Economic Action Plan invests in growth through research and development at
Centennial College

TORONTO, Nov. 4 /CNW/ - Centennial College is receiving $525,000 from the federal government to conduct research and development, new-technology assessments and product testing jointly with small- and medium-sized businesses.

Centennial's Applied Research and Innovation Centre (ARIC) will receive the funding over a two-year period to support applied research in the areas of energy and sustainable development, digital gaming and animation, and wireless networking and services. A total of 10 industry-driven projects will be completed.

The funding is derived from the $15-million Applied Research and Commercialization Initiative, a pilot project aimed at addressing the gap between research and commercialization in southern Ontario, and encouraging collaboration between small- and medium-sized enterprises and post-secondary institutions such as Centennial. The initiative is part of Canada's Economic Action Plan.

"This new program will create more jobs and sustain economic growth by helping small businesses get new ideas into the marketplace faster," said the Honourable Gary Goodyear, Minister of State for FedDev Ontario. "Our government is committed to supporting families, businesses and communities of southern Ontario."

The Applied Research and Commercialization Initiative is a direct result of feedback from business leaders, academics and community leaders from across southern Ontario, who suggested FedDev Ontario take a leadership role in addressing the gap between research and commercialization. More information on the Applied Research and Commercialization Initiative is available online.

Now in its second year of operation, FedDev Ontario is launching 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, contact Centennial College's Applied Research and Innovation Centre at 416-289-5000, ext. 8056, or visit www.centennialcollege.ca/applied.

For further information:

Media contact: Mark Toljagic, Communications Officer, Centennial College, 416-289-5000, ext. 7142/[email protected]