Advances in research and development (R&D) lead to innovation and, ultimately, new economic opportunities. In this province, R&D funding over the 1990s averaged about $105 million annually, funded mainly by the federal and provincial governments (over 50% of the total), as well
as by businesses and educational institutions. Over 50% of investment was allocated to Memorial University of Newfoundland and its affiliated institutes such as the Marine Institute, C-CORE, AquaNet, and the Oceans Sciences Centre.
Biotechnology R&D, an emerging activity in the province, is primarily focussed on marine applications. The biotechnology sector employs about 400 people, and R&D spending in 1999 was estimated at $3.5 million. Biotechnology R&D is expected to increase over the next several years. In 2005, the province will host the International Marine Biotechnology Conference, marking the first time this conference will be held in Canada. This is the only international conference to focus specifically on marine biotechnology. Organizers anticipate that 500 delegates from 35 countries will attend this event which will provide an excellent networking opportunity for local industry.
Three successful local firms actively involved in the R&D sector are profiled below.
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is a supplier of real-time information systems for the aerospace, polymer fiber, and ice detection industries. Founded in 1979, the company employs 48 people in R&D and production. INSTRUMAR plans to expand R&D activity related to advanced sensor technology in 2002, and has secured about $10 million in venture capital and federal research grants. The company expects to create 28 jobs during the R&D phase and an additional 250 jobs during commercial production.
of Memorial University maintains two R&D divisions. Genesis Research identifies and markets new technologies, ranging from cancer treatments to Internet software, and transfers these technologies to the private sector. Spin-off companies include AF Protein Inc. and Nova Lipids Inc. The other division, Genesis Bio-East, is a network of over 50 businesses, government, and academic institutions which facilitates the strategic growth of biotechnology in the province.
(CCMC), established in 1989, collaborates with the Canadian information and communications technology industry in the development of products and services for global marine markets. CCMC facilitates partnerships between industry, research centres, academia, and government in support of the growth of the Canadian marine technology sector. Acting as an investment partner, CCMC positively impacts both the technical and commercial success of this industry. |
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