Canada’s latest tech hub officially opened in the smallest province last night with more than $1.5 million in federal and provincial funding.
Located on Great George Street in downtown Charlottetown, PEI, The Foundry is operated by the PEI IT Alliance, an industry association formed in 2022 to represent and develop the province’s information technology sector. The Foundry aims to foster growth and collaboration within PEI’s tech ecosystem by bringing startups, established companies, and industry experts into its co-working space.
“Our maturing tech ecosystem here in PEI is taking its next step.”
Sean Casey
Charlottetown MP
Charlottetown Member of Parliament (MP) Sean Casey announced a Government of Canada investment of $855,000 for the PEI IT Alliance at The Foundry’s grand opening, meant to support startup programming, mentorship, workshops, and events in the new hub to connect entrepreneurs with industry leaders, investors, and potential partners.
The funding was delivered through the Atlantic Canada Opportunities Agency’s Regional Economic Growth through Innovation program. The Province of PEI, through Innovation PEI, also supported the project with a pledge of $712,500 to be delivered over 19 months.
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“Our small Island has long had its finger on the pulse of a rapidly changing tech landscape,” Casey said in a statement. “Now, thanks to the industry leaders and innovators of the PEI IT Alliance, our maturing tech ecosystem here in PEI is taking its next step.”
Just one day after The Foundry’s opening, PEI Premier Dennis King announced today that he would be stepping down from his post after six years leading the province.
In a press conference, King explained that he had made the decision over the holidays to not seek re-election with , but held out from informing his caucus as he searched for the appropriate time. He said that time became evident as nascent political issues, like the threat of tariffs from the United States, made it clear he should hand the baton to someone who could be “focused for the long term.”
Feature image courtesy Sean Casey via X.