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For Release
August 31, 2006
BUSINESS ACCELERATOR RECEIVES $1.19 MILLION
WINNIPEG, Manitoba – Manitoba’s growing life sciences cluster may soon be able to get its ideas to market faster with a $1.19 million investment from Western Economic Diversification Canada (WD). Biomedical Commercialization Canada, a life sciences business accelerator, will use the funds to provide innovators and entrepreneurs with the business tools they need to become successful.
Pictured (left to right): Steven Fletcher MP., Joe Wery, BCC President and
CEO, John Bulman, BCC Board Chai
Steven Fletcher, Member of Parliament for Charleswood-St. James-Assiniboia, made the announcement today on behalf of the Honourable Carol Skelton, Minister of National Revenue and Minister of Western Economic Diversification.
“Manitoba’s life sciences cluster presents economic opportunities for the province and promises medical innovation for all Canadians,” said Fletcher. “Canada’s new government made a commitment to creating an environment that supports jobs and growth, and we are honouring that commitment to Canadians.”
Innovators and entrepreneurs looking to move new technologies from the laboratory to the marketplace need specialized assets and infrastructure in areas such as business operations, management, data security and quality control. Biomedical Commercialization Canada (BCC) will provide these business applications in a secure and accessible environment that will also allow clients to collaborate with partner companies here in Manitoba and around the world.
“By creating a shared business environment, we can reduce cost and provide clients with the programs they will need to be successful,” said Joe Wery, BCC President and CEO. “We will not only provide the business tools but we will also show them how to use these tools to establish best business practices that will increase their investment opportunity.”
The life sciences sector in Manitoba consists of companies and research institutions that have expertise in cardiovascular and respiratory diseases, infections diseases, diagnostics, medical devices, and pharmaceuticals. Examples include the National Research Council Institute for Bio-diagnostics, the Canada Science Centre for Human and Animal Health, the St. Boniface General Hospital Research Centre and the University of Manitoba.
Biomedical Commercialization Canada Inc. is a not-for-profit organization founded by the National Research Council of Canada and the Province of Manitoba. Led by a private sector board of directors, BCC designs, implements and manages a suite of technology commercialization services and programs for Canadian biomedical technology and related firms.
Western Economic Diversification Canada (WD) is a department of the Government of Canada that works in partnership with the provinces, industry associations and communities to stimulate and encourage diversification of the western economy, as well as to represent the interests of the West in national decision-making.
NOTE TO EDITORS: Backgrounder attached)
For additional information, contact:
|
Jacquie Sippola |
Marshall Ring |
WD Toll-Free Number:
1 888 338-WEST (9378) |
Backgrounder
Investment and business partnering decisions are made on the value of a business opportunity, not just the functionality of a technology. The importance of building a business on sound business processes cannot be understated. A recent document identified that five years after a company is formed, 85% of the value of a company resides in the business processes while 15% of the value is in the technology or product.
Providing start-up companies with the business tools that enable good business processes will therefore enable start-up companies to grow and measure the highest value element of their business.
BCC is pleased, to now have in place for client use, a complete business infrastructure. The BCC business structure has five key areas of functionality:
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Business Operations – Internet access, Printing, Office and Infrastructure Applications, Citrix / Terminal Services (remote and secure access)
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Business Communications – Telephony, Conferencing (audio and web), E-Mail, Fax, Web Site Hosting
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Business Management – Enterprise Resource Planning, Financials, Business Analytics, Customer Relationship Management, Project Management, Service Management, Manufacturing, Distribution and Sales
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Business Infrastructure – Network, Servers, Notebook PCs, Storage, UPS
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Business Security – Anti-virus/Anti-spam, Firewall, Data back-up, Secure Access, Managed Services Monitoring
Prior to BCC providing these business tools, new companies would use tools that could not measure operational performance efficiently or would spend a significant amount of their limited start-up monies for the systems that could benchmark their performance. Now however, these key assets that drive the value of a company and improve the probability of investment and survival are accessible.
For more information about BCC, its programs and services, please contact:
Marshall Ring
Vice-President, Strategic Business Development
Biomedical Commercialization
Canada
(
204) 272-2403