Science partnership to benefit Northern business

NEWS RELEASE

SCIENCE ENTERPRISE ALGOMA

************************ BioEnterprise and Science Enterprise Algoma sign strategic collaboration agreement

BioEnterprise Corporation, a commercialization agent and technology accelerator has entered into a collaboration agreement with Science Enterprise Algoma (seA), a science-based economic development organization located in Sault Ste Marie.

Science Enterprise Algoma is associated with the Northern Ontario Commercialization Initiative which is Northern Ontario's regional innovation network.

The purpose of the agreement is to promote the commercialization of new innovative technologies across the province of Ontario.

"Science Enterprise Algoma is pleased to enter the collaboration agreement with BioEnterprise Corporation," stated Errol Caldwell, the executive director of seA.

"This agreement with BioEnterprise gives Northern Ontario much needed access to small business mentorship skills and also opens the door to investors from across the province to consider bio-based commercial development opportunities from our region," added Caldwell.

"The seA relationship fills a critical gap for BioEnterprise by helping us to address the forestry-based bio products sector," says Dave Smardon, president and CEO of BioEnterprise Corporation.

"There are significant commercialization opportunities in this sector and seA brings a network of resources that otherwise would not have been as readily available to BioEnterprise and our clients," Smardon said.

"It is our expectation that a seA/BioEnterprise collaboration will result in the identification of leading technologies that can be successfully commercialized through our joint service offerings," he added.

About Science Enterprise Algoma

Science Enterprise Algoma was established in January 2005 to take advantage of economic development opportunities that exist in the natural resource and life science industry sectors in Sault Ste Marie, the Algoma Region and Northern Ontario.

About BioEnterprise Corporation

BioEnterprise Corporation is a not-for-profit company founded in 2003 through the financial support of Agriculture and Agri-Food Canada and the Ontario Ministry of Agriculture, Food and Rural Affairs.

BioEnterprise is a commercialization agent and technology accelerator, established to help promote the creation, growth and expansion of businesses in agri-technology, including; the agriculture, agri-food, agri-life sciences and bio-product industries.

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