A key part of the formula for growth for startup companies is building a network of connections in the investment community. The governments of Canada and Prince Edward Island are providing $125,000 to support Ignition Startup Zone Inc. in hosting Invest Atlantic 2018, the largest networking event for startups, entrepreneurs and private equity investors in Atlantic Canada.
Sean Casey, Parliamentary Secretary to the Minister of Fisheries, Oceans and the Canadian Coast Guard and Member of Parliament for Charlottetown, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science, and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA), and the Honourable Chris Palmer, Prince Edward Island Minister of Economic Development and Tourism, today announced funding support for Invest Atlantic 2018.
Through its Business Development Program, ACOA is providing a non-repayable contribution of $100,000 to Ignition Startup Zone Inc. The Government of PEI is contributing $25,000 through the Department of Economic Development and Tourism. Invest Atlantic will take place at the Confederation Centre of the Arts in Charlottetown, PEI on September 19th and 20th.
These investments build on commitments made by the Government of Canada and the four Atlantic Provinces to drive economic growth in the region through the Atlantic Growth Strategy, by supporting initiatives that accelerate the growth of startups in innovative sectors and enhancing the region’s skilled workforce.
“Events such as Invest Atlantic 2018 bring together startup companies, entrepreneurs and investors, creating the right conditions for people, ideas and capital to connect. The Government of Canada recognizes that innovation is central to Atlantic Canada’s economy and this event will create access to resources and networks needed to achieve success and opportunities for entrepreneurs to accelerate their growth.”
– Sean Casey, Parliamentary Secretary to the Minister of Fisheries, Oceans and the Canadian Coast Guard and Member of Parliament for Charlottetown
“Invest Atlantic provides Island businesses and entrepreneurs an opportunity to connect with and learn from industry professionals who can help them create access to capital and resources intended to help their ideas grow. Our government is committed to creating the conditions for Island businesses to grow and our support of Invest Atlantic, the Startup Zone, the Ignition Fund and others are great examples of our efforts.”
– The Honourable Chris Palmer, Prince Edward Island Minister of Economic Development and Tourism
“It’s very exciting to be hosting Invest Atlantic for the first time in PEI. The province is going through a huge growth phase in innovation with a high density of startups. It’s a great time to highlight the economy, as we are seeing an increase in interactions between businesses and entrepreneurs. Invest Atlantic is a great conference that will bring a supportive community together to further push this growth in Atlantic Canada’s economy. ”
– Patrick Farrar, Chief Executive Officer, Startup Zone Inc.
- The first six iterations of Invest Atlantic were held in Nova Scotia. In 2016, the event was hosted in New Brunswick and in 2017 it was held in Newfoundland and Labrador.
- PEI will host Invest Atlantic for the first time in 2018.
- To date, 51% of previous Invest Atlantic participating companies have secured investments to support their growth.