SPEECH 

Remarks by
Dalton McGuinty, Premier Of Ontario and Minister of Research and Innovation,
announcing $46 Million Market Readiness Program
at Algonquin College in Ottawa

July 21, 2006 -- CHECK AGAINST DELIVERY

We're all proud to be here today because we're strong supporters of Ottawa's role as a hub of innovation.

We've learned a lot during our visit to the impressive opto-photonics labs here in the institution.

The high-tech research and innovation underway here is awe-inspiring.

And to think it all begins with just one idea.

This is the wonderful capacity that human beings possess: the ability to imagine, to see beyond the here and now with what Shakespeare called the "mind's eye," to what could be.

There are hundreds of people nurturing exciting new ideas in labs, offices, and even basements right across this province.

But without money or business expertise, some of those ideas may never see the light of day.

That's why today I'm so proud to launch our new $46-million Market Readiness Program.

It will provide companies with the money they need to move their ideas from the basement to the boardroom and into the market.

And if they need training and management expertise, they'll get that too.

I want to take a moment to acknowledge the important role that Ottawa business leaders played in helping our government create this new program.

From the people at the Ottawa Centre for Research and Innovation and the Ottawa Life Sciences Council, to the IT CEOs and venture capitalists — you told us in no uncertain terms about start-up companies that just needed a financial boost and sound leadership to take them over the top.

And we listened.

The result was a $160-million Ideas to Market Strategy that supports companies in that crucial start-up stage.

It helps them overcome financial hurdles and a lack of business experience to turn brilliant ideas into technology breakthroughs that can fuel our economy, create high-value jobs and change people's lives.

These investments are just the beginning.
 
We're going to keep working with you to move our province into the innovation fast lane by drawing on your talents and expertise.

That's why we're working with the MaRS Discovery District and the Ontario Centres of Excellence.

They're going to deliver our Market Readiness Program right across Ontario.

These two organizations in Ontario are already doing a tremendous job of helping companies bring their ideas to market.

One example is a company here in Ottawa called OneChip Photonics.

If you think about the Internet, the one thing that everybody wants is more speed.

OneChip Photonics is working on technology to make the Internet work up to one thousand times faster so people can communicate with each other easier — and for a lot less money.

OneChip is now on the verge of bringing the discovery to market thanks to help from the OCE.

Our other partners are pitching in to support start-up companies as well.

The Ottawa Life Sciences Council, now merged with the Ottawa Centre for Research and Innovation, is helping EcoVu.

When it comes to our drinking water, people everywhere on the planet want the same thing.

They want their water to be safe.

Well, at EcoVu, they're developing technology to detect contaminants in water so families in Ontario and around the world can enjoy clean water every time they turn on the tap.

There are hundreds of other exciting stories like that right here in Ottawa.

Ottawa continues to be a strong contributor to the success of Ontario's economy.

Our economy has generated 290,000 net new jobs since we first earned the privilege of serving Ontarians as their government.

Our government didn't create those jobs — hardworking, enthusiastic, entrepreneurial Ontarians created those jobs.

And we're going to have to stay hungry because the rest of the world is moving very fast.

I recently returned from a trip to Japan, which has the world's second largest economy.

Japan has 10 times as many people as we have in Ontario.

Before that, I led a trade mission to China and soon I will lead another to India.
 
China and India are each about one thousand times bigger than Ontario.

More than that, they're hungry for success.

Tom Friedman, a columnist with the New York Times, recently wrote that at a time when the French are debating the merits of a 35-hour work week, young Indians and young Chinese are prepared to work 35-hour workdays.

Here in Ontario, while we can't outnumber or outmuscle the competition, we can outsmart the competition by being the first to imagine a new product, service or process and the first to convert that idea into reality.

Ottawa entrepreneurs and researchers are well poised to play a leadership role in helping Ontario to play and win in the innovation race.

Here are the straight goods on Ottawa, my hometown.

According to CIBC World Markets, Ottawa has the fastest growing economy in the country.

Per capita, Ottawa has the highest number of post-secondary graduates, scientists and engineers of any city in the country.

Ottawa also has the highest level of R&D spending per capita in the country.

This is not just a provincial success.  This is a national success.

We want to help build on that success.

In addition to the new program I just announced, we're doing something else to make sure everyone with a great idea has the opportunity to move it off the drawing board and into the marketplace.

We're investing in 16 new projects that connect researchers with companies to develop cutting-edge technologies.

The investments are part of our $31.4-million Ontario Research and Commercialization Program.

Algonquin College has a hand in two of the projects that have received funding.

One of those will build a technology network that brings together research institutions and high-tech industry leaders in Ottawa.

The other will link Algonquin with nine other Ontario colleges to help small companies make technology breakthroughs.

I think more and more people are beginning to understand that these kinds of investments are essential to foster a culture of innovation in Ontario.

There are only two things left on which to build an economy with high-wage jobs and a high standard of living: education and innovation.

So, we need to build on our traditional strengths in the forestry, mining, auto and agricultural sectors.

But we also must put ourselves in a position where we can continually invent ourselves into prosperity.

That's why I've created this new Ministry of Research and Innovation.

That's why we're working so hard to foster this culture of innovation.

That's why we're calling upon our young people to use their imaginations, think of the impossible and then find a way to make it possible.

That's how we're going to effectively assert ourselves in the highly competitive global economy.

That's why over five years we're going to invest nearly $1.7 billion in research, commercialization and outreach.

By working to bring Ontarians' exciting new discoveries to market faster, we're going to attract investment and create high-value jobs.

That means more opportunities for Ontario families to build a better life.
 
And for me, that's fundamentally what government is all about: making sure that all Ontarians can find opportunity so all our people can achieve their greatest potential, whatever that might be.

Thank you very much.

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