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Innovation, Trade and Rural Development March 26, 2008 MI International Receives Provincial Government Funding A division of Canada�s most comprehensive oceans technology institute has received funding from the Provincial Government. Marine Institute International (MI International) has received $152,660 from the Innovation Enhancement Program to enhance its ability to gain international work. "This specialized unit of the Fisheries and Marine Institute of Memorial University has implemented over 120 projects in more than 50 countries in Europe, Asia, Africa, the Middle East, and the Americas," said the Honourable Trevor Taylor, Minister of Innovation, Trade and Rural Development. "This funding advances MI International�s ability to bid on international projects � it supports product development and enables local companies to partner on international projects."
MI International
works on projects related to the fishery, aquaculture, enhancement of
marine infrastructure, and resource management. To date, it has worked
on international contracts through the Asian Development Bank, the
African Development Bank and the World Bank. International financial
institutions such as these generate $300 million a year for Canadian
companies, although that is only two per cent of a $130 billion market.
"This market represents a vast untapped potential for
Newfoundland and Labrador businesses and institutions," said Bill
Chislett, Director of MI International. "The majority of successful Canadian organizations
form partnerships to obtain information or submit bids, and so do we;
but we need to be able to identify potential partners in the business
community quickly to bid on international contracts successfully." Funding will be used to develop a program to recruit
provincial, national and international experts, develop an information
management system for rapid response to funding opportunities, and
improve international relationships. The MI International is also tasked with recruiting
international students. As part of these efforts, it offers two formal
programs in two Chinese universities. "The Marine Institute has quite a number of Chinese
students studying our Bachelor of Technology program in China and
another 44 are studying here at MI-MUN," said Mr. Chislett. More than 200 Marine Institute faculty and staff have
worked overseas on projects. Revenues from these international projects
exceed $1 million annually. MI International has placed 130 young
graduates in six-month international work placements over the past 10
years. It currently has 10 graduates working in six countries in
Southeast Asia, Latin America, and Africa. The Innovation Enhancement Program provides
non-repayable contributions up to 50 per cent of eligible project costs
to a maximum of $250,000 per project. The program is available to public
sector institutions, not-for-profit groups, community organizations and
industry associations that are involved in activities that enhance
innovation in the province.
-30- Media contacts:
2008 03 26 11:15 a.m.
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