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Canadian Government Supports Nanotech Innovation
Jun. 30, 2016 09:25PM PST
Nanotech Investing
The Canadian federal government is a strong supporter of nanotechnology investment.
When it comes to technology investment, it’s easy to think of venture capitalists and private investors as being the primary drivers behind the market. However, in some regions, the government is also a major supporter of the tech industry.
This is the case in Canada, where the National Research Council (NRC) of Canada Industrial Research Assistance Program constitutes a significant source of assistance for emerging nanotechnology companies. Read on to learn how this funding body, in addition to other government programs, work to bolster nanotech innovation on a federal level.
NRC Industrial Research Assistance Program
The National Research Council-Industrial Research Assistance Program (NRC-IRAP) is one of Canada’s foremost innovation assistance programs for small and medium-sized enterprises. It is a key component of the NRC, which is widely considered to be one of the world’s best government innovation assistant programs. Essentially, the mission of the NRC-IRAP is to accelerate growth is small- to mid-sized companies by offering them a comprehensive suite of innovation services and funding. In doing so, there is the hope that this will stimulate wealth-creation in the country at large.
Government support for nanotechnology
Nano One Materials Corp. (TSXV:NNO) is one company which has benefited from the NRC-IRAP. The company, formerly known as Dunderave Resources Inc., is a Vancouver-based company engaged in developing processing technology for the production of high performance battery materials (the sort used in EVs, energy storage and consumer electronics). It has developed patent pending technology for the production of nanostructured materials and is developing a portfolio of technologies for applications in the energy storage, speciality ceramics, pharmaceutical and aerospace markets, among others.
On June 30, CEO Dan Blondal announced that the company would be receiving support from NRC-IRAP to help fund its project to develop High Voltage Cobalt Free Cathode Materials. For the pre-revenue company, the government’s $222,857 investment is a significant boon.
Blondal stated in a press release that “NRC-IRAP has been a valuable contributor on past projects, and we are honoured to have their renewed support in developing this important cathode material. In fact, NRC-IRAP’s past support led to further innovations in Nano One’s processing technology and a patent was filed earlier this month to protect this novel discovery.”
Investor takeaway
All told, the Canadian government’s support of Nano One Materials Corp., and the nanotechnology industry more generally, bodes well for growing nanotech companies and prospective investors. With the government’s support behind them, it’s easy to see the future value of this emerging market and developing innovations.
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Securities Disclosure: I, Morag McGreevey, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Morag McGreevey, hold no direct investment interest in any company mentioned in this article.