November 10, 2022 – Government of Canada: Sean Casey, Member of Parliament for Charlottetown, announced a non-repayable contribution of $2,350,000 through the Regional Economic Growth through Innovation (REGI) program to the PEI BioAlliance.
The investment will build the capacity of the Emergence Bioscience Business Incubator (Emergence) to deliver resources, mentorship and networking opportunities for SMEs in the sector. The announcement was made on behalf of Ginette Petitpas Taylor, Minister of Official Languages and Minister responsible for ACOA.
The Province of PEI is also contributing $825,000 towards the project through Innovation PEI.
This contribution will support Emergence 3.0, the next phase of the virtual incubator program that accelerates the growth of startups and early-stage bioscience companies through one-on-one mentorship, strategy services, networking and resource sharing. This renewed funding for Emergence will build on a successful model managed by a team of experienced staff and volunteer mentors, and foster greater collaboration within the innovation ecosystem in Atlantic Canada. The project is expected to benefit 55 bioscience businesses annually.
Today’s announcement demonstrates the Government of Canada’s commitment to develop a highly skilled workforce and strengthen the region’s bioscience sector to ensure the success and sustainability of the industry.
Read the full news release here