Innovation is very competitive and has the potential to be very lucrative, emphasized Enterprise Minister Ken Cheveldayoff’s keynote address.

“It is already and economic engine for our province,” he said. “Saskatchewan is already leading the way in a knowledge based economy, through the transfer and commercialization of technology,”

The vision presented by Cheveldayoff is to link technology and innovation with the provinces business sectors to create exports, to create jobs, and create wealth by stimulating the development of a globally competitive and sustainable innovation based economy.

“Opportunities are available now to bring new technology from our labs and laptops to the world businesses and the world’s homes,” he added.

“The goal of the government’s emerging innovation strategy is to continue to build on existing infrastructure and focus on several specific sectors and expand it out of our major urban centres to the regions.”

Saskatchewan must stay competitive as other nations place increased focus the market.

“The emergence of innovation driven economies brings motivation to other governments to step up their game or face being left behind,” said Cheveldayoff. “We need to step up our game, if we fall behind on innovation we will lose our ability to compete in the very markets that we rely upon.”

Cheveldayoff identified a number of critical steps involved in the technology commercialization process.

They included, assessing technical and market feasibility for innovation developed through basic and applied research, protecting intellectual property, raising investment capital, marketing new products, processes and services. An effective system of technology commercialization means all relevant stake holders such as businesses, investors, post-secondaries and research institutions and government must work together to create successful initiatives, he noted.

“Enterprise Saskatchewan was created to do precisely that.”

The government’s role is to set up an appropriate policy environment and provide programs and services that stimulate the innovative activities of the private sector, said Cheveldayoff.

Working on a conference with the SPARC was a way for Kelsay Reimer, CEO of the Southwest Enterprise Region,to learn from what is being done in the agriculture sector.

“When you look at our strategic themes which is really what guides our strategy for the Enterprise Region, Science and Technology is one of them,” said Reimer.

“I am here today to kind of learn from the people that are this workshop how we can support science and technology, how we can capitalize on the research centre and technology and innovations that are currently happening,” she said. “Also, identifying alternate opportunities for people and businesses, in terms of the science and technology, that they need to grow and advance their business,” she added. With the new ER’s, there is a more regional and broad spectrum approach to economic development.

“Today, I strongly heard that partnership, collaboration, cooperation, sharing of information is really key. That is a role our ER can play in terms of advancing science and technology in Southwest Saskatchewan.”

“Our theme here is that the federal and provincial governments need to work together to ensure that research facilities like (SPARC) are able to help us grow the economy,” added Cheveldayoff.