Conestoga College Institute of Technology and Advanced Learning applauds measures included in the new federal budget that will increase the capacity of colleges and polytechnics to provide applied research solutions for small and medium-sized enterprises.
"The budget’s emphasis on innovation through applied research is most welcome,” said Conestoga president John Tibbits. “Helping our local industries remain competitive in the global economy provides substantial benefits to the region as well as opportunities for Conestoga's faculty and students to apply their skills and knowledge to develop solutions for real-world challenges."
Budget 2011 includes three strategic announcements that will increase the applied research capacity at Canada’s colleges and polytechnics:
- Supporting 30 new Industrial Research Chairs at polytechnics and colleges with $3 million this year and $5 million annually on a permanent basis starting in 2012/13
- Providing $80 million in new funding to the Industrial Research Assistance Program to help SMEs accelerate their adoption of key information and communications technologies through collaborative projects with polytechnics and colleges
- Allocating $12 million over five years to support joint college-university commercialization projects.
“We look forward to the opportunities provided by these new measures to enhance our contributions to innovation and productivity as we develop the skilled workers Canadian industry needs,” Tibbits continued.
Conestoga provides applied research and business development services to local business, industry and service organizations to support innovation, improve existing products and processes, enhance student research participation and strengthen our community.
The College is a member of Polytechnics Canada, a national alliance of leading research-intensive, publicly funded colleges and institutes of technology dedicated to helping colleges and industry create high quality jobs for the future. For more information, visit: www.polytechnicscanada.ca.
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