KITCHENER, ONTARIO--(Marketwire - March 30, 2012) - The success of Miovision Technologies and the government's plan for innovation in Economic Action Plan 2012 were highlighted today by Minister Gary Goodyear.
"The Government of Canada is committed to taking innovative ideas into the marketplace where they can generate jobs, growth and prosperity," said Minister Goodyear. "That's why we have made new investments to support leading-edge research and international collaboration."
Increasing business investment in research and development is crucial to Canada's long-term competitiveness, and programs such as National Research Council Canada's Industrial Research Assistance Program (NRC-IRAP) are helping businesses innovate. Miovision is an innovative startup that offers consultants and governments' video and web based data collection tools to help reduce traffic congestion, minimize environmental impacts and improve road safety.
Support for science and technology (S&T) has been a government priority since 2006, as exemplified by the introduction of the S&T Strategy in 2007 and the series of initiatives to build an innovative economy that followed. Federal S&T expenditures reached nearly $11.9 billion in 2010-11.
In Economic Action Plan 2012, our Government announced that $1.1 billion over five years will go to directly supporting research and development and $500 million for venture capital. These investments and actions keep our economy strong, create high-quality jobs and ensure that Canada is a premier destination for the world's brightest minds.
To learn more about Economic Action Plan 2012, please visit the Department of Finance website (www.fin.gc.ca).
To learn more about the Government of Canada's S&T initiatives, visit the Science and Technology for Canadians website (www.science.gc.ca).
Contact Information:
Director of Communications
Office of the Honourable Gary Goodyear
613-947-2956