$27M for research commercialization program in Ontario

Toronto, ON – The Ontario government says it will provide $27 million to increase the province’s innovation capacity under a new Ontario Research Commercialization Program (ORCP), Economic Development and Trade Minister Joseph Cordiano has announced.

“We’re delivering on our commitment to strengthen Ontario’s world-class research capacity and to move promising research from the lab to the marketplace.” he said. “This will grow the economy and improve the health and quality of life for all Ontarians.”

Funding will be provided over four years for leading-edge projects at publicly funded or not-for-profit Ontario institutions and organizations. The ORCP will support innovative projects that:

– Work with private sector expertise and resources
– Build links between institutions and the private sector
– Support initiatives that help bridge the gap between research discovery and market-ready invention
– Contribute to an entrepreneurial culture.

“The government has committed to investing $1.8 billion in research and commercialization over the next four years,” he said. “The ORCP is a key component of this, and will contribute to building an innovation economy which will ensure our future prosperity.”