Supercluster tech groups to share in up to $950 million in federal funds

An Atlantic Canada technology group is one of five across the country that will share up to 950-million dollars in the federal government's "superclusters" initiative.

The "Ocean supercluster" is meant to use innovation to improve competitiveness in Canada's ocean-based industries, including fisheries, oil and gas and clean energy.

The supercluster concept is designed to bring together small, medium and large companies, academic institutions and not-for-profit organizations to generate job-creating ideas and innovation.

In announcing the winning bidders Thursday, Innovation Minister Navdeep Bains called the superclusters a job magnet.