By Jasmeet Duggal
There has been a cluster of announcements (GSK & MRI, Sanofi Pasteur & Ontario) regarding government investment in Ontario’s innovation agenda. The province is investing aggressively to ensure the growth of its economy and innovation is a key component in making this happen. Over the course of about 8 years, Ontario will provide some $3 billion in support to Ontario-based companies.
There is yet another example of a company being awarded for putting innovation at the core of their business. Mississauga-based aircraft engine
manufacturer Pratt & Whitney Canada (P&WC) is investing $139.2 million with Ontario providing a $13.9 million grant to maintain Ontario’s leadership in Aerospace. P&WC will use the funding to diversify its product pipeline by focusing on product innovation and development. The company’s R&D initiatives will also pursue research into new and improved manufacturing processes and environmental technologies, such as more fuel-efficient and electric engines. P&WC is showing what it takes to be at the forefront of innovation, while making every effort to reduce the impact of air travel on the environment as well as reducing waste in the manufacturing process.
Ontario is taking hold of all areas that are required to translate innovation into economic growth and prosperity by partnering with and supporting businesses like P&WC, as well as recent provincial tax changes to make business investment more appealing and supporting scientists with universities and publicly funded organizations that are helping companies develop more efficient products.
In addition to providing direct funding for businesses, the Ministry of Research & Innovation (MRI) has developed the Ontario Network of Excellence (ONE) – a collaborative network of organizations across Ontario, designed to help advance innovation of commercialization of technology. As part of the ONE Network, RIC Centre is the prescribed center to deliver ONE programs and services locally in Peel Region (Mississauga, Brampton, Caledon).
Jasmeet Duggal is graduate student pursuing her final year in the Master of Biotechnology program at the University of Toronto Mississauga. She is currently the Communications Officer for the RIC Centre, a role which has allowed her to engage in the startup culture and entrepreneurship. In her future endeavors, Jasmeet hopes to pursue a career in business development in the life sciences.