The Canada-Atlantic Provinces Agreement on International Business Development (IBDA) helps to increase international business activities in Atlantic Canada by funding projects designed to help small and medium-sized companies explore, enter and succeed in international markets.
Companies that export grow faster and create more and better paying jobs.
In Atlantic Canada, every $1 million in exports sustains four to five jobs.
The IBDA helps Atlantic Canada’s companies explore markets near and far and successfully compete in the global marketplace, which contributes to a sustainable economy for the region. The IBDA also produces tangible results for Atlantic businesses: In 2012 alone, companies attending IBDA missions reported over $40 million in sales, projected sales and partnerships.
Through the IBDA, the federal and Atlantic provincial governments have built a successful partnership that enables the Atlantic region to pool resources and move forward with a coordinated strategic approach. This collaboration helps Atlantic Canadian businesses benefit from a wide variety of activities aimed at expanding international business opportunities.
Acadian Seaplants Limited is a global leader in cultivating and processing seaweed and seaweed-based products for food, nutraceutical, and agricultural use. The company’s innovative approach, developed in Atlantic Canada, has led to seaweed cultivation, marine plant extraction and product manufacturing processes that are unique in the world. As a result of its participation in IBDA-funded Atlantic BioPartnering missions (2008 to 2013), Acadian Seaplants was able to secure valuable contracts with Brazilian firms, which helped the company establish a presence in the lucrative Brazilian market.
Fancy Pokket Corporation is one of Atlantic Canada’s leading manufacturers of pita breads, bagels, pizza crusts, Greek pitas, flat breads, paninis and tortilla wraps. During its participation in IBDA-funded missions to the Americas Food and Beverage show, and to food industry missions to North and South Carolina, the company had the opportunity to set up contacts and gain a better understanding of the markets. As a result, the company is now setting up a gluten-free bakery in South Carolina, and expects to begin exporting to the US in 2014.
GRI Simulations is a Canadian company providing subsea simulation services for domestic and international customers. GRI supports subsea remotely operated vehicle operations by providing simulation technology to enhance pilot training, mission planning and rehearsal, as well as project design, support applications for offshore energy and construction, and well containment response. During its participation in several IBDA-funded missions, including Oceanology International China in 2013, GRI representatives made new contacts, which eventually led to new partnerships.
Neurodyn is a Canadian clinical trial stage biotechnology company focused on the discovery and development of products for the early detection and treatment of neurological diseases. Neurodyn participated in IBDA-funded missions to BIO 2012 and 2013 and in the 2009, 2010 and 2013 Atlantic BioPartnering missions, events which aim to match foreign investors with local companies for mutual benefit. These missions allowed the company to make important contacts and secure major new contracts.