Business development agency Innovation PEI has announced five companies from the province receiving $25,000 each from its Ignition Fund, chosen via a competition-based application process.
Launched in 2014, the fund has so far backed 85 companies. The money can go towards a range of activities, including hiring consultants, capital purchases and professional development, but recipients must submit to ongoing performance monitoring.
“This will help us get the app into the hands of children much quicker,” wrote Janessa Ferrell, whose QuestRead edtech startup is one of the funding recipients, on LinkedIn.
“I’m so thankful for all of the support and encouragement we’ve had on PEI. It definitely helps to have a strong community around us.”
Here’s a look at the startups receiving funding:
Jerry Oriade
Finix designs and manufactures sustainable “streetwear” clothing, like trendy, informal outfits with bold designs and colours popular among young shoppers. In its first four months, the company has shipped its products to 20 countries.
Ian MacAulay and Jeremy MacAulay
Sport4TV sells a hardware and software suite for tracking curling rocks as they travel across the ice, which can be used to supplement television broadcasts and provide the curlers themselves with information about how to improve their performance.
Janessa Ferrell
QuestRead is a text-based mobile adventure game designed to teach children to read. The system is capable of adapting the content of gamified digital books to the needs and abilities of specific kids.
Salty Mountain Clothing
Laura Stevenson and Alex Stevenson
Salty Mountain is designing women’s workwear products ranging from staples like shirts and pants to maternity overalls.
Natal de Avila Antonini and Magali Freiberger
Upcycle converts 10- to 15-year-old Toyota Corollas into small electric pickup trucks. The product has been under development for three years, and Antonioni and Freiberger plan to commercialize it in the first quarter of 2024.
