Tag Archives: Strategic Aerospace and Defence Initiative

Canadian government as a venture capitalist and its Integran investment

Canada’s Minister of Industry, Christian Paradis, has just announced a $339,386 investment in Integran Technologies Inc. The company is based in Mississauga [sometimes identified as Toronto], Ontario and I mentioned it most recently in my March 26, 2012 posting in regard to a business deal with Pratt & Whitney and Integran’s electroplating process for the aerospace industry. (Integran is also mentioned in my Sept. 4, 2008 posting about $4.5M in research funds from the Canadian government for coatings in the US-led Joint Strike Fighter Program [presumably military airplanes].)

Here’s a little more about the investment, which is to be repaid, (from the April 16, 2012 news item on Nanowerk),

The Honourable Christian Paradis, Minister of Industry, today announced a repayable [emphasis mine] government investment of $399,386 in a project by Integran Technologies Inc. The Mississauga-based company is developing innovative nano-structured aerospace and defence products that will offer superior performance while meeting the highest environmental standards. The contribution will be made through the Strategic Aerospace and Defence Initiative.

Integran’s project will result in the creation of next-generation metal alloys that are more robust and free from toxic beryllium copper. This will help expand the company’s product line and its customer base. As part of the initiative, Integran will collaborate with graduate-level engineering students from the University of Toronto.

“Since being founded over 12 years ago, Integran has been committed to developing environmentally benign alternatives to toxic materials and processes,” said Gino Palumbo, Integran’s President and CEO. “Integran is confident that through this program, our core patented nanotechnology can be optimized and demonstrated to be a viable, cost-effective alternative to the alloying of copper with toxic beryllium-a strengthening process that remains in widespread use for various industrial, aerospace and defence applications.”

The latest funds appear to be part of a new approach to science and research funding by the Canadian government.  From the news item,

Economic Action Plan 2012 commits $1.1 billion over five years to directly support business innovation and makes available $500 million for venture capital to realign the government’s approach to promoting innovation and create better opportunities for businesses. This includes helping high-growth firms access risk capital, increasing direct support for business innovation, supporting private and public research collaboration, supporting innovation through procurement, refocusing National Research Council Canada, and improving the Scientific Research and Experimental Development tax incentive program.

The mention of venture capital, supporting innovation through procurement, refocusing the National Research Council, etc. were all recommendations made in the Jenkins report (Innovation Canada: A Call to Action aka, Report on Review of Federal Support to R&D). I last posted about the report on Oct. 21, 2011 at about the time it was released.