Clean tech experts say new P.E.I. education and business hub has potential
CBC
The new clean tech park planned for Georgetown, P.E.I., has some interesting potential, according to two leaders in the field —one in Canada and the other in Denmark.
The government of P.E.I. announced in February that it is planning to build a $25-million park that will be a hub for business and education, and would include a 44,000 square-foot Clean Tech Learning and Innovation Centre, as well as a 25 hectare business park.
Tyler Hamilton has been working in the clean tech field for 15 years. He's currently the director of clean tech for the MaRS Discovery District in Toronto, which is a non-profit urban innovation hub that supports startups and scale-ups including in the clean tech sector.
"Clean tech is a very broad term. It captures a lot of things, but generally we think of it as anything that is a technology that reduces environmental and climate impacts, but does so in a way that is also very economical," Hamilton said.
Hamilton said the clean tech sector has expanded dramatically in recent years.
"I've been at this for about 15 years, and I've never seen so much interest around it," Hamilton said.
"The amount of capital available for both the private sector and government seems like it's very top of mind for a lot of investors, and it's being recognized as a necessity if we're going to meet net-zero targets around climate change," Hamilton said.
"The Canadian government also sees it as a engine of economic growth in the 21st century."
Hamilton said the new Clean Tech Learning and Innovation Centre on P.E.I. has the potential to capitalize on that interest.
"I think it's a smart move. I think that what it will do is seed next generation companies that are coming out of research that's happening, not just on the East Coast, but from across Canada," Hamilton said.
"It's likely to attract more companies to the region, particularly because of the zone that they're creating that gives tax advantages for companies setting up shop there."
The P.E.I. government has committed to setting up three tax-free clean tech development zones in the province, including the one in Georgetown.
"I do think that there will be some attraction to bring companies from other parts of Canada too, particularly early stage companies that are looking at extra support that they can't get in other places, or are looking for a much lower cost place to set up shop," Hamilton said.
"Because, as you know, Toronto and Vancouver are very expensive markets, and I think there's an attraction to taking advantage of the resources in the east, but also some of the lower cost of operations that you would get there."
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