The mandate of the Innovation & Prosperity Office is to work with the service & supply sector to help commercialize their mining innovations. Established in 2011 at CEMI and with support from the Greater Sudbury Development Corporation (GSDC), the work of the Innovation & Prosperity Office (IPO) is to help service & supply SMEs close gaps that can limit the adoption of viable mining innovations.
The service & supply community plays a critical role in the development of new products, technologies, services and processes which greatly benefit the mining industry. It allows mining and mineral exploration companies to focus on what they are best at—mining operations. These innovations help contribute to the industry’s productivity gains and enhance corporate profitability and growth.
Innovation Gap: Commercialization
Technical development alone, does not guarantee successful acceptance of innovation. CEMI, in working with mining service & supply SMEs, understood that technical and product validation is not enough for the successful operational integration of an innovation. A gap still exists—commercialization.
SMEs, given their size and focus are better able to address technical development of the innovation rather than the tasks required to address the commercialization gap. The role of the IPO is to bolster and support the mining services & supply SMEs’ capacity for commercialization and speed to market of their innovations. Working directly with service & supply SMEs, the IPO helps focus attention by addressing the following:
IPO Philosophy and Services:
The Innovation & Prosperity Office is focused on developing long-term collaborative relationships with service & supply SMEs. Services are based on a needs continuum, determined collectively by the service & supply SME and IPO.
Achieving successful operational integration of an innovation creates a ripple effect of benefits. For the service & supply SME, it is growth in terms revenues, size, with access to resources and the ability to compete within a wider market. For mining companies and the industry as a whole, productivity gains, increased growth and profitability as well as the continued development of highly qualified personnel to sustain the future needs of the industry. For government institutions, it is stronger economic development, including jobs and global leadership. Ultimately for the IPO and CEMI, it is the continuation of a more vibrant industry eager to support on-going innovations and new finding new ways for mine better, faster and safer.
Please contact Eric Maag, Director of the Innovation and Prosperity Office, at 705-673-6568 or email at email@example.com.