Atlantic Innovation Fund Supports 2 Advanced Drone Technology Projects

Atlantic Innovation Fund Aids 2 Innovative Tech Projects

The Government of Canada recently announced it would be investing a combined total of $5.5M to support two innovative technology development projects. The investment will support research activities for improve drone technologies in Newfoundland and Labrador.

The contribution will be provided through the Atlantic Innovation Fund (AIF), which supports industry-led research and development collaboration projects. The program provides up to 75% coverage of project expenses to a maximum $3,000,000 in Canadian government funding. Ideal projects should focus on the development and commercialization of new or improved products and services.

If successful, these projects will enhance autonomous and aerial vehicle capabilities. In addition, both companies will become more globally competitive, boost innovation, and create new job opportunities.

Atlantic Innovation Fund Awards $5.5M Towards to Cleantech Projects

In June 2017, the federal government announced it would invest up to $5.5 million in repayable funding to support the development of unmanned autonomous and aerial vehicle technologies.

Fugro Geosurveys and Solace Power will leverage Atlantic Innovation Fund investments to collaborate with a research partner to develop commercially-viable technologies. The projects demonstrate the potential to transform various industries by providing real-time data and improved performance.

Fugro Geosurveys

Fugro Geosurveys specializes in geo-intelligence and engineering design solutions for infrastructure and natural resources. The company was founded in 1962 and has established operations in Africa, Asia, Australia, Canada, Europe and the Middle East.

The company will receive up to $2.9 million through AIF to implement new sensor technology for autonomous underwater vehicles (AUV).

These enhancements will allow Fugro to advance their subsea mapping, inspection and surveillance, and environmental monitoring capabilities. The technology will benefit marine regions, including environmental and scientific research, oil and gas, and sustainable energy.

Solace Power

Solace Power is a research and development company that specializes is wireless power technologies. The company was established in 2007 in Mount Pearl, Newfoundland with the intentions of eliminating the use of power cords and batteries in small and medium sized electronics.

The company will receive up to $2.5 million to advance the wireless charging capabilities of small electric unmanned aerial vehicles.

Solace Power will use the funding to demonstrate the technology in a pilot project, such as pipeline exploration and inspection.  It will also be used to reduce harmful emissions by replacing other fuel-based monitoring technologies.

Atlantic Innovation Fund (AIF) Canadian Government Funding

The Atlantic Innovation Fund provides Canadian government funding to support the research and development of innovative technologies. The program supports both industry or non-profit led research collaborations with academia and research institutions. Ideal projects should focus on the development and adaptation of commercially-viable technologies.

Eligible businesses can receive up to 75% and non-profits up to 80% coverage of expenses to a maximum $3,000,000 in Canadian research and development funding.

To get started with the program, applicants must complete and submit a research project outline to a local Atlantic Canada Opportunities Agency (ACOA) office. After discussing your project with ACOA, applicants will be invited to complete and submit an Application for Financial Assistance.

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