Automotive moldmaking initiative planned (March 30, 2005)
The Initiatives for Automotive Innovation (IAI), an organization formed by Canadian companies in the machine, tool,...
The Initiatives for Automotive Innovation (IAI), an organization formed by Canadian companies in the machine, tool, die and mold sector (MTDM), has announced a cooperative arrangement with the Ministry of Economic Development and Trade (MEDT) and Materials and Manufacturing Ontario. The arrangement, pending final approval, calls for each of the three parties to contribute one-third of the cash funding required to formally launch the IAI and complete an initial pilot project to develop a new generation of molding technology called Smart Mould.
According to IAI chair, Ed Bernard, moldmaker participation is crucial to getting the initiative off the ground.
"The IAI can only be formed and the pilot project can only be completed if the member companies of our industry associations collaborate by becoming members of the IAI and committing enough funds to meet the one-third cash contribution," Bernard said in a letter distributed to members of the Canadian Association of Moldmakers. "If we can demonstrate industry financial support, the project application can then be formally submitted to MMO and MEDT for funding review and approval."
Bernard estimates that a matching fund of approximately $200,000 will be required from businesses in the MTDM sector in order to launch the IAI and the initial Smart Mould project. The annual IAI membership fee has been set at $800 plus GST. For CAMM members submitting before April 29, 2005 the fee is reduced to $700. For more information contact the Canadian Association of Moldmakers at email@example.com.