Business, Tourism, Culture and Rural Development
May 19, 2015
Diversifying the Economy Through Innovation
Province Celebrates Innovation Week
Innovation Week, a series of events dedicated to shining a light on the advances being made in Newfoundland and Labrador's technology sector, kicks-off today in St. John's. Innovation Week 2015 brings together private and public partners to share ideas and build upon the outstanding atmosphere of innovation in Newfoundland and Labrador. The Honourable Darin King, Minister of Business, Tourism, Culture and Rural Development, participated in launching Innovation Week 2015 at Common Ground this morning.
"Innovation has a tremendous influence on our province's social and economic development. By fostering innovation among our young people, small and medium-sized businesses, research institutions, and traditional industries, we are making important investments in the future of Newfoundland and Labrador. Key to this future growth is the success of these ventures in rural Newfoundland and Labrador, where they support and sustain communities. I wish everyone involved in Innovation Week all the best for a successful week of activities and commend them on their efforts to move the technology sector forward." - The Honourable Darin King, Minister of Business, Tourism, Culture and Rural Development
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. In 2014, the Provincial Government invested $20 million in two venture capital funds, Venture Newfoundland and Labrador and Build Ventures, in support of new start-ups and companies in the very early stages of their development.
"The Newfoundland and Labrador Association of Technology Industries (NATI) is proud to be a part of Innovation Week and we thank the Government of Newfoundland and Labrador and ACOA for their support. We have a great line-up of activities and events that will connect participants and provide them with valuable opportunities for collaboration throughout the coming week."
- Ron Taylor, CEO of NATI
The value of the technology sector to Newfoundland and Labrador's economy is $1.6 billion.Under the guidance of the Provincial Innovation Strategy, the Provincial Government has invested over $29 million to support research excellence in the health and life sciences sectors and help foster innovative researchers, health providers and small companies. Additional information on Innovation Week events can be found by visiting www.innovationweek.ca. 
QUICK FACTS
- Innovation Week 2015, 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.
- Newfoundland and Labrador's advanced technology industry includes over 165 companies, employing over 3,990 people. With annual revenue of $1.6 billion.
- Details on Innovation Week 2015 events can be found by visiting www.innovationweek.ca/about-2/.
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Media contacts:
|
Tansy Mundon
Director of Communications Department of Business, Tourism, Culture and Rural Development 709-729-4570, 693-1865 tansymundon@gov.nl.ca |
Libby Carew
Newfoundland and Labrador Association of Technology Industries 709-725-7627 libby@libbycarew.com |
2015 05 19 2:30 p.m.