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REF NO.: 325

SUBJECT: Innovative use of community resources brings Memorial University’s Genesis Centre national award
DATE: June 23, 2006

Memorial University’s Genesis Centre has been nationally recognized for the inventive ways in which it helps fledgling technology-based ventures get a healthy start in business. The Genesis Centre was awarded the Information Technology (IT) Strategic Human Resource Leadership Award at the 21st national CATAAlliance Innovation Awards on Tuesday, June 20 in Ottawa. The award, sponsored by the Software Human Resource Council, is given to an IT company or organization which enhanced its performance and reputation by leveraging human capital. 
            Every client at the Genesis Centre is paired with a world-class mentor, and an advisory board of three to five experienced business people. Genesis utilizes the business expertise of expatriate Newfoundlanders who serve as mentors, as well as members of the local business community for the advisory boards. Consultants, guest lecturers and Genesis staff provide additional support and advice to clients. A private-sector selection board is also used to determine which applicants get accepted into the business incubator.
            This approach has proven its value in increasing the likelihood, rate and degree of success of emerging companies, and in extending the human resource capacity of the Centre. Dr. Chris Loomis, vice-president (research) of Memorial, David King, president and CEO of GENESIS Group, and Keelin O’Leary, manager, Genesis Centre were on hand in Ottawa to accept the award. 
“Memorial’s Genesis Centre continues to demonstrate leadership and unquestionable value to developing technology companies in Newfoundland and Labrador,” said Dr. Loomis. “This award recognizes the ability of the Centre to align human resources with corporate, strategic goals, enhancing our reputation and success in the commercialization of research.”
Mr. King added, “At Genesis we have discovered that success lies not in ‘breakthrough technologies’ but rather in ‘outstanding people’.
For more than two decades, the CATAAlliance Innovation & Leadership Awards have been the most prestigious annual awards conferred on individuals and corporations by Canada's advanced technology community. They are presented in recognition of exceptional contributions made to the creation of science and technology-based industrial strength in Canada.

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