Turning Smart Ideas into Successful Businesses, Jobs

Helping Nova Scotians turn smart ideas into successful businesses that create good jobs is the focus of the province's first Innovation Summit.

Business, industry, academic and young leaders from around the world are in Halifax April 16 and 17. The focus is on identifying ways to build on and support innovation in the province, especially in agriculture, forestry of the future, oceans, and among our youth.

"Nova Scotians come up with smart ideas every day," said Premier Darrell Dexter. "What we don't have is a smart system that connects those people with the mentoring, research, and investment they need to turn those ideas into new businesses or build the businesses we already have. This means greater economic growth and more jobs for Nova Scotians."

Participating businesses from across the province include Windhorse Woods, Louisburg Seafoods, Performance Genomics and Irving.

Nova Scotia company CelluFuel is using technology to create a new form of diesel fuel from forestry resources.

"Our forestry resources have sustained rural economies for decades and have the ability to continue to do so if we can find innovative ways to create new products, processes and technologies to meet the changing market needs," said CelluFuel president Chris Hooper. "We're very encouraged to see Nova Scotia taking action and encouraging more innovation.

"The Innovation Summit provides an excellent opportunity for leaders to come together to establish where we are and determine a better path forward to support more innovation."

Guest speakers will talk about how places like Brazil, Israel, the United States and other parts of Canada search out and support innovation in ways that have broad and lasting benefits for their citizens.

For instance, the Ambassador of Brazil will discuss how some oil and gas royalties in Brazil are now directed to scholarships for their finest students so they can get world class educations.

"The pace of change in the global economy is accelerating. While there is a great deal of uncertainly, two things are clear, natural resources will be in high demand and the benefits will go to those who can adapt their business models to a changing world," said Avrim Lazar, Former CEO, Forest Products Association of Canada and a guest speaker at the event. "Having both natural resources and the capacity for deep innovation will be a powerful advantage."

The province is already supporting new and emerging businesses and encouraging innovation in the summit's key areas of focus.

Some examples include:

• the Perennia Innovation Centre connects inventors and innovators to work with business development professionals to create new business opportunities in agriculture and the agri-foods industry
• the Renova ScotiaBioenergy Centre at the former Bowater mill site will attract private investment and drive innovation to support forestry of the future
• the province provided funding for new simulators and training aids, as well as safety equipment at Nova Scotia Community College's Nautical Institute and School of Fisheries to strengthen marine programming
• the province is working with IBM Canada, the Nova Scotia Community College and five universities to prepare young people for the growing analytics industry.

"This summit is the first of several steps the province is taking to build on innovation, a key part of our jobsHere plan," said Premier Dexter. "These efforts will ensure Nova Scotians can access the support they need to get started, create good jobs, grow, and become more competitive."

For more information about the summit, and for an agenda, visit http://novascotia.ca/jobshere/innovationsummit/.