Completed

Way Forward Commitment:

In the 2016 Speech from the Throne, our Government committed to resetting the provincial innovation agenda by developing a long-term approach to expand the pool and capacity of the province’s economic wealth generators, innovation and growth-focused businesses. Through the new Business Innovation Agenda, our Government is aiming to create the conditions that enable the province’s innovation-driven businesses to grow and diversify. Our Government will ensure that information technology is recognized as an enabling platform across all sectors. The Business Innovation Agenda is one component of an enhanced economic development approach that will include:

• Refocused trade activity, such as trade missions which are more sector focused and firm centric;
• The development of a Regional Trade Network; and,
• Working with local firms to identify opportunities and challenges arising from new trade agreements.

A Regional Trade Network will be established by May 31, 2017 and target sectors will be identified in summer 2017. Also in summer 2017, our Government will release the Business Innovation Agenda.

What We’ve Accomplished:

• The Business Innovation Agenda was released on November 8, 2017.
• The goal of the Agenda is to expand the pool and capacity of innovation and growth-focused businesses in Newfoundland and Labrador.
• The Agenda has four focus areas: Product Development and Commercialization; Productivity; Growth and Internationalization; and, Workforce Skills and Talent.
• The plan sets targets to accelerate the business growth of eleven firms; and, collaborate with the Cabinet Committee on Jobs and technology businesses to scale 20 technology firms annually.
• The Innovation and Business Investment Corporation continues to work with the Provincial Government and its partners to implement the Business Innovation Agenda and identify priorities to advance innovation in NL.
• A Regional Trade Network was established on October 17, 2017 and meets quarterly to share information, identify gaps and opportunities to support firms and to help improve communication and collaboration among all resource and support providers.
• Target industry sectors identified comprise the netowkr’s constituted membership that includes representation from the following industry/sectors:
  • ICT
  • Ocean Technology
  • Environmental Industries
  • Aerospace & Defense
  • Oil & Gas
  • Mining
  • Fisheries and Seafood
  • Manufacturing
• In addition to the above target industry sectors, advancing Women in International Business is a priority for the group.

News Releases

Provincial Government Establishes Regional Trade Network

Provincial Government Launches Business Innovation Agenda