Activities underscore importance of innovation to Newfoundland and Labrador’s economy

For Immediate Release
May 27, 2015

ST. JOHN’S, NL – The Newfoundland and Labrador Environmental Industry Association (NEIA) was a partner in Innovation Week 2015 – a series of eighteen events highlighting, promoting, and exploring innovation attended by hundreds of individuals over the course of four days.

“Innovation in Newfoundland and Labrador is essential from both an economic and an environmental perspective,” says Ted Lomond, Executive Director of NEIA. “It is key to the long-term international competitiveness of our firms but it is also necessary if we are to avoid or mitigate the environmental impacts of our business activities.”

During Innovation Week, NEIA and the Aerospace and Defence Industry Association of Newfoundland and Labrador (ADIANL) jointly held a session in collaboration with the Office of Small and Medium Enterprises on the Build in Canada Innovation Program (BCIP).

The BCIP helps companies bridge the pre-commercialization gap, enabling the Federal government to purchase late stage innovative products and services to test them and to address operational challenges.

“This is important for a number of reasons,” says Lomond. “First it allows the firm to earn revenue from the sale. Second, the firm now has a recognizable and credible client to reference when trying to sell their products and services,” which Lomond notes is important for businesses when selling internationally. “Third, firms get detailed feedback on the performance of their product or service before going to market.”

Lomond says NEIA strives to promote and foster innovative practices at all of its key events. “Innovation includes new research and product development but it should be broadly understood as including the novel use of existing technologies, process improvement, imaginative market segmentation, improved workforce training and skills development or any other application of creativity to add value to firms within the province.”

“NEIA works in close partnership with a number of entities that support innovation in the private sector,” says Lomond. “For firms and entrepreneurs interested in acquiring support, it can be daunting trying to determine which programs and agencies can help.” Lomond says that NEIA can expedite and simplify this process, and encourages interested firms to contact NEIA staff.

Innovation Week was jointly organized by a number of organizations led by the Newfoundland and Labrador Association of Technology Industries (NATI). A full list of event partners can be found on the Innovation Week website: www.innovationweek.ca.

NEIA is a not-for-profit association of businesses that promotes the growth and development of the green economy in Newfoundland and Labrador. NEIA has over 190 members. More information can be found at www.neia.org.