Agriculture Technology Driving Force in Establishing LOI Between SRCTec and Istuary Idea Labs
Access to China's Agriculture Technology Industry Offers BC Companies Opportunity to Drive Further Growth in Canada and China
Vancouver, Canada, April 19, 2017 (Newswire.com) - Istuary Idea Labs and the Sumas Regional Consortium for High Tech (SRCTec) recently signed a Letter of Intent to provide BC tech companies with education, resources and a network to tap into China, most notably in one of the largest agricultural markets in the world. Vancouver-based Istuary Idea Labs views Fraser Valley as a prime testing ground for agri-tech, a $12 billion industry that could not have survived without technology but one that can certainly expand further in China. Businesses that are beginning the commercialization phase and have some of the most promising technology in agri-tech make business sense for SRCTec and Istuary Idea Labs to collaborate.
Michael Liu, VP of Istuary Idea Labs, stated, “We are very excited to work with SRCTec in assisting Fraser Valley technology companies with the ability to access and commercialize in global markets. By connecting promising technologies to our resources in China, we create new opportunities and synergies that wouldn’t have been available to start-up companies. Thus partnering with SRCTec fits perfectly into our vision of cultivating innovation and launching businesses into expanding markets.”
The collaboration is a significant boost to Istuary Idea Labs as SRCTec already facilitates innovation and entrepreneurial ventures in the Fraser Valley in the form of partnerships throughout the province. With agri-tech as a new source of innovation, Istuary Idea Labs offers strategic access to one of the biggest agricultural markets in the world and in great demand of agricultural technology: China.
Raymond Szabada, Founder and Chairman of the Board of SRCTec, says "Istuary is a knowledgeable partner that can provide valuable advice and direct introductions to Fraser Valley tech companies to take advantage of resources and markets in China. Access to manufacturing plants in China will allow local startups to build and test prototypes with teams that are highly experienced in moving towards commercialization. There are vast opportunities to create business partnerships to share knowledge of market needs in Asia and North America, as well as joint ventures to share and enhance technologies. We’re very excited about the benefits awaiting Tech companies in our Programs through this partnership with Istuary”
About Istuary Innovation Group
Istuary Innovation Group is a Canadian technology company with a mission to connect local technology to global markets through globalization for sustainable innovation. Istuary focuses on identifying and filling technology gaps in foreign markets by leveraging Canada’s world class design and engineering talent. Operating in 3 countries, 30 cities, and employing over 1500 employees worldwide, go to www.istuary.com for more information.
SRCTec is a non-profit agency based in Mission, dedicated to facilitating innovation and entrepreneurial ventures in the Fraser Valley. It has formed numerous partnerships throughout the province to connect local tech companies with funding, advice, training, and other business and marketing services.
Shirley Wong Walker
Manager, External Relations
Istuary Innovation Group
Phone: 604 299-0388
Source: Istuary Innovation Group