In c9065 transmitted at 13:30e today, please note that a change has been made in the 6th paragraph. Instead of ''$1 million'', we should have read ''$500,000''. Corrected copy follows:
New RDC Program Positions Newfoundland and Labrador as Arctic R&D Leader
ST. JOHN'S, NL, May 18, 2012 /CNW/ - The Research & Development Corporation of Newfoundland and Labrador (RDC) is launching a new $5 million, three-year program called ArcticTECH that will focus on strengthening Arctic-related research and development (R&D) capacity in the province. ArcticTECH is designed to draw upon Newfoundland and Labrador's competitive advantages - unique geographic position, existing R&D expertise and support infrastructure and a proven track record of development and operations in harsh environments.
"Newfoundland and Labrador is a recognized leader when it comes to advancing innovative technologies required for cold environments," said the Honourable Keith Hutchings, Minister of Innovation, Business and Rural Development and Minister Responsible for RDC. "Our research and development capacity, skilled labour force and innovative companies are globally competitive."
ArcticTECH will focus on investing in academic and business-led R&D that supports technology development for Arctic and other cold environments. Recognizing the importance of highly-qualified personnel in this area, RDC also plans to invest in the development of the next generation of Arctic researchers.
"Reaching resources in deep oceans and working in a number of challenging ice-related climates highlights our province's unique technological and human resource capabilities," said Glenn Janes, Chief Executive Officer of RDC. "Our geography, business-friendly economy and supportive academic community position Newfoundland and Labrador as the best place in the world for oil and gas industries to develop technology for resource exploration and development in cold climates."
Target areas for investment in academic-led projects will include technology-driven R&D awards that encourage start-ups, collaborative R&D with technology companies and the development of new Arctic research tools and equipment with commercialization potential. Funding in these areas will be administered through a competitive call for proposals to be issued in June 2012.
Up to $500,000 is available for business-led R&D projects that relate to a wide range of research topics including concept engineering, model testing, and prototype development through to field trials and demonstration projects. Business-led proposals will be accepted at any time.
Detailed information about eligibility, submission requirements, and the level of R&D funding available can be found at www.researchnl.com.
RDC is a provincial Crown corporation responsible for improving Newfoundland and Labrador's R&D performance. RDC works with R&D stakeholders including business, academia and government agencies and departments. In Budget 2012: People and Prosperity - Responsible Investments for a Secure Future, RDC was allocated $19 million to make strategic research and development related investments in people, strategic opportunities and infrastructure.
For further information:
Manager, Marketing & Communications
Research & Development Corporation
Director of Communications
Department of Innovation, Business and Rural Development