OREANDA-NEWS. The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, and Minister responsible for ACOA, today announced an investment of up to $7.1 million in four innovative projects under ACOA’s Atlantic Innovation Fund (AIF). Minister Bains was joined by the Honourable Judy Foote, Minister of Public Services and Procurement, and Member of Parliament for Bonavista – Burin – Trinity, Newfoundland and Labrador.

As part of the funding, Quorum Information Systems Inc. of St. John’s, NL, will receive up to $1.1 million for a project that will allow the company to develop the next generation of its flagship software, XSelleratorTM, a fully configurable product for use in the automotive retail market. XSelleratorTM enhances productivity and service by allowing multiple dealership departments to access valuable customer and vehicle information in real time. It is a comprehensive dealership and customer management solution that automates, integrates and streamlines every department.

Details of the remaining projects included in this funding envelope will be announced in the coming days.

ACOA’s innovation programming, which includes the Atlantic Innovation Fund and the Business Development Program, responds to the evolving needs of Atlantic businesses and researchers. It is designed to help bring to market new products, technologies and services that will improve the competitiveness and productivity of the Atlantic economy. The programs also support small and medium-sized enterprises across the region to acquire or adapt innovative technologies that can improve their productivity and competitiveness, while also enabling them to build the skills they need to innovate and compete in today’s global economy.

Quotes:

“Innovation is the path to inclusive growth. It fosters a thriving middle class and opens the country to new economic, social and environmental possibilities; it is essential in shaping our future. That is why the Government of Canada is committed to supporting projects like the one being undertaken by Quorum Information Systems, Inc., a company that is leading the pack in creating innovative solutions for businesses.”

 -        The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA

“Whether it’s cutting edge research and development happening in our universities and research institutions, or companies adapting their processes so they can to prosper, innovation continues to benefit the growth and diversification of our economy in Newfoundland and Labrador. This strategic investment is one of the many ways homegrown world-class innovation products are helping to position Canada to be a global leader.”

 -        The Honourable Judy Foote, Minister of Public Services and Procurement, and Member of Parliament for Bonavista – Burin – Trinity, Newfoundland and Labrador.

“Our company is excited to be moving ahead with the next generation of our XSelleratorTMsoftware and we look forward to continuing to strengthen our operation here in Newfoundland and Labrador.  We thank the Government of Canada for investing in Quorum and supporting our innovative work in the automotive industry.”

 -           Maury Marks, President and CEO, Quorum Information Systems Ltd.

 Quick Facts:

On July 4, 2016, the Government of Canada and the governments of the four Atlantic Provinces unveiled the Atlantic Growth Strategy, a homegrown, prosperity-focused and evidence-based strategy to stimulate the region’s economy and address both long standing and emerging regional challenges.

The Atlantic Growth Strategy is aimed at stimulating economic growth in the region by focusing joint federal and provincial efforts and resources on the following five main areas of action: skilled workforce/immigration, innovation, clean growth and climate change, trade and investment, and infrastructure.

As part of the Atlantic Growth Strategy, both levels of government will work together to foster greater business innovation by supporting the scaling up of small firms, technology transfer, the commercialization of research, and the generation of new breakthrough ideas in areas such as bioscience, aquaculture, ocean technology and renewable energy, while also spurring value-added opportunities in established industries like the fisheries, agriculture and forestry which are the foundation of Atlantic Canada’s economy.

Supporting innovation projects helps improve opportunities for business, creates jobs in the Atlantic region and contributes to Atlantic Canada’s reputation as an innovation hub.

The vision of the Government of Canada is to make innovation a national priority, and it is taking a government-wide approach aimed at building an inclusive and innovative Canada.