Government of Canada Supports University Research Parks

WATERLOO, ONTARIO--(Marketwire - Dec. 11, 2012) - An investment from the Government of Canada will allow the Canadian Association of University Research Parks (AURP Canada) to carry out research and planning activities for six southern Ontario university research parks. Peter Braid, Member of Parliament for Kitchener-Waterloo, on behalf of the Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), announced the investment today.

"Our Government's top priority is creating jobs, growth and long-term prosperity for all Canadians," said MP Braid. "Investments such as this one demonstrate our Government's commitment to unlocking the research capacity of southern Ontario's post-secondary institutions to help the region become more competitive globally."

This $129,500 investment is being provided through FedDev Ontario's Prosperity Initiative, which aims to encourage businesses, not-for-profit organizations and post-secondary institutions in southern Ontario to undertake projects that will result in a more productive, diversified and competitive economy in the region.

AURP will use the investment to determine the economic impacts of the six research parks in southern Ontario and to prepare strategic and marketing plans to drive growth and improve the competitiveness of these facilities. The project will identify emerging economic clusters in the region, as well as ways to use the research parks to further the developments of these clusters. This information will be used to attract foreign investment, increase the number of companies located in the parks, and ultimately increase the number of high-quality jobs in the region.

"It's a great pleasure on behalf of the board and members of AURP Canada to work with FedDev Ontario on these very important projects," noted Carol Stewart, President of AURP Canada and Manager of the David Johnston Research + Technology Park. "We are confident the information collected, and strategies created as a result of the support by FedDev Ontario and efforts of AURP Canada will help to position the Ontario region, its parks and the national knowledge economy for sustainable success."

For more information on this project and the Prosperity Initiative, please see the backgrounder.

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. The Agency has launched 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 encourage partnerships and support projects that help the region's businesses and communities become more competitive, innovative and diversified. To learn more, please visit www.FedDevOntario.gc.ca or call 1-866-593-5505.

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This news release is available online at www.feddevontario.gc.ca.

Backgrounder

FedDev Ontario Contribution to the Canadian Association of University Research Parks

FedDev Ontario is providing the Canadian Association of University Research Parks (AURP Canada) with a non-repayable contribution of up to $129,500 through its Prosperity Initiative.

Established in 2007, AURP is a not-for-profit corporation that represents 27 university research and technology parks across Canada. AURP's overall goal is to promote the development and operations of research parks that foster innovation, commercialization and economic competitiveness in a global economy through collaboration among universities, industry and government.

This project will be part of a larger effort to examine the economic impact of all 27 parks represented by AURP. FedDev Ontario's contribution will focus on research parks in southern Ontario, including the following:

• The David Johnston Research + Technology Park at the University of Waterloo
• McMaster Innovation Park
• The University of Guelph Research Park
• Innovation Park at Queen's University
• Western Research Park
• The MaRS Discovery District of Toronto

For more information, please visit www.aurp.ca.

Prosperity Initiative

FedDev Ontario's Prosperity Initiative is designed to encourage businesses, not-for-profit organizations and post-secondary institutions in southern Ontario to undertake projects that will result in a more productive, diversified and competitive economy in the region.

Funding is available for projects that

• enhance productivity, by accelerating the adoption of new technologies, processes and skills to enhance businesses and sectors in southern Ontario to achieve higher output in relation to their investments;
• diversify the regional economy, by increasing the number of new industries or opportunities in southern Ontario communities or regions with the potential to have long-term impacts on their economic diversity; and
• build a competitive advantage for southern Ontario, by building on the assets and strengths of southern Ontario businesses and regions to create or expand economic clusters and enhance their global competitiveness.

Applications for funding are being accepted and assessed on an ongoing basis. For more information and to apply, please refer to the Program Guidelines available on the website at www.FedDevOntario.gc.ca.