ITIS awarded coveted AIF fund
| Canada’s New Government will invest up to $67.1 million in research and development projects in Atlantic Canada through ACOA’s Atlantic Innovation Fund (AIF). Halifax, Nova Scotia, January 17, 2007 – The Honourable Peter MacKay, Minister of Foreign Affairs and Minister of the Atlantic Canada Opportunities Agency (ACOA), today announced that Canada’s New Government will invest up to $67.1 million in research and development projects in Atlantic Canada through ACOA’s Atlantic Innovation Fund (AIF). |
At a news conference in Halifax, Minister MacKay announced the details of eight projects in Nova Scotia that will receive up to $16.4 in AIF funding. A ninth project will be announced at an event in Antigonish later today. Selected projects have a total value of approximately $24.6 million and include the development of more energy-efficient and long-lasting streetlights, instruments that perform highly complex lab tests in minutes and a system to provide maritime surveillance information to government and commercial organizations worldwide. The projects bring together universities, businesses and research institutions to conduct world-class research that, once commercialized, has the potential to grow Atlantic Canada’s economy.
ACOA’s Atlantic Innovation Fund encourages research and development in Atlantic Canada and has been an important catalyst for many Atlantic Canadian businesses, universities and research institutions. It has helped build Atlantic Canada’s reputation for innovation and, through the success of the projects it has funded, has made significant contributions to the region’s research and development and economic performance. Throughout Atlantic Canada, up to $67.1 million will be invested in projects with a total value of more than $124.6 million. IT Interactive Services Inc. (ITIS) is a web search advertising and software development company which was incorporated in November 1999. The company specializes in search engine technologies, information retrieval, and online advertising business models. The initial project of ITIS was the development of a search solution application, known as “Genie.” The “Genie” application now provides search technology for approximately 150 websites, including other search engines. The company currently has 30 employees and is owned by Barbara Manning, John Manning and Barrie Romkey. IT Interactive Services, Inc. and ACOA. The objective of this project is to develop the necessary technologies to add the personalization feature to a local search engine research project known as Genieknows.com. Personalization will allow users to keep track of their search results, as well as enhance their search experience according to their personal search preferences. More precisely, the project aims to develop efficient and transparent search histories and account management technology that will provide more detailed information on users’ search patterns, which can then be analyzed for targeted marketing campaigns and search results. Another element of the project involves the development of an online clustering feature of local search engine results. For example, when a user searches for “Argyle Street” in Halifax they will see the restaurants, businesses, ATMs and other features of that location in their search results. This technology can also be used for industry-specific information, enabling faster information retrieval and more efficient decision-making. The result will be a better user experience, which will translate into a more focused and welcoming market for advertisers. Advertisers will know what the user wants with significantly more precision. This project, with total estimated costs of approximately $3.2 million will receive up to $2 million from the Atlantic Innovation Fund over a two-year period. |
AIF Award
Well done guys! This is great news for GenieKnows.com and Halifax!
reply