Federal Economic Development Agency for Southern Ontario

Federal Economic Development Agency for Southern Ontario

April 01, 2014 08:30 ET

Minister Goodyear Highlights the Role of Technological Innovation in Southern Ontario's Economic Prosperity

OTTAWA, ONTARIO--(Marketwired - April 1, 2014) - Federal Economic Development Agency for Southern Ontario (FedDev Ontario)

FedDev Ontario Minister of State Gary Goodyear today delivered a keynote address at the opening session of the8th annual Institute of Electrical and Electronics Engineers' International Systems Conference to highlight the Government of Canada's commitment to strengthening technological innovation.

The conference provides an opportunity for systems engineers, managers, researchers, and educators to collaborate on how to advance the engineering of complex systems in multiple areas, from aerospace and electronic systems to robotics and automation.

In his speech, Minister Goodyear spoke about innovative technology developed in southern Ontario with the support of FedDev Ontario. These projects include:

  • Smart grid technology developed by Smart Energy Instruments;
  • Horticultural robotics technology developed by the Vineland Research and Innovation Centre and local companies; and
  • Medical imaging technology developed by a partnership led by the Sunnybrook Research Institute.

The Minister also outlined a series of new funding initiatives, launched in December 2013, which will continue to fuel business innovation in the region.

Quick Facts

  • Since its creation in August 2009, FedDev Ontario has invested more than $1.1 billion, resulting in partnerships with more than 5,300 organizations and more than $1.5 billion in additional leveraged investments from almost exclusively non-government sources to support businesses, organizations and communities in southern Ontario.
  • Businesses, not-for-profit organizations, post-secondary institutions and angel organizations can now apply for funding through a series of initiatives delivered by FedDev Ontario. More than $530 million over five years is available through the Southern Ontario Prosperity Initiatives, aimed at retaining, attracting and growing businesses in southern Ontario to increase the region's global competitiveness.
  • Also, $200 million over five years is available through the Advanced Manufacturing Fund in Ontario, aimed at developing transformative products and technologies to help Ontario manufacturers create jobs and compete with the rest of the world.

Quotes

"Our Government understands that science and technology power commerce. To remain at the forefront of the global economy, we must invest in the people, labs, facilities and ideas that will produce tomorrow's breakthroughs. We must forge the partnerships necessary to bring those ideas to marketplaces well beyond our borders."

Gary Goodyear, Minister of State for FedDev Ontario

Related Products

Address to the Institute of Electrical and Electronics Engineers International Systems Conference

Video about Sunnybrook Research Institute project

Associated Links

- Investing in Business Growth and Productivity

- Investing in Business Innovation

- Investing in Commercialization Partnerships

- Investing in Regional Diversification

- Advanced Manufacturing Fund

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