Smart Skin Technologies Diversifying with Innovative Product for Pharmaceutical and Beverage Markets
July 16, 2019 – Fredericton, NB – Atlantic Canada Opportunities Agency
Using innovation and technology to seize global business opportunities is key to a dynamic economy and to the creation of good jobs for Canadians. That is why the Government of Canada is supporting Fredericton-based Smart Skin Technologies Inc. as it develops new quality assurance products for the pharmaceutical and beverage markets, and takes steps to enter the Japanese and Southeast Asian markets.
Smart Skin Technologies has developed and commercialized a pressure-sensitive skin technology for a variety of applications. The company is now developing new products and features to reduce the quantity of broken and damaged merchandise during packaging and transportation for the pharmaceutical and beverage markets. Smart Skin will also undertake targeted marketing activities to expand its client reach.
The Government of Canada has provided more than $4 million for two projects through the Atlantic Canada Opportunities Agency (ACOA) and the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP).
Matt DeCourcey, Parliamentary Secretary to the Minister of Immigration, Refugees and Citizenship and Member of Parliament for Fredericton, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA and the National Research Council of Canada, along with Smart Skin Technologies Inc. officials made the announcement today.
Economic growth and the creation of good jobs for Atlantic Canadians require innovation and diversification. Support for this project is one way the Government of Canada is working to help businesses scale-up, increase productivity and participate in the innovation economy. Projects like this also contribute to the Atlantic Growth Strategy outcome of long-term economic prosperity in the region.
“Our government is laying the foundation for Canadians to become more competitive and succeed in the global economy by helping companies such as Smart Skin Technologies to develop new products and penetrate new markets, boost economic growth, and create good, middle class jobs for Canadians.”
- The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA and the National Research Council of Canada
“Through ACOA and NRC IRAP, the Government of Canada is making strategic investments that fuel economic growth throughout the region and support diversification in our communities. We are committed to helping businesses like Smart Skin Technologies Inc. innovate and compete on the world stage so they can continue to contribute to the vitality of our communities.”
- Matt DeCourcey, Parliamentary Secretary to the Minister of Immigration, Refugees and Citizenship and Member of Parliament for Fredericton
“Smart Skin Technologies has established itself as the globally recognized innovation leader in our field with our patented QuantifeelTM line of products and services, which are designed to help packaging companies optimize their container handling systems. This drives tangible benefits in productivity and waste reduction throughout the supply chain, representing a multi-billion dollar financial opportunity for producers as well as benefits in sustainability and environmental performance. We already count several of the world’s largest food, beverage, and pharmaceutical companies as clients and export to six continents of the globe. In fact, we have won two consecutive supplier of the year awards for innovation with one large bottling organization and that type of recognition doesn't come from your product alone. It takes a broad spectrum of dedicated people who are passionate about bringing new solutions to a customer’s most pressing problems. It also takes committed investors and funding partners like ACOA that aren't afraid to try new things. We believe that this type of customer-centered, rapid innovation is key to continued relevance with these large globalized organizations and something we could not do alone.’’
- Kumaran Thillainadarajah, CTO, Smart Skin Technologies Inc.
The Government of Canada, through ACOA’s Business Development Program (BDP), provided a repayable contribution of $990,000 to Smart Skin Technologies for product development and is also investing up to $2,984,646 through NRC IRAP towards research and development for the project. The New Brunswick Innovation Foundation (NBIF) also contributed $500,000 towards the project.
ACOA is providing an additional BDP repayable contribution of $55,000 for the company’s marketing project.
The BDP primarily assists Atlantic Canadian entrepreneurs who want to start a business, increase productivity or improve operations.
The Business Development Program continues to build on the objectives of the Innovation and Skills Plan, a multi-year strategy to create well-paying jobs for the middle class and those working hard to join it.
NRC IRAP provides innovation assistance to Canadian small and medium-sized businesses. It offers a range of technical and business advisory services, as well as financial assistance, to help companies invest in research and development, overcome technical barriers, and transform good ideas into commercial success.
Senior Communications Officer
Atlantic Canada Opportunities Agency
Smart Skin Technologies Inc.
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