Toronto, Ontario —Ten businesses will work with Centennial College to develop new technologies, help conduct research and bring ideas to market, thanks to an investment from the Federal Economic Development Agency for Southern Ontario. Today, the Honourable Maxime Bernier, Minister of State (Small Business and Tourism), celebrated the collaborations between Centennial College and small- and medium-sized enterprises.
“Our government is committed to helping small- and medium-sized businesses across southern Ontario grow into global leaders,” said Minister Bernier. “This initiative has connected 10 businesses with research teams at Centennial College to develop innovative ideas and bring new products to the marketplace.”
Last year, under FedDev Ontario’s Applied Research and Commercialization (ARC) Initiative, Centennial College was approved for a contribution of up to $525,000 to partner with small- and medium-sized enterprises on activities such as applied research, engineering design, technology development, product testing, and certification. The support provided will create new economic opportunities and help to grow Canada’s businesses to be more innovative and competitive.
"Centennial College welcomes the opportunity to work closely with the federal government on programs that keep Canada's economy moving forward,” said Trish Dryden, Associate Vice-President of Research and Corporate Planning, Centennial College. “The rapidly growing role for colleges in industry-driven innovation stimulates employment, productivity, and an improved ability for our small and medium enterprises to compete globally, while providing students with the innovation and entrepreneurial skills they need."
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 has launched 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.
For more information on the Applied Research and Commercialization Initiative and Centennial College partners, please refer to the backgrounder.
For more information, contact:
Gary Toft
Director of Communications
Office of the Honourable Gary Goodyear
613-943-7599
Media Relations
FedDev Ontario
519-571-6879
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