The Government of Newfoundland and Labrador announced last week that it is replacing its Research &Development Corporation with a new body called InnovateNL, according to a report from Entrevestor.
The government said the creation of InnovateNL is the next step in its plan to foster greater innovation and accelerate business growth in the province. InnovateNL, which falls under the province’s department of tourism, culture, and innovation, will act as a single body that delivers innovation programs and services to its clients.
As part of InnovateNL, Newfoundland and Labrador’s government said that all of the Research & Development Corporation’s programs and services will be integrated into the department of tourism, culture, and innovation, and no changes will be made to already funded programs.
“InnovateNL will accelerate business growth in Newfoundland and Labrador.”
According to Entrevestor, InnovateNL will aim to streamline client access to government supports and extend innovation programming throughout the province. Additionally, the body will leverage research and innovation resources and help local companies bring their products to the global market.
“InnovateNL will accelerate business growth in Newfoundland and Labrador,” said Christopher Mitchelmore, minister of tourism, culture, industry, and innovation in Newfoundland and Labrador. “It will result in improved service delivery, better alignment of programs and services, and increased collaboration and greater opportunity to leverage funding from federal and industry partners. I look forward to working with the new InnovateNL board, as well as our industry partners to support all regions of Newfoundland and Labrador.”
InnovateNL will be overseen by an 11-person board called the NL Innovation Council. The board, which will be chaired by Killick Capital founder Mark Dobbin, will focus on providing a comprehensive, holistic approach to supporting innovation in Newfoundland and Labrador.
“Companies and individuals require a wide variety of programs and services to develop and commercialize their products and services in our modern economy,” said Dobbin. “Enhanced coordination and tailoring these supports to match specific needs will make them more effective. This, along with the benefits of input from a diverse council, will significantly help provincial innovators broaden and diversify our economy.”
InnovateNL is being created after Newfoundland and Labrador’s provincial government began an engagement process for its new business innovation agenda in November 2016. Participants in the process said the province needed a single body that could provide one-stop coordinated advice, integrated service delivery, and better access to sources of capital for innovators and companies.
InnovateNL is expected to be fully in place by mid-Fall of 2017.
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