RESEARCH AND BUSINESS ENVISION TECHNOLOGY INNOVATION CENTRE

Released on May 25, 2006

The Governments of Canada and Saskatchewan are investing a shared contribution of $132,000 that supports the University of Regina and Regina Regional Economic Development Authority's vision to create a Technology Innovation Centre.

The objective is to create a centre of excellence to house entrepreneurs, researchers, students and businesses to foster greater collaboration amongst all parties that will take made-in-Saskatchewan ideas and inventions to market. The proposed location for the Centre is the Regina Research Park, located on the same grounds as the university.

Carol Skelton, Minister of National Revenue and Minister of Western Economic Diversification and Saskatchewan Industry and Resources Minister Eric Cline today confirmed their support for further study of the project. The Governments of Canada and Saskatchewan agreed to consider a larger investment from the Canada-Saskatchewan Western Economic Partnership Agreement (WEPA) based on the outcome of this project.

"The Government of Canada supports investments in research and development to diversify Saskatchewan's economy and create long-term prosperity for all Canadians," said Skelton. "We have confidence in the ingenuity and talents of Saskatchewan people."

"Extending our success in research and innovation is part of our new economic action plan to tap into the knowledge-based economy," Cline said. "Supporting the Technology Innovation Centre will create the path for technologies to move from the labs to businesses and homes."

"The Technology Innovation Centre would connect students and faculty with investors and business people, resulting in successful commercial opportunities and jobs," University of Regina President Robert Hawkins said. "This synergy will help keep innovative young people at home in Saskatchewan and enable them to build a knowledge-driven economy."

"Innovation is a key wealth generator and business differentiator. The Innovation Centre will be a catalyst for both business and the research community in growing Saskatchewan," RREDA President and CEO Larry Hiles said.

The next step in the development of the project will focus on the development of the governance and staffing models and the role of the private sector. The Centre will maximize the Saskatchewan advantage at the University of Regina as a centre of excellence in the area of energy, environment and informatics.

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For More Information, Contact:

Joanne Mysak Western Economic Diversification Canada Saskatoon Phone: (306)975-5942	Bob Ellis Industry and Resources Regina Phone: (306)787-1691
Todd MacKay Western Economic Diversification Canada Regina Phone: (306)780-8236	Jim Duggleby University of Regina Regina Phone: (306)585-5439 Email: james.duggleby@uregina.ca Cell: (306)536-4312