Nov 23rd, 2012
RDC Announces Over $1.6 Million in R&D Funding to 18 Newfoundland and Labrador Companies
Making working conditions safer for offshore employees, developing production efficiencies for the lumber industry and advancing healthcare technology are among the 18 business-led projects receiving more than $1.6 million in funding from the Research & Development Corporation of Newfoundland and Labrador (RDC).
RDC announced investment support that will assist several provincial companies with research and development (R&D) projects in Newfoundland and Labrador's priority sectors such as natural resources, ocean technology, aquaculture, advanced manufacturing and information communications technology.
"Newfoundland and Labrador's support for R&D is assisting these businesses to conduct leading-edge research that's attracting international attention," said the Honourable Keith Hutchings, Minister Responsible for Research & Development Corporation. "These companies are directly contributing to our economy, creating jobs and wealth, and further establishing Newfoundland and Labrador as a leader in R&D and innovation."
The investment is advancing projects led by companies throughout Newfoundland and Labrador, including the Newfoundland Broodstock Company Inc, which is attempting to position itself to be a leading supplier of selected cod genetic material (eggs and larvae) for domestic, national and international markets.
The company, which is based in St. John's, Newfoundland and Labrador, is developing and optimizing best protocols for the shipment of live cod eggs to markets around the world. The research will be conducted at the Joe Brown Aquatic Research Building of Memorial University of Newfoundland and will allow for the evaluation of numerous optimization processes which can lead to increased survival, hatch rates and eventual growth and performance of cod larvae from selective cod broodstock. RDC's investment is $15,000 of a total project cost of $21,060.
"By making strategic investments in R&D projects and capabilities, the Research & Development Corporation is helping businesses pursue new ideas, innovative technologies and opportunities that enhance Newfoundland and Labrador's competitive advantage," said Glenn Janes, CEO of RDC. "Supporting business-led R&D is a priority area for RDC investment."
The funding comes from two RDC programs designed to improve business-led R&D in Newfoundland and Labrador. Both RDC programs provide funding to support companies as they increase their R&D expenditures and develop leading-edge technologies. Detailed project descriptions are available online at www.rdc.org.
The Research & Development Corporation is a provincial Crown corporation responsible for improving Newfoundland and Labrador's R&D performance. RDC works with R&D stakeholders including business, academia and government agencies and departments. In Budget 2012: People and Prosperity - Responsible Investments for a Secure Future, RDC was allocated $19 million to make strategic research and development related investments in people, research opportunities and infrastructure.