February 7, 2011 - Ottawa, Ontario
The Honourable Gary Goodyear, Minister of State (Science and Technology), today announced an investment to J.A.M. Taylor Tool Co. from the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP) and recognized VeriForm Incorporated as a Canadian Innovation Leader for its success in developing products and services for the mining, forestry and machine building industries.
"Our government is investing in science and technology to create good jobs, strengthen the economy and improve Canadians' quality of life," said Minister Goodyear. "This government is supporting firms in Canada that successfully develop innovative technologies. Canada's Economic Action Plan is supporting scientific research and commercialization while creating new jobs and economic growth."
J.A.M. Taylor Tool Co. will receive up to $27,747 from NRC-IRAP to identify new market growth opportunities. With this project, the company aims to prepare for future decades by gaining a better understanding of their market and developing a strategy for growth opportunities in service and product innovation and commercialization.
"NRC-IRAP has facilitated many professional relationships that have benefited Taylor Tool's exploration of innovative ideas and strategic thinking'' said John Hinde, President of J.A.M. Taylor Tool Co. "We look forward to maintaining our relationship with NRC-IRAP for years to come."
A Canadian Innovation Leader Certificate was also presented to VeriForm Inc. to recognize it as an innovative Canadian firm that has successfully linked scientific research to commercialization, jobs and economic growth. Through Canada's Economic Action Plan, VeriForm Inc. received financial contributions of $50,000 to develop, and ultimately commercialize, a system that controls building lighting and heating. The new product is expected to help reduce total energy consumption in the manufacturing process by more than 20%, resulting in substantial annual cost savings and a reduction of carbon dioxide emissions.
"We are very happy to have our efforts and success recognized with this Canadian Innovation Leader Certificate", said Paul Rak, President of VeriForm. "With the funds received from NRC-IRAP, we were able to develop new energy savings products that are already benefiting Canadian companies by allowing them to save on their energy costs. These savings directly translate to giving Canadian businesses the ability to compete much better on the global market. We truly thank the federal government for their financial support of these new technologies because we might not have been able to develop the new products without federal support.''
Canada's Economic Action Plan provided new resources of $200 million to NRC-IRAP over two years to support innovative firms in Canada. To learn more, visit Canada's Economic Action Plan website.
Founded in 1918, J.A.M. Taylor Tool Co. is a specialized cutting tool manufacturer that services, among others, the automotive, aerospace, power generation and defence industrial sectors in Canada and abroad. It offers customized threading solutions in various manufacturing processes and manufactures special taps, dies and reamers. It currently has 21 employees.
Founded in 1997, VeriForm Incorporated currently has 26 full-time employees on staff. It specializes in designing and manufacturing custom parts for sheet metal and plate fabricating for mining, forestry and machine building industries across North America.
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.
