By Staff, The Daily Business Buzz
The federal government plans to contribute $3 million to the Coastal Zones Research Institute Inc. which will help promote innovation, research and development in New Brunswick.
[SHIPPAGAN, NB] — As part of the Harper Government’s Economic Action Plan 2012, Bernard Valcourt, Minister of State for the Atlantic Canada Opportunities Agency (ACOA) and La Francophonie, today announced a $3-million investment in the Coastal Zones Research Institute Inc. (CZRI), which will help promote innovation, research and development in New Brunswick.
“The CZRI project will further develop Arctic char as an alternate species for aquaculture by creating a national genetic improvement program, using new technologies and rearing practices, and creating a market and information network on the Arctic char,” said Minister Valcourt.
The funding announced today is part of a total investment of close to $49 million being made in 21 innovative research and development projects in Atlantic Canada under Competitive Round 2011 of the Atlantic Innovation Fund (AIF). In New Brunswick, Ottawa is investing more than $15 million in seven new R&D projects under AIF.
Minister Valcourt said that details of the remaining projects selected under the AIF Competitive Round 2011 would be announced in each Atlantic province in the coming days.
The Request for Letters of Intent and Project Proposals for AIF Competitive Round 2012 is now underway. Private sector enterprises, universities, colleges and research organizations are invited to submit a letter of intent by 2:00 p.m. on June 28, 2012, followed by a project proposal by 2:00 p.m. on September 26, 2012, to apply for funding.
The Atlantic Innovation Fund encourages partnerships among private sector firms, universities, colleges and other research institutions to develop new or improved products and services. Hundreds of technologies, products, processes and services developed with the support of the AIF have been successfully commercialized, resulting in millions of dollars in incremental sales.