New Ignition Fund grants will jump-start Island businesses
Creating jobs for Islanders -
A $25,000 Ignition Fund grant in 2016 helped Deep Roots Distillery owner Mike Beamish create a new line of buckwheat whiskey.
This year, 10 new grants are being awarded to Island companies that are starting up or working to commercialize new products. Beamish says his Ignition Fund grant will help his distillery – based in Warren Grove – expand its market share while supporting local farmers.
“Buckwheat is beneficial to potato farmers especially as a rotation crop that aids in soil health and reduces certain pests – and as it happens, it makes a very fine whiskey,” said Beamish, who is hosting the 2017 Ignition Fund award ceremony at Deep Roots Distillery. “The grant we received under the Ignition Fund was crucial to the development of our product which is now in the final production stage, and we anticipate being able to begin the aging and tasting process inside the next few weeks.”
Each of the 10 successful Ignition Fund applicants will receive a $25,000 grant. This year’s recipients are:
- Exit Speed Inc.;
- Island Aquatech;
- Redrock Power Systems;
- Fresh Start Fauxmage;
- Lighters Candle Company;
- MacWorth Industries;
- Taylor Pharmaceuticals;
- Bony Broth Co.;
- FieldEtect; and
- Cradle Technology Design Inc.
“I offer my congratulations and best wishes to each of this year’s successful applicants,” Economic Development and Tourism Minister Heath MacDonald said. “I am confident this support will be a great asset to these ambitious, innovative companies as they move forward with their business plans and cutting-edge ideas.”
Since the Ignition Fund was created in 2014 it has assisted 38 new or expanding Island businesses. It originally awarded eight grants but increased to 10 in 2015 as committed by Premier Wade MacLauchlan.
“By supporting our province’s visionary, hard-working entrepreneurs, we are expanding our economy, increasing our exports, and creating jobs for Islanders,” Minister MacDonald said. “For a small province we have a large number of dreamers and doers – and the Ignition Fund is one more way we are helping Islanders turn their big dreams into reality.”
Exit Speed Inc. – To patent and market an innovative training apparatus that will increase baseball/softball players' bat speed and power.
Island Aquatech – To commercialize a novel oyster cage flipper that provides a simple and cost-effective method for flipping oyster cages.
Redrock Power Systems – To develop and commercialize zero-emissions fuel cell solutions for use in the marine industry by working with world-leading suppliers and industry-leading customers.
Fresh Start Fauxmage – To produce nut-based, dairy-free, vegan cheese alternatives in a variety of flavours.
Lighters Candle Company – To produce all natural soy wax candles and home products.
MacWorth Industries – To produce the Highway Safety Prevention Bar, a safety device intended for use on school buses.
Taylor Pharmaceuticals – To develop and manufacture a hybrid high flow nasal irrigation device.
The Bony Broth Co. – To increase production, to enable export, and to develop new products.
FieldEtect – To commercialize a handheld device to that will permit DNA identification of known pathogens in the agriculture sector.
Cradle Technology Design Inc. - To develop an innovative urinalysis device to provide athletes with reliable, informative, and empowering health data to help optimize their performance.