Saskatoon, SK – A new BioAccess Commercialization Centre has been opened by the National Research Council in Saskatoon. The centre was created by NRC to assist firms in Western Canada’s nutraceutical, functional food and natural health products industries bring products to market. NRC-delivered services include research expertise, business development support programs, expert business knowledge, resources and advice.
The centre was established in response to research showing that as few as 5% of Canadian small and medium sized enterprises (SMEs) survive their first five years of business. In the nutraceutical, functional food and natural health products industries, commercialization hurdles are especially complicated. The low success rate can often be attributed to a lack of support and/or expertise in areas such as marketing, management, technology assessment and the regulatory approval process.