With the new year arriving soon, the Honourable Bernard Valcourt, Minister for State for the Atlantic Canada Opportunities Agency (ACOA) and La Francophonie, today provided an update regarding investments made during the past year in innovation.
“We understand that innovation and scientific discoveries are engines of economic growth and job creation. That is why in 2011, the Government of Canada, through ACOA, invested more than $117 million in over 370 innovation- related projects in Atlantic Canada,” said Minister Valcourt. “By making targeted investments in research and development in Atlantic Canada, we are helping to improve workforce productivity, enhance our country’s economic competitiveness and increase the standard of living of all Canadians.”
ACOA’s innovation programming is helping small and medium- sized businesses in Atlantic Canada to increase productivity and improve their competitive position. Whether it is for a new business or the expansion or modernization of an existing one, the Agency’s investments are enabling businesses to make improvements, reduce waste generation, acquire new technologies, train workers, leverage additional private sector investments, and commercialize their ideas.
ACOA also supports research and development (R&D) in Atlantic universities and research centres, thereby strengthening the region’s innovation capacity and facilitating the transfer of new ideas from labs to the marketplace. A key partnership in identifying and capitalizing on those potential commercial opportunities is Springboard Atlantic Inc., a regional commercialization and industry network comprised of 19 Atlantic Canadian post- secondary institutions. In August of this year, the Agency provided an $8.5 million federal investment to Springboard to increase research commercialization collaboration, support the creation of new and improved products, streamline processes and develop a skilled and competitive workforce.
Some examples of ACOA-supported home-grown projects during the past year include:
• Soricimed Biopharma, located in Sackville, New Brunswick, is developing a new diagnostic tools for early detection and treatment of ovarian, prostate and breast cancers that will improve a patient’s chances for successful treatment and recovery.
• Halifax, Nova Scotia–based Immunovaccine Technologies Inc. is developing immunotherapies to be used in the treatment of cancer patients.
• MDS Coating Technologies Corporation, located in Slemon Park, Prince Edward Island is developing machine capabilities for use in the application of protective coatings used in the aerospace industry.
• Browning Harvey Limited of St. John’s, Newfoundland and Labrador, is introducing environmentally sustainable packaging to their production process.
• Groupe Savoie, based in Saint-Quentin, New Brunswick, is increasing its productivity by 20% and improving the quality of its hardwood products with the purchase of a new automated wood grading line.
• The Fisheries and Marine Institute of Memorial University of Newfoundland, located in St. John's, Newfoundland and Labrador, is developing a new bottom trawl fishing technology that allows fishermen to catch commercial quantities of fish while reducing environmental impacts on the seabed.
Funding for these projects was provided either through the Atlantic Innovation Fund (AIF), the Business Development Program (BDP) or the Productivity and Business Skills Initiative (PBSI). These programs are designed to increase Atlantic Canada’s innovation capacity and maximize growth potential, productivity and competitiveness.
Particularly, the Atlantic Innovation Fund (AIF) plays a significant role in enhancing Atlantic Canada’s ability to carry out and commercialize leading-edge R&D and in bringing new knowledge, jobs and business opportunities to the region. The fund has been an important catalyst for many Atlantic Canadian businesses, universities and research institutions, creating close to 760 partnerships to help commercialize innovative ideas, products and services. It has also assisted with the creation of more than 1,250 full-time jobs for highly skilled innovators, researchers and scientists, as well as training opportunities for nearly 1,000 students in the region.
FOR BROADCAST USE:
Today, ACOA Minister Bernard Valcourt provided an update regarding investments made over the last year in innovation. The Government of Canada invested more than $117 million in over 370 innovation projects in Atlantic Canada in 2011.
Minister Valcourt said that innovation and scientific discoveries are engines of economic growth and job creation. By making targeted investments in research and development in Atlantic Canada, we are helping to improve workforce productivity, enhance our country’s economic competitiveness and increase the standard of living of all Canadians.
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INFORMATION:
Andrea Richer
Press Secretary
Office of the Honourable Bernard Valcourt
613-790-3637
Jennifer Goostrey
Manager, Client Services
Communications
Atlantic Canada Opportunities Agency
506-229-0295
