Released on December 19, 2002
The province has launched a new tool to assist entrepreneurs in thesuccessful commercialization of innovative products and technologies. It
provides access to specialists in the emerging field of competitive
intelligence.
The Saskatchewan Market Assessment of Research and Technology (SMART)
Program gives small and medium sized businesses access to industry
specialists. These specialists will find and analyze information on the
marketplace and emerging technologies in order to help companies make
strategic business decisions.
The province and the National Research Council (NRC) will each provide
$75,000 per year over the next two years toward the pilot program.
"Science and technology based companies are creating a lot of new jobs in
our economy," Industry and Resources Minister Eldon Lautermilch said. "To
succeed, they need to understand the environment in which they operate. It
is the only way they can identify opportunities and be positioned to move
ahead."
The SMART Program complements services provided by the province and the
NRC's Industry Research Assistance Program (IRAP). The emerging field of
competitive intelligence deals with gathering and analyzing a wide range of
publicly held information to gain a thorough understanding of the
marketplace. Access to such professionals will help entrepreneurs refine
their research and development, marketing and commercialization efforts.
"Government can play a key role in the growth of innovative firms whose
competitive advantage is their cutting-edge technology," Lautermilch
said. "This program helps maximize the impact of provincial and federal
research funds. When our research and development projects succeed, the
number of knowledge-based jobs for people in Saskatchewan increases."
Eligible projects can receive up to 75 per cent of their costs to a maximum
of $15,000. The Prairie Centre for Business Intelligence, established by
IRAP as an advisory service for Saskatchewan and Manitoba, will administer
the SMART Program until the 2003 - 2004 fiscal year end, after which it
will be evaluated.
"We expect the SMART Program to result in a higher percentage of
commercialized products derived from research and development activites
being undertaken by Saskatchewan firms," William Smith, Regional Director
for IRAP-Prairies said.
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For more information, contact:
Bob Ellis Wayne Craig
Industry & Resources Prairie Centre for Business Intelligence
Regina Saskatoon
Phone: (306) 787-8277 Phone: (306) 975-6100