Ontario Centres of Excellence Inc.

Ontario Centres of Excellence Inc.

October 09, 2013 12:13 ET

New Ontario Centres of Excellence-HanHai Partnership Strengthens Sino-Canadian Business Ties

TORONTO, ONTARIO--(Marketwired - Oct. 9, 2013) - In a world where business success is increasingly dependent on international alliances, agreements like the one signed this morning by Ontario Centres of Excellence (OCE) and China's HanHai ZhiYe Investment Management Group are more important than ever.

This partnership builds on Sino-Canadian business relations by creating new opportunities for scientific collaboration, knowledge sharing, access to emerging markets and co-investment opportunities in Ontario companies.

"OCE is pleased to be part of this significant initiative that will advance business opportunities between Ontario and China," said Dr. Tom Corr, President and CEO of OCE. "We see tremendous mutual benefits coming out of this partnership and stronger ties between our two economies."

OCE and HanHai signed a Letter of Understanding to lead the establishment of a China-Canada enterprises innovation centre, including a Sino-Canadian scientific and innovation collaboration and exchange platform that will enable HanHai and OCE to develop an Ontario-China network of entrepreneurs and investors.

"HanHai and OCE are making important new connections between China and Ontario," said Hanhai Chairman Hanguang Wang. "We are excited by the possibilities that exist when we start connecting entrepreneurs with investors and in both the short and long terms."

The agreement stems from the 2008 Ontario-China Memorandum of Understanding on Research and Innovation (renewed this past January) which strengthens collaboration and knowledge sharing.

"Working together, we are creating the right atmosphere for our talented companies and institutions to succeed and boost economic growth both here in Ontario, and in China," said Reza Moridi, Ontario Minister of Research and Innovation. "We are driving important discovery, innovation and business opportunities in both jurisdictions that will improve our everyday lives and create jobs."

The collaboration between the two organizations is supported by Ontario's Ministry of Economic Development, Trade and Employment and Ministry of Research and Innovation, China's Ministry of Science and Technology, the Chinese Embassy, the Chinese Consulate General in Toronto and Beijing Municipal Government.

About Ontario Centres of Excellence (OCE) Inc.

Ontario Centres of Excellence (OCE) drives the commercialization of cutting-edge research across key market sectors to build the economy of tomorrow and secure Ontario's global competitiveness. In doing this, OCE fosters the training and development of the next generation of innovators and entrepreneurs and is a key partner with Ontario's industry, universities, colleges, research hospitals, investors and government ministries. A champion of leading-edge technologies, best practices and research, OCE invests in sectors such as advanced health, information and communications technology, digital media, advanced materials and manufacturing, agri-food, aerospace, transportation, energy, and the environment including water and mining. OCE is a key partner in delivering Ontario's Innovation Agenda as a member of the province's Ontario Network of Entrepreneurs (ONE). Funded by the Government of Ontario, the ONE is made up of regional and sector-focused organizations and helps Ontario-based entrepreneurs and industry rapidly grow their company and create jobs. For more information visit www.onebusiness.ca.

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