Innovation, Trade and Rural Development
December 12, 2006
The following statement was issued by the Honourable Trevor Taylor,
Minister of Innovation, Trade and Rural Development. It was also read in
the House of Assembly:
Innovation Programs Benefit Local Company,
I would like to inform my colleagues of a
local company and an educational institution currently benefiting from
two new programs born from government�s Innovation Strategy.
The College of the North Atlantic is using $50,000 from the Innovation
Enhancement Program to investigate establishing a Centre for Northern
Peninsula Diversification at its St. Anthony campus. The college will
conduct a feasibility study to address issues surrounding the
establishment of such a centre. The centre is being proposed to focus on
opportunities in the biotechnology field, with emphasis on the greater
use of existing natural resources in the local area.
MedicLINK Systems Limited, based in St. John�s, specializes in
developing innovative software solutions for eye care professionals.
MedicLINK identifies and analyzes the steps required to deliver quality
patient care. It has optimized those steps into its workflow management
system, called Eyesistant. The Department of Innovation, Trade and Rural
Development approved a loan of almost $58,000 from its Commercialization
Fund, and provided over $12,000 from the Business and Market Development
Program, to help the company launch its product in Canada and the United
States. As a result, the company has recently entered into a partnership
with two prominent US medical professionals to create a tool that could
revolutionize the way a typical clinic operates. It is expected the tool
will help clinics become more efficient and automated, leading to
improved patient care and business growth. The company is also in
discussions with two investment groups interested in helping them break
into other medical industries. MedicLINK is a new company that has made
impressive gains in a short time. That is, no doubt, one of the reasons
why they were given the New Start-up Award by the St. John's Board of
Trade last week.
Our Innovation Strategy programs were created to support government�s
vision of transforming our province into one of the country�s most
innovative. These funds assist companies and institutions to embrace
innovation and to realize their goals. I ask my colleagues to join me in
congratulating the College of the North Atlantic and MedicLINK, and in
wishing them every success for the future.
2006 12 12