NEW TECHNOLOGY CENTRE WILL BRING SASKATCHEWAN IDEAS TO THE MARKETPLACE THANKS TO FEDERAL AND PROVINCIAL FUNDING

Saskatchewan researchers and entrepreneurs will now be better able to take new technologies and research into the marketplace, thanks to more than $6.2 million in federal and provincial government funding that makes a new centre connected with the University of Regina and Regina Regional Economic Development Authority a reality.

SpringBoard West Innovations Inc., formerly known as the Technology Innovation Centre, has been officially established at Innovation Place Regina.  It is receiving a $3,385,000 investment from Canada’s New Government and the Government of Saskatchewan through the Canada-Saskatchewan Western Economic Partnership Agreement (WEPA) and an additional $2.85 million through Saskatchewan Industry and Resources’ Strategic Investment Fund. 
  
Saskatchewan Finance Minister Andrew Thomson on behalf of Industry and Resources Minister Eric Cline and Regina Qu’Appelle Member of Parliament Andrew Scheer, on behalf of the Honourable Rona Ambrose, President of the Queen’s Privy Council for Canada, Minister of Intergovernmental Affairs and Minister of Western Economic Diversification, made the investment announcement today.

“Saskatchewan’s universities and research parks have an impressive track record of innovation and economic success,” Thomson said.  “Our government is pleased to provide more than $4 million to help SpringBoard build on that record, further enabling our researchers, business and industry, and helping turn the innovations and technologies of today into the Saskatchewan jobs, careers and businesses of tomorrow.”

“Canada’s New Government is getting things done for Saskatchewan’s research and business sectors,” said Scheer.  “The $2.2 million federal contribution is an investment in business growth, competitiveness and economic diversification.  Today’s investment helps Saskatchewan researchers and entrepreneurs convert bright ideas into new products, services and technologies.”

SpringBoard will help in the commercialization of technologies developed at the University of Regina, and serve as a place for industry and entrepreneurs to engage the university in assisting on research and in solving technical and business problems.  Its initial focus will be in the areas supported by the university’s Centres of Excellence in Energy, Environment and Informatics.  The centres will be co-located with SpringBoard at Innovation Place Regina.

To increase technology commercialization in Saskatchewan, SpringBoard will provide services in three areas.  These include technology innovation programming; an entrepreneur in residence program; and technology incubator programming.

SpringBoard interim chair Randy Brunet said the organization will help fill the void that has existed between ideas and the commercial market. 

“SpringBoard will help innovators take an idea, turn it into a product and get it to market,” Brunet said.  “Our success will be measured by the number of ideas we move from concept to commercialization.”

The WEPA support announced today includes a $2.2 million contribution from Western Economic Diversification Canada and $1,185,000 from Saskatchewan Industry and Resources.  The additional $2.85 million from Industry and Resources will help the centre with development and operating costs up to 2013.

The Canada-Saskatchewan WEPA funds initiatives that develop Saskatchewan’s small and medium-sized business sector, support economic and technological innovation, assist in economic diversification, and increase Aboriginal participation in the economic mainstream.

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For more information, contact:

Brenda Tarasiuk
Western Economic Diversification Canada
Saskatoon
Phone: 306-975-5943

Bob Ellis
Industry and Resources
Regina
Phone: 306-787-1691
Email: rellis@ir.gov.sk.ca

Rachelle Holterman
SpringBoard West Innovations Inc.
Regina
Phone: 306-789-0535
Email: www.springboardwest.ca