Government Of Canada Investing in Innovation at QRA Corp Under the Atlantic Innovation Fund
Halifax, N.S. – Atlantic Canada Opportunities Agency – ACOA
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.
“Innovation is a core component of the Atlantic Growth Strategy, helping to foster a thriving middle class and open the region to new economic, social and environmental possibilities. That is why we are committed to positioning Atlantic Canada as a full participant in the changing economy by supporting innovative companies such as QRA Corp as a central part of our plan to facilitate the region’s successful transition into the economy of tomorrow.”
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA
“The Government of Canada is committed to positioning Canada as a global centre of innovation—one that focuses on strengthening the middle class by creating jobs, driving growth across all industries and improving the lives of all Canadians. This project is representative of nearly all areas of action contained within our Innovation Agenda, and is representative of research and development that leads to a strong innovation culture in Canada.”
– The Honourable Scott Brison, President of the Treasury Board of Canada and Member of Parliament for Kings-Hants
“Nova Scotia has a dynamic cluster of defence, aerospace and marine companies that will all be looking to QRA Corp for the opportunities that QVtrace can create with regards to cost-savings, innovative design, and advanced analysis. The opportunities aren’t limited to our shores. This is a technology that will have instant international appeal—one that will encourage the world to recognize Nova Scotia’s leadership in creating innovative solutions bound for global markets.
– Andy Fillmore, Member of Parliament for Halifax
“We’ve experience first-hand how the hardware-software boundary has become increasingly blurry, and the rise of design thinking and human-computer interaction is breathtaking – it is transforming the critical infrastructure in which we trust our lives,” said Jordan Kyriakidis, QRA Corp Co-Founder and CEO. “For new systems such as autonomous cars and commercial spacecraft to be deployed and accepted, we need to ensure that errors in the integrated design are caught during the earliest stages of development. These are early days, but that’s what we do. It’s why we exist – and this funding is allowing us to work even harder towards fully accomplishing our mission.”
– Dr. Jordan Kyriakidis, Co-founder and CEO of QRA Corp
Associated Links :
QRA Consulting Inc.
ACOA assistance: $2,994,928 (AIF Conditionally Repayable)
Total Project Costs: $3,993,238
QRA Consulting Inc. (QRA Corp) is located in Halifax, Nova Scotia, and specializes in the development and implementation of advanced verification and validation software platforms for industrial applications such as aircraft manufacturing.
With an investment of $2,994,928 under the AIF, this project will focus on the development of a commercial, industry-ready software tool, QVtrace, to assist system engineers in the rigorous analysis and verification of early-stage engineering designs. The intent of this system will be to significantly reduce the number of system faults due to errors in complex requirements and designs.
QRA Corp will collaborate with Lockheed Martin Aeronautics on this project. Benefits of this project include the creation of 13 new research and development positions and expanding applications of this technology to additional markets.