Business, Tourism, Culture and Rural Development
May 9, 2016

Diversifying the Economy Through Innovation

Highlighting Innovation: SubC Builds on Success as a Global Leader

Innovation Week, a series of events dedicated the advances being made in Newfoundland and Labrador's technology sector, kicked-off today in St. John's. The Honorable Christopher Mitchelmore, Minister of Business, Tourism, Culture and Rural Development, participated in launching Innovation Week this morning at Common Ground. During Innovation Week, the department will shine a spotlight on some of the innovative companies that are experiencing success and providing economic benefit to the province and its people.

"It is difficult to recall a time in our province's history when economic diversification and innovation were as important as they are today. Innovation has a tremendous influence on our province's social and economic development. For example, look at the success and growth at SubC Imaging, located in Clarenville. For six years now they have been creating equipment that operates in remote and harsh environments while still delivering high quality, state-of-the-art underwater images at considerable depths.
- The Honourable Christopher Mitchelmore, Minister of Business, Tourism, Culture and Rural Development

Launched in 2010, SubC Imaging has marketed its product to potential clients and partners globally. The company provides reliable solutions for video, image and lighting requirements in the offshore and subsea markets. In 2014, SubC graduated from Memorial University's Genesis Centre and won the Outstanding Incubator Graduate Award from the United States-based National Business Incubation Association. While in 2015, the company was nominated for EY Entrepreneur of the Year.For more information about SubC Imaging, visit www.subcimaging.com .

"Entrepreneurial companies such as SubC Imaging are putting the province on the global map, attracting clients and collaborators around the world, and delivering the message that Newfoundland and Labrador is a leader in the development of ocean technology services. By fostering innovation among our young people, small and medium-sized businesses, research institutions and traditional industries, we are supporting the future of Newfoundland and Labrador."
- Minister Mitchelmore

Innovation Week focuses on furthering growth and developing new opportunities in sectors that include information technology, ocean technology, oil and gas and the green economy.

QUICK FACTS

• Innovation Week 2016, a series of events dedicated to Newfoundland and Labrador's technology sector, started today in St. Johns.
• Innovation Week brings together private and public partners to share ideas and build upon Newfoundland and Labrador's exceptional atmosphere of innovation.
• With annual revenue of $1.6 billion, Newfoundland and Labrador's advanced technology industry includes over 165 companies and employs over 3,990 people.
• Details on Innovation Week 2015 events can be found by visiting www.innovationweek.ca/schedule/

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Media contact:

Tansy Mundon Director of Communications Department of Business, Tourism, Culture and Rural Development 709-729-4570, 693-1865 tansymundon@gov.nl.ca

2016 05 09                              4:15 p.m.