Innovation challenge rewards best ideas

By Quentin Casey – Telegraph Journal | link to original article

The companies vary greatly in their focus – from the detection and treatment of cancer to the farming of sturgeon for caviar.

One company is working to make LEDs brighter, while another is trying to turn methane from cow manure into useful energy. And then there’s a company working on the next generation of dishwashing detergent.

All differ in their field of research, but all five have been selected as finalists in the first R3 Innovation Challenge, organized by the New Brunswick Innovation Foundation (NBIF).

The NBIF will officially announce the five finalists today. Then, on March 21, two of those companies will be declared the winners of the competition, which is seeking out the province’s “most innovative and commercially viable ideas”.

Both of the winning companies will receive $50,000 in research and development funding from the NBIF as well as $5,000 in services from both Cox & Palmer and Deloitte.

The five companies vying for the two top spots are:

Soricimed Biopharma, Moncton

Soricimed has developed a drug that shows promise in fighting ovarian, breast and prostate cancers. Later this year, Soricimed will push its drug into the first phase of human clinical trials, designed to prove the drug is safe for use in humans. Further trials will be needed to prove the drug’s effectiveness.

The company is also developing a diagnostic blood test to detect ovarian, breast and prostate cancers. That diagnostic tool will also heading to clinical trials later this year.

Winning the R3 competition, says CEO Paul Gunn, would help the company focus on new projects in the “development pipeline”.

Lamda Guard Canada Inc., Saint John and Fredericton

Lamda Guard is trying to develop a thin film that will make LEDs five to 10 times brighter. The company has proved the concept in theory, says CEO George Palikaras. The goal now is to take that concept and develop it into a product. “We are already talking to LED companies, and they love the idea,” Palikaras said on Tuesday. “Whether we win or not, we’re taking this forward.”

Gagnon Ornamentals Works Ltd., Grand Falls

Gagnon Ornamentals is developing equipment to collect methane from cow manure on dairy farms. Many farms house large lagoons full of manure, which is used to fertilize nearby fields. The manure gives off significant quantities of methane, which Gagnon Ornamentals is working to capture with special equipment. The methane would then be used to power electrical generators or provide heat, says vice president Gilles Desjardins.

Breviro Caviar Inc., Pennfield

Breviro Caviar is proposing an aquaculture system to be built in Charlo that will accelerate the maturation of shortnose sturgeon. Caviar from the shortnose sturgeon is one of the rarest and most sought-after delicacies in the world, but the sexual maturation of the fish can take up to four years. Breviro aims to reduce that timeline.

Dizolve Group Corporation, Moncton

Dizolve is developing a new generation of dish detergent: a detergent sheet for use in automatic dishwashers.

The NBIF’s R3 Gala will be held at the Fredericton Convention Centre. The event will include a keynote presentation by author Hal Gregersen, author of The Innovator’s DNA – Mastering The Five Skills Of The Disruptive Innovators. The NBIF received 25 submissions for the R3 Innovation Challenge.