Harper government invests in innovation in moncton

May 21, 2013 - MONCTON (NB) -- Robert Goguen, Member of Parliament for Moncton-Riverview-Dieppe, today announced an investment of close to $5.6 million in support of two innovative research and development (R&D) projects in Moncton under the 2012 Atlantic Innovation Fund (AIF) competitive round.

The New Brunswick projects were among 17 new R&D projects in Atlantic Canada selected to receive AIF funding, as announced on May 14 in Summerside, Prince Edward Island, by the Right Honourable Stephen Harper, Prime Minister of Canada, and the Honourable Gail Shea, Minister of National Revenue and Minister for the Atlantic Canada Opportunities Agency (ACOA). In total, the Government of Canada will invest $39.9 million under the AIF to transform promising ideas into marketable innovations. The combined value of these projects is over $71.1 million.

"Innovation is a driving force of economic development in Canada and this is a priority of our Government," said Minister Shea. "We are committed to helping Atlantic Canada's businesses to move innovative ideas from the lab to the marketplace. Investments in innovation help build our country's commercialization capacity and strengthen our economy by creating high quality jobs and generating economic wealth."

In Moncton, AIF funding will help the Atlantic Canada Research Institute to study the loss of chromosome 3, which causes some cancers to be resistant to current treatments. AIF support will also help the Université de Moncton to validate the health benefits of Ahiflower oil as a possible dietary supplement.

"These two projects supported by this latest round of AIF funding will contribute to an innovative, productive and competitive economy here in the Moncton region and across Atlantic Canada," said MP Goguen. "Our Government's investment in R&D helps the region's businesses and institutions conduct top level research and achieve commercial success for their innovations – all necessary to succeed in the knowledge economy of the 21st century."

Since its launch, the Atlantic Innovation Fund has been helping Atlantic Canadians compete in a global knowledge-based economy through the development and commercialization of new and innovative products and services. In Economic Action Plan 2010, the Government ensured that funding for the AIF would be permanent.
Since 2006, a total investment of $503.8 million has been committed to business and institutional projects under the Atlantic Innovation Fund.

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