Important Notice: ITAP is wrapping up operations for closure
To all of our ITAP members and stakeholders,
In July of 2014 ITAP was hit with yet another major and unanticipated funding cut from our core funder. This precipitated a cash flow crises, resulting in a complete restructuring of our organization, including the layoff of all ITAP staff. Since that time the Board of Directors has been working on a volunteer basis dedicating many hours of personal time and effort to ensure programs in place continued to be delivered in a professional manner as we also tried to negotiate with different levels of government to secure alternative sources of core funding.
While we always understood that reliance on the good will of the Board of Directors to operate ITAP was not tenable in the long term, it was our hope that funding would be secured for future years to continue our efforts on your behalf. Over the last six months, ITAP has been investigating alternative sources of core funding with both Innovation PEI and Skills PEI but unfortunately over the last two weeks it has become clear that the resources being made available are insufficient to maintain a viable organization. ITAP current year’s operations are being funded from our reserves, which are now close to depletion. With no new sources of core funding being made available, the ITAP Board has unanimously agreed that it is time to commence the process of shutting down ITAP operations.
The dissolution of ITAP will be carried out in a manner that respects all of our contractual commitments and key programs such as the IT Garage and the Women in Technology Program. All necessary resources remain in place to ensure that the quality of these programs will not be impacted in any way.
It is an understatement to say that we are saddened to find ourselves at this juncture. We were all excited by the momentum that was building but have come to the difficult decision that it would be a disservice for ITAP to try to represent the sector in such a diminished state. We have not done so lightly and rest assured that we have fully considered all the alternatives before taking this step. We would like to express our gratitude for the support you have given us and for the time and commitment that so many of you have put into ITAP over the years. We remain confident that as the Island’s fastest growing sector, your respective companies will continue to flourish and grow, providing the employment and export revenues which can transform our Island’s economy.
The ITAP Board of Directors