Propel Gets $2-Million Funding Boost From ACOA
CHARLOTTETOWN – Atlantic Canadian tech accelerator Propel received funding from the federal government this week to help support its programs for startups in the region.
The Atlantic Canada Opportunities Agency announced Thursday that it’s giving $2,265,462 to Propel through the Regional Economic Growth through Innovation (REGI) program. The funding will enable Propel to continue delivering Incite across Atlantic Canada until March 2022.
“Today’s investment will ensure that Atlantic Canadian startups in the technology sector have the tools, knowledge and partnerships they need to continue to innovate and grow, bolster the economy and create good-paying jobs,” said Navdeep Bains, minister of innovation, science and economic development and the minister responsible for ACOA, in a release.
Propel focuses on building up ICT entrepreneurs and fostering economic growth in the region. Propel’s virtual accelerator program, Incite, enables it to work with technology startups located virtually anywhere. Entrepreneurs can access this program without leaving their businesses, so they can run their operations without interruption.
“Propel’s ultimate goal is to help build successful global technology companies right here in Atlantic Canada,’ said Propel CEO Barry Bisson. “This funding enables us to continue working with the most promising startups in the region through our virtual accelerator Incite. We look forward to continuing to contribute to the economic prosperity of Atlantic Canada by supporting tech companies and founders in our region.”
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