Sustainable Development Technology Canada

Sustainable Development Technology Canada
SpringBoard West Innovations

SpringBoard West Innovations
Russell Mitchell Group

Russell Mitchell Group

September 23, 2010 15:00 ET

Establishing the Cleantech 20 by 2020: Cleantech Sector Key to Future Economic and Social Growth in Prairies

2010 SDTC Cleantech Growth and Go-To-Market Report-Prairie Edition launched today

REGINA, SASKATCHEWAN--(Marketwire - Sept. 23, 2010) - Emerging clean technology companies are on the cusp of providing an economic, social, and environmental boost to Canada's Prairie Provinces. 

Currently, more than 100 clean technology companies are in the process of commercializing new products across Alberta, Saskatchewan, and Manitoba. 

The report demonstrates that the Canadian clean tech industry was very resilient during the recession – between 2007 and 2009, the overall compound annual growth rate was 47% and growth was seen in both the high-growth and more established sectors.

Nearly three quarters of the prairies' clean technology companies were created as a result of a concept developed by an entrepreneur. In contrast, only nine percent of these companies were created as a result of technology developed through academic institutions, be it licensed or by the entrepreneur as an academic.

The Prairie edition of Canada's first-ever comprehensive report on the clean technology industry, 2010 SDTC Cleantech Growth and Go-To-Market Report , launched today, also found that sixty-four percent of the 106 cleantech companies in the prairies are technology product companies, thirty-two percent are technology-enabled service companies, and four percent are large-scale and distributed processing companies.

"This is a very exciting report because it gives emerging cleantech companies, organizations assisting these companies, and governments, the information we need to know to enhance the growth of this important industry," said Susan Gorges, CEO of SpringBoard West Innovations. "The information in the report will be a significant help to us as we create and enhance services to meet the needs of local cleantech entrepreneurs."

The report includes input from 168 Canadian cleantech companies including 28 from the Prairies. It looks at the state of the clean technology industry, with the intent of helping to build a globally competitive cleantech industry in Canada. The report also examines factors impacting investment in commercialization, which plays a key role in company growth. 

"The Canadian cleantech industry has plenty of potential to build globally-competitive companies," said Céline Bak, Partner with the Russell Mitchell Group. "But, being global technology leaders is that much harder when early adopter markets are far from home. A thriving Canadian cleantech industry depends on more than just technological innovation; we will need to build strong domestic markets while at the same time, investing in world-class commercialization for customers at home and abroad."

Based on the survey and research findings, the 2010 SDTC Cleantech Growth and Go-To-Market Report proposes a plan that will enable Canada to have developed twenty cleantech companies that have achieved $100 million in annual revenues by the year 2020. The plan provides a list of recommendations including:

  • Investing in best practices and benchmarks for investment in commercialization as a driver of revenue growth
  • Ensuring emerging cleantech companies are able to access investment capital
  • Taxation changes that encourage investment in Canada's cleantech industry;
  • Policies to stimulate green procurement by large organizations and governments;
  • Deployment of financing vehicles, such as flow-through shares and debt products for technology-based companies, to address the gap between supply and demand for growth capital.
  • Regulation of greenhouse gases, which is one of the most important drivers for clean technology adoption worldwide.

While the report found that cleantech industries continue to require assistance in accessing capital, it also found that the investment required by companies in this industry is less than might be anticipated – 96% of the companies surveyed were found to have capital requirements of between $1million and $30 million.

"As clean technology is being integrated into virtually every sector of Canada's economy, it is essential that we identify the opportunities they create," said Vicky Sharpe, President and CEO of Sustainable Development Technology Canada (SDTC). "This report will be a great tool for the industry and for all levels of government to better understand the current state of the cleantech sector in the Prairies so that the region can take full advantage of these opportunities."

The Report, which is available in 5 editions (National, BC, Prairies, Ontario and Quebec), was produced by the Russell Mitchell Group in partnership with six provinces and five federal departments. It was sponsored by title sponsor SDTC, Industry Sponsor OMERS, presenting sponsor OCETA as well as BC Hydro, Business Development Bank of Canada (BDC), C3E, Cenovus, Export Development Canada (EDC), Encana, Lixar, Ogilvy Renault, RBC and the Stonewood Group.

It is complemented by an on-line database containing 436 companies with a view to making the industry more readily accessible to company managers, investors, procurers and government officials. The database can be found at

Sponsors, partners, and supporters of the Report include: Alberta Innovates – Technology Futures; BC Hydro; BDC; British Columbia Innovation Council; C3E; Cenovus Energy; Climate Change Central; CVCA; EnCana; Enterprise Saskatchewan; Enviro-access; Environment Canada; Export Development Canada; Foreign Affairs and International Trade Canada; Government of Manitoba; Greening Greater Toronto; Industry Canada; LifeSciences British Columbia; Lixar; Natural Resources Canada; OCETA; OCRI; Ogilvy Renault LLP; OMERS; Ontario Ministry of Research and Innovation; Quebec Ministry of Economic Development, Innovation and Export Trade; RBC; SpringBoard West Innovations; Stonewood Group; TMX Group; Western Economic Diversification Canada; and XPV Capital.

About SpringBoard West Innovations

SpringBoard West Innovations Inc. is a non-profit organization established to help innovators transform an idea into a commercial reality and to help organizations access important new innovations. SpringBoard staff works alongside Saskatchewan entrepreneurs to accelerate the transformation of new ideas into marketable products and services. The organization provides services to a range of technology clients within Saskatchewan. 

About SDTC

Sustainable Development Technology Canada (SDTC) is an arm's-length foundation created by the Government of Canada which has received $1.05 billion as part of the Government's commitment to create a healthy environment and a high quality of life for all Canadians. SDTC operates two funds aimed at the development and demonstration of innovative technological solutions. The $550 million SD Tech Fund™ supports projects that address climate change, air quality, clean water, and clean soil. The $500 million NextGen Biofuels Fund™ supports the establishment of first-of-kind large demonstration-scale facilities for the production of next-generation renewable fuels.

SDTC operates as a not-for-profit corporation and has been working with the public and private sector including industry, academia, non-governmental organizations (NGOs), the financial community and all levels of government to achieve this mandate. 

About the Russell Mitchell Group

The Russell Mitchell Group is an advisory firm focused on technology commercialization in the clean technology and ICT sectors. Founded by industry veterans with decades of operating and consulting experience, Russell Mitchell delivers strategic advice and operational support to emerging technology businesses, investment firms, financial institutions and government ministries.

Working with emerging company leaders to identify and capitalize on opportunities for growth, Russell Mitchell has helped some of Canada's most successful technology companies become global market leaders. Bringing insight and expertise gained by working with hundreds of companies across Canada and unparalleled proprietary industry research, Russell Mitchell offers: Business Planning; Corporate and Product Strategy; Technology Licensing; Go-to-Market Strategy; Strategic Planning; Business Risk and Performance Management; International Expansion; Hands-on Operational Support; Due Diligence; and Industry and Market Research. With offices in Toronto and Ottawa, the Russell Mitchell Group serves clients across Canada, as well as abroad.

An executive summary and the full Report can be found at

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