Patriort One Technologies (TSXV:PAT) announced its pre-qualification for up to C$1 million under the Build in Canada Innovation Program (BCIP) for testing by the Department of National Defense. As quoted in the press release: The BCIP program helps innovators in four different ways: land a first major reference sale, sell their innovation, but keep and … Continued
Patriort One Technologies (TSXV:PAT) announced its pre-qualification for up to C$1 million under the Build in Canada Innovation Program (BCIP) for testing by the Department of National Defense.
As quoted in the press release:
The BCIP program helps innovators in four different ways:
- land a first major reference sale,
- sell their innovation, but keep and control the intellectual property,
- get their innovation tested in real-life settings and
- gain feedback to help advance products to market faster.
As a BCIP innovator, Patriot One submitted its proposal to the program in early 2018 once the Company’s PATSCAN threat detection solutions achieved an adequate Technology Readiness Level (TRL). Under call for proposals 007 guidelines, the Company was evaluated on the merit of innovation. Upon pre-qualification, the BCIP program sourced a Canadian Government Department as test partner.
The BCIP program opportunity pays up to $500,000 for non-military innovations and up to $1,000,000 for military innovations. Patriot One was pre-qualified under the military innovation component of the BCIP program.
There are six priority areas within the military component. These priority areas include (i) Arctic & Maritime Security, (ii) Command & Support, (iii) Cyber-security, (iv) In-Service support, (v) Protecting the Soldiers and (vi) Training Systems. Patriot One meets several of these priority areas, specifically: Arctic/Maritime Security and Protecting Soldiers.
“We are excited to pre-qualify for up to $1 million (CAD) for the Military Component of the Build in Canada Innovation Program,” expressed Martin Cronin, CEO and President of Patriot One Technologies. “The ability to test our PATSCAN CMR and some of our other threat detection solutions in a real-life setting with an arm of the Department of Defense is exciting for our entire team. As a Canadian-based company, we are truly honored to be part of this effort to protect our serving military personnel around the world.”