I see all this money (or talk of money) being doled out as economic stimulus and I have to say the best spending annoucement to date is this one. The feds are putting another $8 million into PEI’s nascent nutraceutical industry cluster strategy – a total of $20 million overall.
Obviously, the test of the success of this cluster will be its ability to attract in private sector R&D and ultimately significant business investments. I hope they don’t succumb to the temptation to make this a 90% government/10% a few small PEI firms’ cluster. I hope they have a serious plan to bring in some big name or fast growing firms to help plant this cluster and make it into a true economic driver for the Island.
I think I mentioned once that I interviewed some immigrants on PEI and most of them were PHDs brought in from Israel, the USA and India to work in that new cluster.
I’d like to see this kind of rigour in New Brunswick and the rest of Atl. Canada at a cluster development level. Just selling the province is not good enough. Just trying to incubate entrepreneurs is not enough. Just putting money into R&D is not enough. Just spending money on education is not enought. Investing in infrastructure is not enough. But put those all together in a coordinated way and you just might get a little magic out of it.