‘This is really about strengthening the local ecosystem’
The Charlottetown-based bioscience company Somru BioScience will receive over $4 million in federal and provincial funding to support its latest research and development project.
Federal Minister of Innovation, Science and Economic Development Navdeep Bains made the announcement at Somru’s facility Wednesday.
Bains, who is also the minister responsible for the Atlantic Canada Opportunities Agency (ACOA), said the government understands entrepreneurs take a lot of risks and this funding model promotes government investment and supports local innovation.
“This is really about strengthening the local ecosystem, the local bioscience sector that’s growing and thriving right here in P.E.I.,” Bains said.