June 16, 2011
INO continues to shine and consolidate its leadership
Quebec - Jean-Yves Roy, president and CEO of Institut national d’optique, painted a positive picture of INO’s accomplishments for 2010–2011 at its annual general meeting this morning. “Our results clearly demonstrate that INO plays a key role in developing technologies that are critical to Canadian companies,” he stated.
During the 2010–2011 fiscal year, INO recorded income of $36.1 million that included $8.4 million from R&D contracts and $3.7 million from prototype sales, transfer considerations, and royalties, for a total of $12.1 million in outside earnings. That amount was supplemented by a $23.7 million investment from the Research and Development Program for Industrial Innovation and $300,000 from other sources.
TANGIBLE RESULTS FOR SCIENTIFIC AND TECHNOLOGICAL CAPITAL
This year’s R&D investment resulted in the addition of 12 new patents to INO’s scientific and technological capital, bringing the number of patents held for technological innovations developed by INO scientific and technical staff to 134. In addition, over 122 other patent applications are pending. In 2010–2011, INO helped create a new spinoff company and completed three technology transfers to existing companies.
To date, INO spinoffs have spawned 27 new technology companies currently in operation. INO has also transferred no fewer than 46 technologies developed by its research teams to established businesses. In addition, over the years INO has completed contracts for over 4,500 research and services assignments for innovative companies and organizations.
PROMISING STRATEGIC ALLIANCES AND COOPERATION AGREEMENTS
INO has been front and center on both the national and international research scenes this year, active in strategic alliances and collaborations. It staged and helped organize a number of important events that drew researchers, consultants, innovation management professionals, industry stakeholders, and business leaders to Quebec City.
In addition, INO lent its voice to various Canada-wide discussion forums including the Quebec–Ontario Trade Corridor, the Petroleum Technology Alliance Canada, the Quebec Aerospace and Innovation Consortium, and the pharmaceutical industry’s Quebec Consortium for Drug Discovery. INO also forged partnerships with various organizations to bring new technologies to market. “Our active involvement in these initiatives gives us greater insight into the roles these organizations play, which in turn strengthens our relationships and helps accelerate our technology transfer efforts,” Mr. Roy said.
AN ESSENTIAL LINK
During 2010–2011, INO renewed an agreement with the federal government that will provide $45 million for the next five years through a program supporting Canadian businesses involved in technology transfer. The details of an agreement with the Government of Quebec will become available shortly.
“Government backing remains essential if INO is to maintain its rate of growth and continue its mission to provide solutions that benefit Canada’s companies and economy. These contributions are earmarked for projects supporting identified industry needs, primarily in small to mid-sized companies. We anticipate that this infusion will enable us to spin off six new companies and carry out 15 technology transfers. We also expect it to push INO earnings beyond the $100 million mark,” Mr. Roy added.
ABOUT INO
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 4,500 custom R&D contracts for Quebec and Canadian companies working in a variety of fields.
www.ino.ca
For more information:
Stéphane Dion
Senior Advisor
NATIONAL Public Relations
Tel.: 418-648-1233
Email:
sdion@national.ca