The National Research Council Canadian Photonics Fabrication Centre (NRC-CPFC), a body that helps its clients to develop and commercialise innovative photonics technologies, has forecast $500m revenue for its client firms over the next five years. The news comes on the back of an impact analysis report, released at a recent photonics industry event hosted by the Ottawa Photonics Cluster.
Key findings from the Impact Analysis of the Canadian Photonics Fabrication Centre, prepared for the National Research Council Canada by KMPG, indicate that NRC-CPFC is providing a highly sought-after and important service to its client firms translating into revenues of about $500m. Since 2002, the Canadian government has invested $52m into NRC-CPFC.
'In order for start-ups to grow, they need patient, long-term investment,' said Ottawa Mayor Larry O'Brien. 'It is quite clear in the report that NRC-CPFC is not only delivering valuable assistance to these companies, who are in need of prototyping services and commercialisation expertise, but is also providing Canada excellent value for money.'
Canada hosts approximately 400 photonics companies, employing 20,000 people and generating close to $4.5bn annually. The photonics sector is comprised primarily of small and medium enterprises (SMEs) and start-ups with revenues in the $1m-10m range.
'Since 2002, CPFC has been instrumental in helping clients demonstrate their technology and raise capital - about $87m to date. In fact, OneChip Photonics, an Ottawa-based company and CPFC client, holds Ottawa’s only disclosed VC deal of 2009,' said Michael Lebby, President and CEO, Optoelectronics Industry Development Association (OIDA). 'We look forward to developing more successful and long-term partnerships with CPFC, industry clients and start-ups across the country in order to explore new technological possibilities and conduct advanced research and development.'