Marine Institute site of Federal funding announcement

Senator Fabian Manning, on behalf of the Honourable Keith Ashfield, Minister of National Revenue, Minister of the Atlantic Canada Opportunities Agency (ACOA) and Minister for the Atlantic Gateway, made an important funding announcement while touring the Fisheries and Marine Institute on Monday, March 14.

Tuesday, March 15, 2011

Atlantic Canada will continue to grow as a leader in innovation, thanks to new investments that will help researchers and entrepreneurs move their cutting-edge research and development from the lab to the marketplace. The announcement was made by Senator Fabian Manning, on behalf of the Honourable Keith Ashfield, Minister of National Revenue, Minister of the Atlantic Canada Opportunities Agency (ACOA) and Minister for the Atlantic Gateway, while touring the Fisheries and Marine Institute of Memorial University on Monday, March 14.

“Supporting science and technology is key to Canada’s future economic growth,” said Senator Manning. “Our Government is committed to helping businesses and universities create and maintain research jobs and attract and retain world-leading research talent, which will lead to discoveries that improve our productivity, competitiveness and overall quality of life.”

In Newfoundland and Labrador, the Government of Canada is investing over $14 million in six new research projects through the Atlantic Innovation Fund (AIF). These investments are part of more than $61 million being invested in Atlantic Canada in 26 innovative R&D projects.

“Our Government recognizes that innovation is vital to a dynamic modern economy,” added Minister Ashfield. “The AIF helps move the region’s cutting-edge R&D into the marketplace, boosts business productivity and bottom lines, increases exports, and creates good-paying jobs and overall economic growth. It’s about good science, smart business and a great investment in the future of Atlantic Canada.”

“The Atlantic Innovation Fund has been invaluable in moving research out of the laboratory and into the marketplace,” said Bob Youden, a partner with Savarin Consulting, and First Vice-Chair of the Canadian Chamber of Commerce. “The AIF is helping our businesses, including small and medium enterprises, to become more competitive and productive. By applying innovative ideas and approaches in developing new products, processes and services, businesses in Canada – and Atlantic Canada – will continue to grow their revenues and create skilled, well paying jobs.”

The six recipients selected for AIF funding in Newfoundland and Labrador include: FONEMED, Compusult and four projects through the Memorial University of Newfoundland, including one at the Canadian Centre for Fisheries Innovation (CCFI) at the Fisheries and Marine Institute, two in the Faculty of Engineering and Applied Science, and one in the Faculty of Medicine.

The projects include research and development activities to improve efficiencies and product quality in crab meat processing, the development of virtual environments to train workers in the offshore petroleum and shipping industries, and further research into the genes that cause Sudden Cardiac Death.

All projects are approved following a rigorous and independent merit-review process by the AIF Advisory Board, composed of experts from across Atlantic Canada with knowledge of R&D, and business and economic policy.