Government investments support IT sector and startup community in Prince Edward Island
February 19, 2025 · Charlottetown, Prince Edward Island · Atlantic Canada Opportunities Agency (ACOA)
The Government of Canada understands that collaboration and mentorship are key to creating a successful and sustainable ecosystem for businesses at all stages. In
Prince Edward Island, a newly established tech and business hub will serve as a vital resource to tech entrepreneurs across many sectors looking to scale, innovate, and adapt.Building a community of innovation in P.E.I’s tech industry
Today, Sean Casey, Member of Parliament for Charlottetown, attended the opening of The Foundry, where he announced a Government of Canada investment of $855,000 for the PEI IT Alliance. The announcement was made on behalf of the Honourable Gudie Hutchings, Minister of Rural Economic Development and Minister responsible for ACOA.
The funding will support the delivery of essential programming and mentorship services to advance the province’s tech industry. The Foundry will provide state-of-the-art facilities and resources to its members, as well as workshops, and networking opportunities to connect entrepreneurs with industry leaders, investors, and potential partners.
The Province of PEI, through Innovation PEI, is also supporting the project with $712,500.
Today's announcement highlights the Government of Canada's support for businesses in rural and urban regions across the country, and commitment to providing entrepreneurs with the tools and resources needed to contribute to Canada's thriving digital economy.
Quotes
“Atlantic Canadian businesses are making big moves in a competitive global economy. Thanks to the support of local organizations like the PEI IT Alliance, we can be sure that our next generation of Island tech entrepreneurs will thrive. ACOA will continue to be there to help you grow and innovate so we can keep creating good jobs right here at home.”
The Honourable Gudie Hutchings, Minister of Rural Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency
“Our small Island has long had its finger on the pulse of a rapidly changing tech landscape. Now, thanks to the industry leaders and innovators of the PEI IT Alliance, our maturing tech ecosystem here in PEI is taking its next step. I’m proud to see continued commitment from our government toward fueling an innovative and diversified economy.”
Sean Casey, Member of Parliament for Charlottetown
“Now more than ever, Island entrepreneurs and businesses need a dedicated space with strategic programs and supports to help transform ideas into market-ready goods and services. Our partnership with ACOA and the PEI IT Alliance will ensure the Foundry will serve as PEI’s premier hub for economic innovation and business incubation.”
The Honourable Cory Deagle, Minister of Economic Development, Innovation and Trade
“The speed of technological advancements, especially in AI, is unprecedented—reshaping industries and redefining competitive advantage. PEI’s tech sector has a strong foundation of talent and innovation. With this new funding, we are committed to further empowering Island tech leaders and their teams to develop high-growth, scalable solutions that drive economic impact and global competitiveness.”
Lauren Ledwell, Board Chair, PEI IT Alliance
“The PEI IT Alliance strengthens the province’s tech ecosystem by offering programming, mentorship, and startup support. With this investment, we can connect more entrepreneurs to the resources and networks they need to grow. The Foundry is central to this vision, serving as a hub for collaboration, innovation, and growth in PEI’s overall economy.”
Chris Gallant, Executive Director, PEI IT Alliance
Quick facts
The PEI IT Alliance was established in 2022 and now supports a membership of 908, including 89 organizations, along with startups, professionals, remote workers, and students.
ACOA’s investment announced today is delivered through the Regional Economic Growth through Innovation (REGI) program, which supports projects that promote sustainable community economic development, enhance business development and growth, and facilitate innovation.
The Province of PEI contributing $712,500 over 19 months through Innovation PEI.
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