Ontario Centres Of Excellence Inc.

Ontario Centres Of Excellence Inc.

March 25, 2008 18:54 ET

OCE: Ontario Budget Designed to Build Innovative Economy

TORONTO, ONTARIO--(Marketwire - March 25, 2008) - The Ontario Centres of Excellence (OCE) Inc. congratulated the Ontario government today for delivering a budget that strengthens the province's economy and makes it a more attractive place for innovative companies to do business.

"Clearly, this government recognizes the importance of supporting the commercialization of research in Ontario," said Mark Romoff, OCE President and CEO. "This budget reflects a firm commitment to develop and commercialize successful technologies."

Today's budget announced a 10-year income tax exemption for new corporations that commercialize intellectual property developed by qualifying Canadian universities, colleges or research institutes.

"This initiative will give new Ontario companies coming out of OCE-supported collaborations and programs a huge advantage in the Canadian market," said Romoff. "This will create an inviting commercialization and investment atmosphere in Ontario that should attract some of Canada's most promising researchers and start-ups."

OCE also applauded the government for its investment in several sectors and regions that are priorities for OCE:

- cleantech; bio economy; advanced health technologies; digital media

- research and innovation in Northern and rural communities

Building on the Ontario government's vision, OCE will continue to explore new market opportunities by fostering partnerships between government, academia and industry to create leading-edge companies that are well positioned to generate jobs and grow Ontario's economy.

"OCE looks forward to working with the Ontario government in moving toward a solid knowledge-based economy," said Romoff. "Budget 2008 lays down the foundation for the province's economic future - a future that ensures Ontario remains globally competitive."

About Ontario Centres of Excellence (OCE) Inc. - www.oce-ontario.org Ontario Centres of Excellence (OCE) Inc. drives the commercialization of cutting-edge research across key market sectors to build the economy of tomorrow and secure Ontario's global competitiveness. OCE also fosters the training and development of the next generation of innovators, entrepreneurs and business leaders, and is a key partner with Ontario's industry, universities, colleges, research hospitals, investors and governments. OCE's five Centres work in communications and information technology, earth and environmental technologies, energy, materials and manufacturing and photonics.

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