Innovation Minister Keith Hutchings announces the business who will benefit from the province’s Technology Utilization Program in Bay Bulls Wednesday. — Photo by Josh Pennell/The Telegram
Innovation Minister Keith Hutchings announced the most recent businesses to benefit from the provincial government’s technology utilization program Wednesday.
The announcement was made at C&W Industrial Fabrication and Marine Equipment Ltd. in Bay Bulls, one of the businesses to benefit from this year’s investments by the government.
“We all know that when our business community succeeds certainly we as a province succeed, as well,” said Hutchings.
In 2006 the provincial government launched the strategy, aimed at stimulating innovation across resource- and non-resource-based sectors.
Hutchings said under the strategy, the government had implemented an initiative specifically designed to assist small and medium enterprises to harness the power of innovation in working companies.
“We are pleased to provide funding to local businesses to support innovation which helps to improve efficiencies and competitiveness,” he said.
“These investments, totalling $480,100, support the application of technology-based solutions which allow growth, and benefit businesses and the communities they operate in.”
Hutchings said C&W Industrial Fabrication and Marine Equipment Ltd. embodies the spirit of entrepreneurship, illustrating the drive it takes to survive in business, while also embracing new ways to succeed.
The company will receive $75,000.
“This investment will allow our business to purchase a new cutting machine and water-injection system, which will upgrade our technology and substantially improve productivity, which is essential to improving our operations,” said Terry Crane, C&W Industrial president. “We must be innovative to remain competitive and grow our business, and the new equipment will allow us to do just that.”
Since 2011, $964,600 has been invested in 21 initiatives throughout the province through the technology utilization program.
According to a news release, the businesses that received support this year under the program are:
‰ C & W Industrial Fabrication and Marine Equipment Ltd., Bay Bulls — $75,000, for the purchase of Combirex DX CNC gantry cutting machine and water injection system
‰ Eastern Analytical Ltd., Springdale — $75,000 for the purchase of a fire assay furnace, button de-slagger, Mettler Toledo microbalance, dust collection system and heating and cooling unit
‰ A & P Manufacturing Ltd., Milton — $75,000 for the purchase of L-M “I-Cut” package cross cut system and L-M double end bump rollcase
‰ Design Manufacturing Inc., Mount Pearl — $75,000 for the purchase of Contura G2
‰ Best Boy Studios Inc., Mount Pearl — $68,254 for the acquisition of a motion capture system
‰ NuFeeds Inc., Cox’s Cove — $64,000 for the purchase of vertical plate freezers
‰ Advanced Thermal Imaging Inc., Conception Bay South — $15,270 for the purchase of GPR concrete scanner
‰ Funn Food Factory Inc., St. John’s — $14,625 for the acquisition of Jet Decorator direct printing system
‰ The Dark Tickle Company,
St. Lunaire-Griquet — $9,527 for the acquisition of a bottle capper and vacuum packing machine
‰ SubC Control Ltd., Clarenville — $8,450 for the purchase of quality control equipment and rapid prototyping capability.