QUEBEC CITY, June 14, 2012 /CNW Telbec/ - Jean-Yves Roy, President and
CEO of National Optics Institute (INO), painted a positive portrait of
the company's accomplishments over the last twelve months at the Annual
General Meeting this morning. "Our results, particularly the
considerable increase in outside revenues, clearly demonstrate the
value of our activities and INO's key role in developing technologies
for Canadian businesses," explained Mr. Roy.
During the 2011-2012 fiscal year, INO posted overall earnings of $37.6
million, including a remarkable jump in outside earnings of 41% over
last year. Outside revenues hit a record high of $17.1 million over the
past fiscal year.
TANGIBLE RESULTS FOR SCIENTIFIC AND TECHNOLOGICAL CAPITAL
This year's R&D investments resulted in the addition of 11 new patents
to INO's scientific and technological roster, bringing the total number
of patents held for technological innovations developed by INO's
scientific and technical teams to 147. Another 103 patents are pending.
In 2011-2012, INO created a new spinoff company and completed four
technology transfers to existing companies as well as a managerial
INO spinoffs generated 28 new technology companies, all of which are
still active. They have created over 600 highly skilled jobs, and
exports represent 80% of their sales. INO has also transferred no fewer
than 50 technologies developed by its research teams to established
businesses. In addition, it has completed more than 5,000 research and
service assignments for innovation firms and organizations over the
"Thanks to our deep expertise, versatile platforms, and keen
understanding of our clients' needs, we at INO help all sorts of
Canadian companies boost market share in a global economy where agility
in innovation are key growth drivers," added Mr. Roy.
ATTUNED TO INDUSTRY NEEDS
Over the last year, INO participated in a number of Quebec consortiums
such as the Cleantech Cluster, Ecotech Québec; the Consortium for
Research and Innovation in Aerospace; the Québec Consortium for Drug
Discovery; and the Drone Center of Excellence. It also organized a
major symposium in cooperation with the Quebec Photonic Network on the
technology issues and challenges of harnessing Quebec's natural
resources under the Plan Nord.
In 2011-2012, INO worked with investor groups to help startups gain
easier access to capital. A special effort was made to interact with
three seed funds recently created in Quebec, as well as with Anges
At Alberta's invitation, INO took part in an innovation and marketing
symposium organized jointly with the Jalisco State Science and
Technology Council in Mexico.
INO also sent speakers to the Fourth International Symposium on
Photonics and Optoelectronics in China and the International
Semiconductor Tradeshow in Tokyo.
INO was invited by South Africa to attend a Photonics Symposium it
The development of INO's expertise and the resulting spinoffs for
companies are made possible by Federal and Provincial government
funding. "Government backing remains essential if our organization is
to maintain its rate of growth and continue its mission to provide
solutions that benefit Canadian businesses and our economy. The money
is invested directly in projects supporting identified industry needs,
primarily in SMEs," said Mr. Roy.
A leading technology designer and developer, INO is the largest center
for industrial optics and photonics expertise in Canada. The leader in
its field internationally, INO has so far completed over 5,000 custom
R&D contracts for Quebec and Canadian companies working in a variety of
SOURCE INO (NATIONAL OPTICS INSTITUTE)
For further information:
NATIONAL Public Relations