Precarn AND Reid Eddison Launch Intelligent Systems Commercialization Program

Friday, December 07, 2007

FOR IMMEDIATE RELEASE

Program to support the acceleration of university research, spin-off and start-up companies

Ottawa, Ontario - December 7, 2007 Ottawa-based Precarn Incorporated, today announced a joint venture with Ottawa's Reid Eddison to accelerate the commercialization of Canadian research in the critical and fast-growing intelligent systems sector.

The initiative brings together Canada's leading intelligent systems research organization with one of Canada's most experienced technology advisory firms. The team will focus on two major activities: assisting Canada's world class university-based intelligent systems centres to exploit commercial value from their research; and accelerating the growth of the many spin-off and start-up companies that have derived from Precarn research programs.

For over 20 years Precarn has been promoting the intelligent systems sector and supporting collaborative industry-academic research. Precarn has managed over 200 projects, $225 million in industry-based research involving over 300 companies and $60 million in university-based research involving more than 3,000 researchers. The collaborative efforts of Precarn and its network have created a leadership position for Canada in the field. Intelligent systems have enormous commercial potential and are a critical component of Canada's next generation information and communications products and industrial competitiveness. Voice recognition systems in automobiles, face detection technology in digital cameras, intelligent sensors monitoring water quality, sensors monitoring structures from pipelines to bridges, animation technology in Hollywood and our gaming industry, the robots in our auto parts manufacturing plants - all depend on embedded intelligent systems.

Precarn is investing in the future of Canada! These innovative and bright young companies are crucial to that future, said Paul Johnston, President and CEO of Precarn, We are delighted to partner with Reid Eddison to help provide them with the advice, guidance and management tools they need to grow into world-class organizations. In addition, Precarn's commercialization program will be guided by its Strategic Investment Council comprised of executives from the banking, venture capital, angel and business incubator sectors.

Peter Eddison, a founding partner of Reid Eddison, says "My experience in the Canadian high tech sector has shown that Canada is indeed a powerful generator of innovation. What is often missing is the early stage support, direction, and mentoring that can mean the difference between success and obscurity. Precarn has been successful in nurturing innovations through the R&D stage, and we are very pleased to be part of a program to take them through the next stage of commercialization."

For more information or to participate in the program, contact Grant Thomas, at thomas@precarn.ca or (613) 727-9507 x 230.

About Precarn

Precarn is a not-for-profit corporation that has been designing and managing intelligent systems research programs in Canada for 20 years. Precarn has managed over 220 projects, $225 million in collaborative industry-based research, $60 million in collaborative university-based research, over 300 participating companies, more than 3,000 collaborating researchers and 40 start-up companies. Delivering innovation and value in Canada - the Precarn Network.

About Reid Eddison

Over the past ten years, Reid Eddison has developed a proven track record for helping Canadian technology companies accelerate and manage growth. Using a proprietary planning and business monitoring methodology, Reid Eddison helps its clients formulate a clear strategic vision and turn this vision into meaningful action. Headquartered in Ottawa, Reid Eddison has worked with the senior management teams of over 60 companies from coast to coast, ranging in size from emerging and mid-stage companies to established public corporations.

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Media Information:
Gary Gudbranson
Precarn Incorporated
Tel: (613) 727-9576
Email: gudbranson@precarn.ca

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