken by non-profit organizations.
AIF Amount: $1,994,624
Pan-Atlantic
Springboard Atlantic
With AIF funding, Springboard will continue its focus on programs and activities that help accelerate academic innovation, push technologies to market and attract industry demand for university research.
AIF Amount: $8,500,000
