Receives $2 Million from Atlantic Innovation Fund
Halifax, NS – Award-winning Halifax innovator MathResources Inc., was awarded $2 million from the Atlantic Innovation Fund yesterday. Founded on the premise that a true technological society is built on a comprehensive and pervasive understanding of mathematics, MathResources develops world-class interactive math software and online content for teachers and students. MathResources will use this infusion of working capital to help fund the research and development of a second-generation online math learning website with the capability to adjust to students’ individual learning styles.
“"It is especially exciting that development of our project is beginning just as the Innovation Agenda comes into full existence,” says Dr. Jon Borwein, a founder and a member of the Board of Directors of MathResources. “Nothing could be more critical to the future supply of highly qualified people than helping to enhance the quality of school mathematics teaching and learning.”
MathResources plans to use the $2 million to help leverage equity financing, enabling the company to begin the research and development of state-of-the-art online content to help teachers and students more easily learn advanced math. No other content of this nature exists that is specifically able to tailor its teachings to individual learning styles. MathResources believes that a site can be built that will more closely emulate real teacher/student interaction. Through a series of initial tests based on classical learning theory, the site will identify each user’s learning style and utilize the most effective method of teaching for that particular student.
E-learning is a rapidly growing field that presents both fiscal and educational opportunities. The educational e-learning market is projected to be worth approximately $8 billion dollars in North America by 2004 (statistics provided by International Data Corp). Within the e-learning field, math is recognized as the keystone discipline on which all scientific and technological learning is based. By 2004, MathResources plans to be strategically positioned in the middle to high school and community college market.
MathResources, Inc. Halifax, NS is a Canadian company founded in 1996, and is devoted to the development of powerful resources for the math classroom. It has won several awards for innovative teaching products including Technology and Learning Magazine’s Award of Excellence 2000, ComputEd’s 2nd Annual Education Software Review Award (EDDIEs), and TeleLearning Network Centres award for Excellence. The MathResources team is made up of mathematicians, teachers, and programmers - all working together to enable students to enjoy the resources of technology in learning about math.
The Government of Canada's Atlantic Innovation Fund (AIF), finances research and development and related initiatives in the areas of natural and applied sciences, and social sciences and humanities linked explicitly to the development of technology-based products, processes or services, or their commercialization. The AIF strives to strengthen this region's system of innovation. On July 2nd, the Minister of State for the Atlantic Canada Opportunities Agency, Gerry Byrne, announced that a total of 47 projects would receive close to $155 million in funding through the first round of the Atlantic Innovation Fund.
For more information, please visit www.mathresources.com, or contact: