Charlottetown, PEI - February 20, 2025

Yesterday marked a significant milestone for Prince Edward Island's tech sector as we officially launched The Foundry, PEI's hub for technology innovation, collaboration, and growth. Operated by the PEI IT Alliance, The Foundry is designed to be a nexus point for tech entrepreneurs, startups, and industry leaders, providing the resources, mentorship, and community needed to drive the industry forward.

Who We Are

The PEI IT Alliance represents 908 members, including 89 companies and organizations, all committed to strengthening and expanding PEI's tech ecosystem. With over 3,000 professionals working in the province's IT sector, tech is an increasingly important driver of economic growth, contributing approximately 5% to PEI's GDP.

Why Now?

PEI has a rich history of technological innovation, punching well above its weight class. Did you know that:

• The first mobile game on the iPhone, Super Monkey Ball, was made here by Other Ocean Interactive.
• The wildly successful The Simpsons: Tapped Out, generating over $600M in lifetime revenue, was created by Bight Games in Charlottetown.
• Several PEI tech companies have been acquired in recent years, collectively worth hundreds of millions of dollars.
• Some of the world's top tech talent call PEI home, including a Chief Security Officer at Microsoft and one of the early developers of Gmail.

This backdrop of innovation is a strong foundation for continued growth and development of the tech sector.

The Foundry: Space, Community & Programming

The Foundry is a collaborative hub at the heart of PEI's tech ecosystem. Located at 163 Great George Street in downtown Charlottetown, it serves as a gathering place for startups, industry professionals, and innovators. Here's what it offers:

• A dynamic workspace - Featuring meeting rooms, whiteboards, coffee, printers, and all the essentials for productive collaboration.
• Expert-led programming - Workshops, speaker series, and networking events designed to inspire and accelerate growth.
• A thriving community - Already home to 18 companies and 53 tech professionals, with more joining every day.
• Powerful partnerships - Connected to Volta, Propel, Startup Atlantic, Island Capital, UPEI, and Holland College, with pathways to global accelerator and funding networks.

We were excited to officially launch The Foundry Residency yesterday at our event. Foundry Residency will provide early-stage tech companies with a structured, high-impact growth model.

Participating startups will undergo:

• 90-Day Growth Plan Execution - Startups will build and work through a customized roadmap focused on achieving product-market fit and hitting key commercial milestones, measuring progress against clear objectives.
• Expert Mentorship & Coaching - Founders will receive tailored guidance from experienced industry professionals, helping them navigate challenges and scale effectively.
• Accountability & Progress Tracking - Regular check-ins and Demo Days will keep teams focused and provide opportunities to showcase progress to peers, mentors, and potential investors.

Acceptance to The Foundry Residency is rolling and we encourage you to apply today here: www.peiitalliance.com/the-foundry

Thank You to Our Funding Partners

This vision for The Foundry would not be possible without the support of our funding partners. We extend our sincere gratitude to the Government of Canada (through ACOA) and to Innovation PEI. Their commitment to supporting PEI's digital economy ensures that tech entrepreneurship remains a pillar of economic growth in our province.

Join Us

PEI's tech sector is growing and we'd love to hear from you. Whether you're a founder, investor, tech enthusiast, or supporter, we invite you to be part of this exciting journey.

Stay connected with us:

• 📧 Sign up for our newsletter to stay up to date on upcoming events, residency applications, and networking opportunities.
• 🌍 Visit our website: peiitalliance.com
• 📍 Drop by The Foundry: 163 Great George Street, Charlottetown

Let's build the future of tech on PEI!