22 June 2010
St. John's, Newfoundland and Labrador
The Honourable Keith Ashfield, Minister of National Revenue, Minister of the Atlantic Canada Opportunities Agency (ACOA), and Minister for Atlantic Gateway, today announced a total investment of more than $450,000 to help advance Newfoundland and Labrador’s ocean technology sector.
The Newfoundland and Labrador Association of Technology Industries (NATI) will receive $360,000 to work with partners OceansAdvance and Memorial University of Newfoundland to implement an Ocean Technology Commercialization Initiative, while OceansAdvance will receive $92,000 to help it further develop and accelerate the growth of the province’s ocean technology sector.
“Newfoundland and Labrador’s reputation as a centre of oceans excellence is gaining great momentum around the globe,” said Minister Ashfield. “Our government’s investments in innovation in ocean technology through organizations such as NATI and OceansAdvance will help ensure the ocean’s industry is positioned to build on its success and expand the sector.”
NATI’s Ocean Technology Commercialization Initiative will implement collaborative activities aimed to build knowledge and partnerships to commercialize research and development and expand domestic and export markets for the provincial ocean technology sector. Activities will include market research, competitive intelligence, outreach and investment attraction, network facilitation, commercialization planning and technology demonstration projects. The steering committee includes NATI, OceansAdvance, Memorial University of Newfoundland and ACOA.
“While NATI members come from many different areas of the advanced technology community, we see real and immediate potential in oceans technology and are eager to help our members realize that potential,” said Paul Dubé, NATI Chair. “Research and development is critical but so too is bringing the results of that R&D to market and creating wealth for our companies and our province. This initiative will help with that next stage.”
OceansAdvance is a multi-stakeholder, regional technology cluster initiative aimed at making St. John’s an international location of choice for ocean technology. This funding will assist OceansAdvance to continue the implementation of Outward Bound 2015 – a strategic agenda for growing Newfoundland and Labrador’s ocean technology sector.
“Outward Bound 2015 can be considered a “road map” for the growth of our ocean technology sector,” said OceansAdvance Executive Director Les O’Reilly. “It will result in major long-term economic benefits to the province based on commercial opportunities around the globe.”
The Government of Canada investment in NATI is from ACOA’s Atlantic Innovation Fund. The OceansAdvance investment is through ACOA’s Business Development Program.
FOR BROADCAST USE:
ACOA Minister Keith Ashfield today announced two investments in Newfoundland and Labrador’s ocean technology sector. The Newfoundland and Labrador Association of Technology Industries (NATI) will receive $360,000 from the Atlantic Innovation Fund to develop and lead an Ocean Technology Commercialization Initiative, while OceansAdvance will receive $92,000 to help further develop and accelerate the growth of the province’s ocean technology sector.
The Minister made the announcement as part of a working visit to Newfoundland and Labrador to promote the Government of Canada’s investments in innovation in this province.
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INFORMATION:
Doug Burgess
Director, Public Affairs
Atlantic Canada Opportunities Agency (ACOA)
NL
709-772-2935
Jennifer Kelly
Events/Marketing Coordinator
NATI
709-757-3251
Cathy Hogan
Oceans Advance
709-738-7059
