Federal and Provincial Governments Support Entrepreneurship and Innovation
Investment benefits Ignite Fredericton, Planet Hatch programs and the KIRA Awards
May 4, 2017 – Fredericton, NB – Atlantic Canada Opportunities Agency
Innovation starts with creative and skilled people. Supporting innovation and entrepreneurship leads to start-ups and new small and medium-sized enterprises that provide exciting job prospects for Canadian workers, both today and into the future.
Matt DeCourcey, Member of Parliament for Fredericton, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA), the Honourable Francine Landry, Minister of Economic Development and Minister responsible for Opportunities NB, and Ignite Fredericton officials today announced close to $550,000 in investments to Ignite Fredericton for initiatives to support entrepreneurship development in the region.
The project announced today includes three components: the evolution of programming and services offered by Fredericton’s entrepreneurial hub, Planet Hatch; the development of a model for effective mapping and tracking of entrepreneurial service delivery; and the recognition of innovation excellence and capacity in New Brunswick with support to the KIRA Awards.
The Government of Canada is providing a non-repayable contribution of $454,250 through ACOA’s Business Development Program. The Government of New Brunswick is investing $95,000 while the Knowledge Park is contributing $51,100. Also, the University of New Brunswick (UNB) is contributing $45,100 along with $115,550 in support from the private sector.
This project builds on the Government of Canada’s commitment to drive economic growth in Atlantic Canada through the Atlantic Growth Strategy, which supports strategic investments in initiatives that build on the region’s competitive advantages, such as its strong export potential, growing innovation ecosystem, and skilled workforce.
The project also demonstrates the Government’s new approach to economic development through innovation. Over the next five years, all six regional development agencies, including ACOA, will invest a total of $1.5 billion to strengthen innovation capacity and economic growth in every region of the country.
“The Government of Canada is committed to fostering a region of innovators. Innovation is the path to inclusive growth and will open up our country to new economic, social and environmental possibilities, which is essential in shaping a successful future for all Canadians.”
- The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA
“The Government of Canada is committed to empowering our entrepreneurs through innovation. By investing in Ignite Fredericton, Planet Hatch and the KIRA awards we are creating a climate of excellence in innovation and entrepreneurship that will engage our business community, build innovation capacity, and bring new opportunites for growth and prosperity to this region.”
- Matt DeCourcey, Member of Parliament for Fredericton
“Our government is pleased to support organizations like Planet Hatch, Ignite and KIRA who help drive innovation and entrepreneurship. This will lead to new opportunities for New Brunswickers and grow our provincial economy.”
- The Honourable Francine Landry, Minister of Economic Development and Minister responsible for Opportunities NB
“We’re pleased that the federal and provincial governments recognize the level of collaboration and inter-connectivity with this integrated funding approach. This support will further strengthen entrepreneurial support services offered through Ignite Fredericton and Planet Hatch, and it will enable the mapping of services throughout the ecosystem. It also provides a means to celebrate and recognize our most innovative companies through the KIRAs.”
- Larry Shaw, CEO of Ignite Fredericton, Planet Hatch & Knowledge Park
Senior Communications Officer
Atlantic Canada Opportunities Agency
Director of Communications
Opportunities New Brunswick
Knowledge Park and Ignite Fredericton