WATERLOO, ONTARIO--(Marketwired - Oct. 1, 2013) - Today, the Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), as well as Peter Braid, Member of Parliament for Kitchener-Waterloo, recognized the progress of the Waterloo Watershed Node project. The Southern Ontario Water Consortium (SOWC) hosted a networking event at the University of Waterloo to inform partners and the private sector of local advancements in watershed management.
The SOWC is a platform for turning water ideas into water innovations through research, development, testing and demonstration of solutions to water problems faced in Ontario and around the world. To date, this project has leveraged over $25 million in investments from the private sector to help to bridge the gap between research and development and the commercialization of market-driven breakthrough technologies. It has allowed water-related technology companies in southern Ontario to test their innovations on a watershed-level to allow them to compete effectively in local, national and global markets.
"Our Government is committed to supporting the development of research-based technologies and infrastructure to ensure that communities and businesses in southern Ontario can prosper," said Minister Goodyear. "The Waterloo Watershed Node of the SOWC platform is a great example of how building a strong partnership between the public and private sectors can result in accelerated economic growth throughout the region, creating jobs and smarter natural resource management."
"Today the Government has demonstrated its commitment to ensuring the prosperity of this region, by investing in the development of a supportive environment for the region's watershed research, development and testing," said MP Braid.
"The SOWC is creating unique facilities for academic and private sector collaboration for technology development that will support economic opportunities and create jobs in southern Ontario," said Brenda Lucas, SOWC Operations Manager. "Specifically, the SOWC watershed activities led by University of Waterloo enable collaborative research and development, testing and demonstration opportunities that attract companies with leading-edge watershed monitoring technologies and services to the region, to utilize the 'living laboratory' within the Grand River watershed."
In August 2011, FedDev Ontario announced $19.5 million in support of the development of the SOWC platform through the Technology Development Program. The Technology Development Program is designed to encourage the public and private sectors to collaborate on the development of large-scale, advanced technologies that will result in new market opportunities for southern Ontario. Through the SOWC platform, universities, private sector companies, municipalities and not-for-profit organizations are working together to develop, test, and pilot market-driven water technologies that are in high demand both regionally and around the world.
While in Waterloo, Minister Goodyear also toured the Communitech Hub, a FedDev Ontario supported technology commercialization hub. This unique model brings together 120 startups, eight multinational companies, two academic incubators, a seed accelerator, a late stage incubator as well as a host of government, academic and capital providers under one roof.
Created in 2009, FedDev Ontario supports the southern Ontario economy by building on the region's strengths and creating opportunities for jobs and economic growth. In Budget 2013, the Government of Canada demonstrated its continued commitment to workers, families and communities in southern Ontario with the renewal of FedDev Ontario. Economic Action Plan 2013 provides $920 million over five years for the Agency, starting on April 1, 2014. As part of the renewal, FedDev Ontario will be allocating $200 million over five years for a new Advanced Manufacturing Fund in Ontario. To learn more, please visit www.FedDevOntario.gc.ca or call 1-866-593-5505.
As outlined by the Prime Minister, the Government of Canada remains focused on what Canadians care most about: their families, the safety of our streets and communities, their pride in being a citizen of this country, and their personal financial security.
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