2007 BUDGET UPDATE

Building on Ontario’s Innovation Advantage

Ontario’s future prosperity depends more than ever on investment in research and innovation.  Whether created in public institutions or the private sector, it is critical that new innovative ideas achieve their commercial potential in a manner that is beneficial to the Ontario economy.

The government is committed to expanding Ontario’s foundation in research, innovation and commercialization by investing $1.7 billion over five years to 2009-10, including $527 million for the Ontario Research Fund and $279 million for the Ontario Institute for Cancer Research.  Other highlights include:

• $15 million to the University of Toronto, which is advancing research in structural genomics – the study of human proteins to treat diseases such as cancer
• $2 million to the Northern Centre for Advanced Technology in Sudbury, which has a solid track record for helping northern Ontario companies bring innovative products to market
• $3 million to the Canada-Israel Industrial Research & Development Foundation, an organization that promotes collaborative research and development between Israel and Canada
• $2 million to McMaster University, home to one of Canada’s most technically advanced telesurgery centres: the Centre for Minimal Access Surgery
• $8 million for the MaRS Discovery District, an organization that helps ensure the delivery of high-end acceleration services to innovative companies.

Growing a Greener Economy

The government is investing in the research and innovation needed to help Ontario’s automotive sector become a global leader in alternative fuels and clean car technology.  The 2007 budget announces support for the development of new environmental technologies, through:

• $21 million for Queen’s University, which is working with the private sector to build an advanced research and innovation centre specializing in bioprocessing and biomaterials
• $15 million for the Ontario Centres of Excellence, whose Energy Centre is helping business and academia work together to bring energy innovation, such as low-carbon technologies, to market for a cleaner environment

• $6 million to Lakehead University in Thunder Bay, which is building its capacity to contribute to future innovation for the new northern economy and to the competitive and sustainable development of Ontario’s boreal forest
• $3 million to the University of Ontario Institute of Technology, which is enhancing its ability to explore opportunities in hydrogen technology
• $400,000 to the Durham Strategic Energy Alliance, which is an organization of industry, academia, local and regional Durham governments committed to developing sustainable energy solutions for Ontario.

Learn more about Ontario's budget.