Foresight and FPInnovations partner on an ARCTIC Challenge
Foresight and FPInnovations partner on an ARCTIC Challenge to promote cleantech innovation in the forestry sector
Solution could result in improved land management practices and up to $100m in annual savings
Vancouver, British Columbia – March 2, 2016 — Foresight Cleantech Accelerator Centre and FPInnovations are launching the first-ever “ARCTIC Challenge” in the forestry sector, which will elicit proposals from cleantech innovators on solutions to current environmental challenges in the sector. A potential challenge could focus on remote sensing solutions for conducting forest inventories. Remote sensing would not only reduce costs by up to 75% as well as lower the carbon emissions associated with traditional surveying, but will result in more precise data and enable more efficient operational planning before harvesting. Research has indicated that savings of up to $100 million/year for the B.C. forest sector could be realized.
Foresight’s ARCTIC program catalyzes and accelerates innovation in the resource sector, and leverages funding from the industry partner (in this case, FPInnovations), government and the SMEs that participate in the challenge. Potential solution providers will be invited to respond to the ARCTIC challenge, after which a panel of experts will identify two to five finalists for a funding and development program. Six months later, the expert panel will then select one finalist to receive additional funding for field testing.
“The ARCTIC program provides the essential seed money for innovative solutions to be unearthed,” said Pierre Lapointe, President and CEO of FPInnovations. “Our partnership with Foresight also allows us to tap into a broader network of ideas and innovators, and we expect that the state-of-the-art solutions generated by the program will have application in other sectors.”
“We are thrilled to be partnering with FPInnovations to marry cleantech solutions with real industry challenges,” said Neil Huff, Managing Director of Foresight. “This is a unique opportunity for innovators to receive funding and be mentored by an elite group of executives and leaders while fast tracking the development of their products.”
The ARCTIC Challenge is made possible through the financial support of Western Economic Diversification Canada, Industrial Research Assistance Program (IRAP), and industry partner FPInnovations. Tessellate Inc. and The Delphi Group will serve as consulting partners.
Foresight and FPInnovations – as well as The Honourable Navdeep Singh Bains, Minister of Innovation, Science and Economic Development; MP Jonathan Wilkinson, Parliamentary Secretary to the Minister of Environment and Climate Change; and current industry partner, Canada’s Oil Sands Innovation Alliance (COSIA) – will be discussing the ARCTIC program at the GLOBE 2016 Conference and Innovation Expo on March 2nd at 12.30 pm. More information on this event is here.
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About FORESIGHT and the ARCTIC program
Foresight Clean Technology Accelerator Centre is a BC-based not-for-profit that provides early-stage cleantech innovators with the guidance, training, and funding they need to accelerate their growth and product commercialization activities. To achieve its mandate, Foresight collaborates with the BC provincial government, BDC, the BC Innovation Council (BCIC), universities, and the private sector. Foresight startups have gone on to create millions in investment and 70+ jobs. Foresight also runs the ARCTIC program, which is a series of competitions held in partnership with industry to find cleantech solutions for issues in the resource sector. For more information visit www.foresightcac.com and http://arctic.foresightcac.com/, and follow on Twitter at @ForesightCAC or @ARCTIC_FCAC
FPInnovations is a not-for-profit world leader that specializes in the creation of scientific solutions in support of the Canadian forest sector’s global competitiveness and responds to the priority needs of its industry members and government partners. It is ideally positioned to perform research, innovate, and deliver state-of-the-art solutions for every area of the sector’s value chain, from forest operations to consumer and industrial products. FPInnovations’ staff numbers more than 525. Its R&D laboratories are located in Québec City, Montréal, and Vancouver, and it has technology transfer offices across Canada. For more information about FPInnovations, visit: http://www.fpinnovations.ca/
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