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INNOVATION PLACE SUPPORTS IDEAS INC.’S ICT PROGRAM

Released on September 12, 2011

Minister responsible for Innovation Place Rob Norris today announced a contribution of $25,000 to support the Information and Communications Technology (ICT) program operated by Saskatoon-based Ideas Inc.

The industry-driven Ideas Inc. ICT program will help to increase market share in the ICT sector by assisting high potential early stage companies commercialize their technologies and succeed in the global marketplace. The program offers a blend of business development opportunities, resources and synergies that enhance entrepreneurial success. In addition to an enterprise-grade managed and secure data centre and office space, the program incorporates incubation, mentoring, coaching and direction on access to investment as well as hands-on business guidance tailored to meet the unique and evolving needs of our early stage ICT clients.

"A strong innovation sector is a key element to a strong and growing economy," Norris said. "Today's strategic investment in the Information and Communications Technology program supports our innovation sector and our overall economy."

The program will be jointly delivered by the partner organizations with support of industry experts in the public and private sectors. This unique partnership is ideally positioned to encourage growth in this sector, taking advantage of the infrastructure available at Ideas Inc. (including the facility, office equipment, administrative structures and current program streams), the sector expertise of the Saskatchewan Advanced Technology Association, the University of Saskatchewan Industry Liaison Office and Computer Science Department, and the networks and research and development expertise of SREDA.

"The generous contribution from Innovation Place will allow us to assist high potential early stage companies commercialize their technologies and grow their companies by offering a blend of business opportunities, resources and synergies that enhance entrepreneurial success," Ideas Inc. Executive Director Phyllis Lodoen said. "The relationship between Ideas Inc. and Innovation Place involves much more than a financial contribution - their advice and expertise has helped to guide the development of this program. We look forward to working with Innovation Place in the future to ensure a continuum of resources for our ICT entrepreneurs as they grow into the global marketplace."

The mission of Innovation Place is to support the growth and success of Saskatchewan's technology sector. It fulfills this mission through the development and operation of technology parks in Saskatoon and Regina and the Forest Centre in Prince Albert. Innovation Place campuses house more than 190 organizations in the science and technology sector.

Ideas Inc. is a business incubator located at River Landing in downtown Saskatoon that offers both a start-up facility and advisory and mentorship expertise to encourage and support start-up companies. Our programs nurture the development of entrepreneurs, helping them thrive during their start-up or growth periods, when they are most vulnerable to market challenges. Ideas Inc provides targeted resources and services that help ensure companies will leave the program financially viable and globally competitive.

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For more information, contact:

Austin Beggs
Innovation Place
Saskatoon
Phone: 306-933-7464
Email: austin@innovationplace.com
Cell: 306-227-1636

Phyllis Lodoen
Ideas Inc.
Saskatoon
Phone: 306-653-2007
Email: phyllis@saskatoonideas.com

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