UST-Innovation Place "Innovation Award" Announced

Posted February 01, 2002


FOR IMMEDIATE RELEASE - February 1, 2002 2002-02-01-OTHER

UST-Innovation Place "Innovation Award" Announced

University of Saskatchewan Technologies Inc. (UST), the U of S
commercialization arm, has teamed up with Innovation Place research park to
offer a new award for technological innovation.

The $2,500 annual "Award of Innovation" will honor U of S researchers who
have brought new and commercially viable technology to UST for development
into marketable products.

The award will be presented at the "Celebrate Success! Gala" on May 14,
2002, an event hosted by the Saskatoon and District Chamber of Commerce and
Women Entrepreneurs of Saskatchewan Inc.

UST President Branko Peterman hopes the award will encourage University
researchers to recognize the value of commercialization.

"The future success of the Saskatchewan economy depends on innovation,"
Peterman said. "We have to recognize the efforts of our scientists and
encourage them to get involved in the innovation process."

Peterman noted that the U of S carries out about half of all the research in
the province and it is the province's "prime source of innovations."

"We are delighted to be a co-sponsor," said Innovation Place marketing
manager Austin Beggs,
noting it is the park's desire "to see more economic activity generated that
will lead to the continued expansion of Saskatchewan's economy."

He said Innovation Place directly sees the results of many of the
University's and UST's activities, as university-originated organizations
move into Innovation Place.

More than 30 companies in Saskatchewan can trace their history to the U of S
and many are located at Innovation Place (www.innovationplace.com), one of
the most successful research parks in North America. The Cobalt 60 source
for cancer radiation therapy, alkali resistant concrete, and canola are
among U of S discoveries that have had global impact.

U of S employees and students are eligible to apply for the award. Selection
criteria include the novelty of the innovation and its potential commercial
impact. The selection committee will include a representative from each of
Innovation Place, UST and the U of S.

In addition to the $2,500, the winner will be recognized with a photo on the
"Award of Innovation" wall in Kirk Hall and a personal trophy.

For more information, visit the UST website: www.usask.ca/ust

-30-


For further information, contact:

Branko Peterman
UST President and CEO
University of Saskatchewan
(306) 966-7335
Peterman@sask.usask.ca

Kathryn Warden
Research Communications Officer
Office of the Vice-President Research
University of Saskatchewan
(306) 966-2506
kathryn.warden@usask.ca
www.usask.ca/research