Archived — Harper Government Supports Innovation at small- and medium-sized Businesses in Southern Ontario
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Economic Action Plan invests in jobs and growth through research and development
For immediate release
October 12, 2010
Kitchener, Ontario — Small- and medium-sized businesses in southern Ontario will have an opportunity to work with local colleges and universities to bring promising new products to the marketplace faster. The Honourable Gary Goodyear, Minister of State (Federal Economic Development Agency for Southern Ontario), announced the first investments under the Applied Research and Commercialization Initiative would go to Conestoga College, the University of Waterloo and the University of Guelph.
This new program will create more jobs and sustain economic growth by helping small businesses get new ideas into the marketplace faster," said Minister Goodyear. "
Our government is committed to supporting families, businesses and communities of southern Ontario."
Under the $15-million Applied Research and Commercialization Initiative, Conestoga College will receive $747,400, and the University of Waterloo and University of Guelph will each receive $750,000 to partner with small- and medium-sized enterprises in southern Ontario on activities such as applied research, engineering design, technology development, product testing, and certification.
We have a long-established history of partnering with business, industry and institutions in their efforts to innovate, and improve their products and processes through applied research," said Conestoga President John Tibbits. "
This initiative will provide additional opportunities for us to extend our efforts for the benefit of the entire community."
Canadians across the country can count on our government to keep our economy strong and competitive," said Harold Albrecht, Member of Parliament for Kitchener-Conestoga. "
Today's investments are supporting southern Ontario's economic recovery."
The Applied Research and Commercialization Initiative is a direct result of feedback from business leaders, academics and community leaders from across southern Ontario, who suggested FedDev Ontario take a leadership role in addressing the gap between research and commercialization.
More information on the Applied Research and Commercialization Initiative is available online.
FedDev Ontario was created as part of Canada's Economic Action Plan to support businesses and communities in southern Ontario. Now in its second year of operation, the Agency is launching a number of initiatives to create a Southern Ontario Advantage and place the region in a strong position to compete in the global economy. These initiatives are designed to support businesses and other organizations through partnerships and investments in skills and training; innovation; research and development; and increased productivity. To learn more, please visit www.feddevontario.gc.ca or call 1-866-593-5505.
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For more information, contact:
Director of Communications
Office of the Honourable Gary Goodyear
Applied Research and Commercialization Initiative
The Applied Research and Commercialization Initiative is designed to bridge the gap between research and commercialization between Ontario's post-secondary academic institutions and small- and medium-sized enterprises. FedDev Ontario has committed up to $15 million for projects in 2010 under the initiative.
The Applied Research and Commercialization Initiative encourages greater collaboration between post-secondary institutions with research and development expertise and smaller businesses with pre-commercialization needs. The goals of the initiative are to accelerate innovation and improve productivity and competitiveness in companies located in southern Ontario, as well as encourage additional private sector investment.
The initiative supports post-secondary institutions offering services focused on improving innovation, productivity and commercialization to help individual companies move new products or processes to market. These activities include:
- product and process applied research;
- engineering design;
- technology development;
- product testing;
- proof of concept;
- piloting and demonstration; and
- problem solving.
Announced in Canada's Economic Action Plan, FedDev Ontario's mandate is to work with the people, communities and businesses in southern Ontario to create the conditions for economic growth. Created with a five-year mandate and $1-billion budget, the Agency is working to support southern Ontario's ongoing economic resurgence to ensure the region will emerge as a stronger, more diverse world leader.
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