September 23, 2010 — St. John's, Newfoundland and Labrador
The telecommunications and semi-conductor industry will soon have faster microchips that provide improved networking capabilities, thanks to an investment made in a St. John's business by the Government of Canada, The announcement was made by Senator Fabian Manning, on behalf of the Honourable Gary Goodyear, Minister of State (Science and Technology).
"Our government is investing in science and technology to create good jobs, strengthen the economy and improve Canadians' quality of life," said Senator Manning. "This investment will help Avalon Microelectronics Inc. develop, manufacture, and market intellectual property to create ever-faster microchips."
Avalon Microelectronics will receive a contribution of up to $506,176 from the National Research Council of Canada's Industrial Research Assistance Program to develop a suite of products targeted at international markets. These potential new revenue streams will help to support Avalon's continued investments in advanced telecommunication technology and the development of new markets. Avalon will also receive up to $30,000 to hire a new junior design engineer under the Industrial Research Assistance Program Youth Employment Program.
"Over the last four years, the Industrial Research Assistance Program has been a major contributor to Avalon's success," said Wally Haas, President of Avalon Microelectronics. "NRC-IRAP, through various programs, has enabled Avalon to hire talented engineers and to complete research and development products that have resulted in leading-edge products being developed and sold around the world."
Founded in 2004, Avalon Microelectronics is one of the world's leading providers of intellectual property in the semi-conductor industry. This ground-breaking company develops intellectual property - or IP - for high speed fibre optics communication networks, primarily used in telecommunication transport systems.
The Industrial Research Assistance Program provides a range of both technical and business-oriented advisory services along with necessary financial support to qualified innovative small and medium-sized enterprises in Canada.
The program is delivered by a field staff of 240 professionals in more than 100 communities across Canada. The National Research Council of Canada is committed to working with small and medium-sized enterprises while they realize their full potential, turning knowledge and innovation into strategic opportunities, jobs and prosperity for all Canadians.
Canada's Economic Action Plan provided new resources of $200 million to the National Research Council's Industrial Research Assistance Program over two years to support innovative Canadian firms. To learn more, visit Canada's Economic Action Plan website.
