Innovation The NWT Economy and Innovation Kevin Todd Director IEA

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Innovation The NWT Economy and Innovation Kevin Todd Director IEA. Innovation – what is it?. The creation of better or more effective products, processes, services, technologies, or ideas. - PowerPoint PPT Presentation

Transcript of Innovation The NWT Economy and Innovation Kevin Todd Director IEA

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Innovation

The NWT Economy and Innovation

Kevin ToddDirector IEA

1Innovation what is it?

The creation of better or more effective products, processes, services, technologies, or ideas. Innovation differs from invention in that innovation refers to the use of a new idea or method, whereas invention refers more directly to the creation of the idea or product.Canada has a poor track record on innovation

Generous R&D incentivesHigh investment in advanced educationBusiness R&D investment has been falling since 2001

Innovation in the North

Forced to be innovative - Challenging operating environmentHigh costTransportation, construction and communications needsApplying existing technology in innovative ways

Efficient Innovative MinesEnergy costs are the major expense for our diamond mines.

Diamond mine power plants are extraordinarily efficient. Most internal combustion engines extract 35 per cent of a fuels energy, their plants delivers 40 per cent as electrical energy, and another 40 per cent is extracted as heat.

As a result, the NWT has one of the lowest rates of CO2 emissions per $million in GDP in Canada even with a cold climate.

Kt. CO2 per $million GDP5Mining and Water

All new mines have world standard water treatment.

For production, their plants process as much water as large cities in southern Canada - up to 30,000 cubic metres per day the same as the city of North Bay Ontario.

Water returning river and lake systems is clean, and surpasses the drinking water quality of most Canadian cities.

Sewage at Diavik is treated through a tertiary treatment plant, the first of its kind in the Northwest Territories. The treated effluent returning to the lake is clean, and almost meets drinking water standards.

Innovation in HR - Mine Training

The Mine Training Society is a unique partnership of mining companies, communities, Aboriginal government and the GNWT. Placed more than 800 northerners.

Has state-of-art simulators - jumbo drill, a scoop tram & roof bolter.

Comments from innovative NWT Companies

Never enough financing to bring a product to marketChallenge is manpower, risk and energy to get a product to marketRestricted access to funding Existing federal programs such as Scientific Research and Experimental Development (SRED) were too complicated to apply for.Need more direct funding programs such as Industrial Research Assistance Program (IRAP)

Federal Budget Changes

Shift $500 million per year from SRED ($3.6 billion budget) to IRAPShould fund company research and incentivesMore changes forthcoming?

ITIs Role

Support for Entrepreneurs and Economic Development Policy (SEED)Northwest Territories Manufactured Products PolicyDeveloped a series of sample profiles, around 3 innovators - Diavik Diamond mines, Energy Wall Systems and Discovery Air. Role for Chamber in expanding the list? Recognize and promote business innovators.Profiles can be posted on the Chamber's website, or InvestNWT.Annual recognition?

Example Innovators

Discovery Airs Work on Air ShipsExample InnovatorsDiaviks Wind Farm

Example InnovatorsEnergy Walls new IS3000 energy cladding wall system

SummaryInnovative solutions in the NWT have developed largely in response to our geographic, climatic and economic challenges; ice road construction, energy wall building systems and so on. Numerous studies have noted the NWT is well positioned to contribute technological innovation related to cold weather technology, transportation, arctic construction and advances in environmental remediation.A lot of innovation in training and staff development is originating with the NWT mining industry.Work is continuing in other areas, energy testing, alternate energy, mineral processing, construction techniques, ice road construction, and so on.

Innovative solutions in the NWT have developed largely in response to our geographic, climatic and economic challenges; Conibear traps, ice road construction, energy wall building systems and so on. Numerous studies have noted the NWT is well positioned to offer Canada and the world lessons in technological innovation related to cold weather technology, transportation, arctic construction and advances in environmental remediation.A lot of innovation in training and staff development is originating with the NWT mining industry.Work is continuing in other areas, energy testing, alternate energy, mineral processing, construction techniques, ice road construction, and so on.14The End

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