The Honourable Scott Brison, President of the Treasury Board of Canada and Member of Parliament for Kings-Hants, was joined by Andy Fillmore, Member of Parliament for Halifax, today to announce an investment of $2,994,928 for the development of QRA Corp’s QVtrace analysis tool. The announcement was made on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA). Minister Brison and MP Fillmore were joined by Dr. Jordan Kyriakidis, Co-founder and CEO of QRA Corp, and Greg Phipps, Managing Director of Investment for Innovacorp.
The conditionally-repayable funding will support QRA Corp in developing a commercial, industry-ready software platform that can assist engineers with the rigorous analysis and verification required for early-stage engineering designs. With applications in fields such as defence and aeronautics, QVtrace will allow designers to circumvent many of the system faults typically encountered in the build stage, by allowing engineers to intelligently test all aspects of their designs and uncover any system limitations before physical creation.
ACOA’s innovation programming, which includes the Atlantic Innovation Fund and the Business Development Program, responds to the evolving needs of Atlantic businesses and researchers. It is designed to help bring to market new products, technologies and services that will improve the competitiveness and productivity of the Atlantic economy. The programs also support small and medium-sized enterprises across the region to acquire or adapt innovative technologies that can improve their productivity and competitiveness, while also enabling them to build the skills they need to innovate and compete in today’s global economy.
Source: AAFC