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Commercialization Services Initiative Moves Technologies to Market

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Commercialization Services Initiative Moves Technologies to Market

Charlottetown, PE, November 30, 2012
- Companies in the Prince Edward Island Bioscience sector have some new tools available to them to accelerate the time line for getting new technologies and new products to the marketplace.  

Through the new Commercialization Services Initiative (CSI), companies can obtain access to expertise in specific aspects of the commercialization process, where that expertise does not reside within the company. This may include areas such as Intellectual Property Management, Market Assessment, Regulatory Strategy, Finance, Business Strategy, and Technology Assessment. The Initiative is supported by a collaborative arrangement among the Atlantic Canada Opportunities Agency, the National Research Council of Canada Industrial Research Assistance Program, and Innovation PEI.

Rory Francis, Executive Director of the BioAlliance, says that Canada’s underperformance in successfully commercializing new products and technologies had been a matter of great concern for many years.

“Even great technologies can fail to achieve market success if the commercialization plan isn’t well-developed and well-executed. This initiative will help our small and medium-sized companies access external know-how that will improve their results,” said Francis. “The BioAlliance and its government partners foresee an increase in company revenues and jobs, and reduced risk to the public and private investments that are often backing early stage companies.”

Dr. Debbie Plouffe who directs the Centre for Aquaculture Technologies Canada in Fortune Bridge, PEI, says her company is in the early stages of establishing a contract research service for fish health and aquaculture companies around the world. “The CSI has allowed us to carry out a global market assessment to identify clients and competitors, and really determine our competitive advantage working from here in PEI,” said Plouffe.

The CSI is expected to support 30 to 40 projects over the next year. Companies identify the projects and the qualified expertise necessary to carry out the work and can contact the PEI BioAlliance for more information through our website at https://peibioalliance.com/commercialize-services-initiative.phpor by phone at 902-367-4400, and also by email to jennifer@peibioalliance.com .
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About the Prince Edward Island BioAlliance
The PEI BioAlliance is dedicated to building the Bioscience economy of Prince Edward Island. PEI’s Bioscience Cluster is made up of leaders from business, research, government and academia working together as an ambitious and dynamic team. Currently, the Prince Edward Island Bioscience Industry accounts for more than  $100 million in sales and employs over 1000 people. The PEI BioAlliance represents 37 companies and eight research institutions.

About the Atlantic Canada Opportunities Agency

The Atlantic Canada Opportunities Agency works to create opportunities for economic growth in Atlantic Canada by helping businesses become more competitive, innovative and productive, by working with diverse communities to develop and diversify local economies.

About Innovation PEI

Innovation PEI is focused on advancing economic development in Prince Edward Island by investing in people, innovation, and infrastructure. We are targeting key sectors that have displayed a high potential for economic growth within the Province. We strive to assist the rapid development of these sectors and others to accelerate our Island economy through innovative new products and services.


For more information, contact:

Rose FitzPatrick, Manager, Marketing & Communications
Prince Edward Island BioAlliance
rose@peibioalliance.com
902- 367-4403

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