For Release
April 2, 2007
Regina, Saskatchewan – Saskatchewan researchers
and entrepreneurs will now be better able to take new technologies and
research into the marketplace, thanks to more than $6.2 million in federal
and provincial government funding that makes a new centre connected with
the University of Regina a reality.
SpringBoard West Innovations Inc., formerly known as the Technology Innovation
Centre, has been officially established at Innovation Place Regina. It
is receiving a $3,385,000 investment from Canada’s New Government
and the Government of Saskatchewan through the Canada-Saskatchewan Western
Economic Partnership Agreement (WEPA) and an additional $2.85 million
through Saskatchewan Industry and Resources’ Strategic Investment
Fund.
Saskatchewan Finance Minister Andrew Thomson and Regina Qu’Appelle
Member of Parliament Andrew Scheer, on behalf of the Honourable Rona Ambrose,
President of the Queen’s Privy Council for Canada, Minister of Intergovernmental
Affairs and Minister of Western Economic Diversification, made the investment
announcement today.
“Saskatchewan’s universities and research parks have an impressive
track record of innovation and economic success,” Thomson, representing
Industry and Resources Minister Eric Cline, said. “Our government
is pleased to provide more than $4 million to help SpringBoard build on
that record, further enabling our researchers, business and industry,
and helping turn the innovations and technologies of today into the Saskatchewan
jobs, careers and businesses of tomorrow.”
“Canada’s New Government is getting things done for Saskatchewan’s
research and business sectors,” said Mr. Scheer. “The $2.2
million federal contribution is an investment in business growth, competitiveness
and economic diversification. Today’s investment helps Saskatchewan
researchers and entrepreneurs convert bright ideas into new products,
services and technologies.
SpringBoard will help in the commercialization of technologies developed
at the University of Regina, and serve as a place for industry and entrepreneurs
to engage the university in assisting on research and in solving technical
and business problems. Its initial focus will be in the areas supported
by the university’s Centres of Excellence in Energy, Environment
and Informatics. The centres will be co-located with SpringBoard at Innovation
Place Regina.
To increase technology commercialization in Saskatchewan, SpringBoard
will provide services in three areas. These include technology innovation
programming; an entrepreneur in residence program; and technology incubator
programming.
SpringBoard interim chair Randy Brunet said the organization will help
fill the void that has existed between ideas and the commercial market.
"SpringBoard will help innovators take an idea, turn it into a product
and get it to market. Our success will be measured by the number of ideas
we move from concept to commercialization," said Brunet.
The WEPA support announced today includes a $2.2 million contribution
from Western Economic Diversification Canada and $1,185,000 from Saskatchewan
Industry and Resources. The additional $2.85 million from Industry and
Resources will help the centre with development and operating costs up
to 2013.
The Canada-Saskatchewan WEPA funds initiatives that develop Saskatchewan’s
small and medium-sized business sector, support economic and technological
innovation, assist in economic diversification, and increase Aboriginal
participation in the economic mainstream.
For additional information, contact:
Brenda Tarasiuk
A/Manager, Communications
Saskatoon, SK
Western Economic Diversification Canada
Tel: (306) 975-5943
Stephen King,
External Relations
University of Regina
Phone: (306) 585-5439
Cell: (306) 536-4312
Fax: (306) 585-4997
E-mail: Stephen.King@uregina.ca
Bob Ellis
Director of Public Affairs
Saskatchewan Industry and Resources
Regina, SK
Tel: (306) 787-1691
WD Toll-Free Number:
1 888 338-WEST (9378)
Web Site: WD is online at
www.wd-deo.gc.ca.
Subscribe to news releases and keep up-to-date on the latest from WD.
Backgrounder
SpringBoard West Innovations Inc.
SpringBoard will help researchers, industry and entrepreneurs take their
ideas from the lab to the marketplace and increase technology commercialization
in Saskatchewan.
Led by an interim six-member board of directors, SpringBoard will bring
together the University of Regina, business, researchers and entrepreneurs
in a collaborative and interdisciplinary environment that mixes innovation
and entrepreneurship. The board will have representatives from the university,
the private sector and the funding stakeholders.
A manager will be hired to run the centre’s day-to-day operations,
which will be located at Innovation Place Regina.
SpringBoard will provide services in three areas:
Technology Innovation Programming
The organization will develop a suite of workshops, seminars, networking
sessions, and host tradeshows and major conferences, for clients, the
technology and business community, and stakeholders throughout the province.
The programming will focus on Energy, Environment and Informatics.
The centre will also organize annual major conferences in one of the
areas.
Entrepreneur in Residence Program
Two entrepreneurs in residence will share their expertise with new
entrepreneurs, researchers and existing businesses. The centre will
recruit business professionals and entrepreneurs with extensive executive
level experience for one-year terms.
Technology Incubator Services
SpringBoard will provide incubator services that address three components
of the commercialization process – discovery and feasibility,
pre-commercialization, and commercialization. These services will be
facilitated by SpringBoard staff working in partnership with the University
Industry Liaison Office (UILO) and other associated stakeholders and
programs.
The discovery and feasibility component will determine which applicants
and projects will be accepted into which program areas. This component
will also include assistance with intellectual property and patents.
Pre-commercialization services will include assistance with technology
development, business development, and funding development. This component
will rely on industry sponsorship for funding.
The commercialization component will provide shared office and
lab space and administrative services; and management and business
consulting services.
