Programs Help Researchers And Promising Companies Succeed, Create Jobs
Ontario Premier and Minister of Research and Innovation Dalton McGuinty today announced new investments to help researchers and companies develop cutting-edge technologies that will fuel the economy and create jobs for Ontario families.
“Bringing exciting new discoveries to market faster creates high-value jobs, attracts investment and ultimately builds a better quality of life for all Ontario families,” said Premier McGuinty. “That’s why we’re supporting the innovative spirit of Ontario researchers and entrepreneurs by investing in their ideas and our economic future.”
To help get new discoveries to market, the government has launched a four-year, $46-million Market Readiness Program. It will provide companies with financial support, training and management expertise. The program is part of the McGuinty government’s $160-million Ideas to Market strategy.
“Ontario entrepreneurs are among the best and brightest in the world,” said
Small Business and Entrepreneurship Minister Harinder Takhar. “We want to give them the tools they need to turn their innovative ideas into products and services that can change people’s lives.”
The Ontario Centres of Excellence (OCE) and the MaRS Discovery District will deliver the program across Ontario starting in the fall.
“For almost 20 years, the OCE has helped move great ideas from ‘mind to market’ through support of research, industrial collaboration and the commercialization of cutting-edge science and technology,” said Mark Romoff, President and CEO of the OCE. “The Market Readiness Program will help us expand the work we’re doing and lead to even more made-in-Ontario innovation success stories.”
“Ontario is making a very clear statement about our commitment to transforming great ideas into thriving global businesses,” said Ilse Treurnicht, CEO of the MaRS Discovery District. “This investment is focused on moving innovative technologies closer to market, and connecting entrepreneurs to the resources that will enable their success.”
Premier McGuinty today also announced funding for 16 projects that will link companies, colleges, universities and research institutions to develop cutting-edge technologies.
The funding will be provided through the government’s $31.4-million Ontario Research and Commercialization Program (ORCP). The ORCP is the first program of its kind in Canada and will help Ontario become a global leader in transferring research and development to the private sector.
Investing in innovative research and development is the latest example of how the McGuinty government is working on the side of businesses and families to strengthen Ontario’s economy.
Other initiatives include:
- Encouraging strong job creation, with almost 290,000 net new jobs since taking office
- Helping to generate almost $7 billion in automotive investments that retain and create thousands of high-value jobs
- Launching a $500-million Advanced Manufacturing Investment Strategy to help manufacturers develop cutting-edge technologies
- Investing $6.2 billion over five years in our universities, colleges and training programs.
“Ontario has what it takes to be a global leader in research and innovation,” said Premier McGuinty. “We will continue to work with researchers and entrepreneurs to ensure Ontario is the place to invest and innovate for years to come.”
Ministry pages:
Research and Innovation
Small Business and Entrepreneurship
See also:
Backgrounder: Ontario Research Commercialization Program (ORCP)
Backgrounder: Ideas To Market Strategy And The Market Readiness Program