Ontario Centres of Excellence Inc.

Ontario Centres of Excellence Inc.

October 24, 2012 12:51 ET

Ontario Centres of Excellence Fellowship Will Help Industrial Innovators Continue Development of Ground-Breaking Products

TORONTO, ONTARIO--(Marketwire - Oct. 24, 2012) -

Editors Note: There are two photos associated with this press release.

Two innovators with solutions to infrastructure and manufacturing challenges have been awarded prestigious Martin Walmsley Fellowships for Technical Entrepreneurship by Ontario Centres of Excellence (OCE). The awards were handed out at OCE's 2012 Annual General Meeting on Oct. 23.

"The products being developed by these two researchers represent the kinds of ground-breaking technologies that we are proud to support and help to advance," said Ontario Centres of Excellence President and CEO Dr. Tom Corr. "They embody the collaborative, innovative and creative spirit at the heart of Dr. Walmsley's vision. We congratulate the companies involved and are confident in their ability to turn these innovations into global success stories."

The Martin Walmsley Fellowship facilitates the transition of OCE-funded, university-based research into innovative business ventures. An expert panel selects the recipients, who are judged on criteria including strength of technology, commercial viability and sound business planning. The Fellowship honours the vision of Dr. Martin Walmsley, who was instrumental in founding Ontario Centres of Excellence in 1987. http://www.oce-ontario.org/programs/talent-programs/martin-walmsley-fellowship.

"The recipients of the Martin Walmsley Fellowship exemplify the entrepreneurial excellence we are proud to have in Ontario," said Brad Duguid, Minister of Economic Development and Innovation. "Support for this kind of ingenuity is essential to ensuring Ontario continues to be seen as a world-wide leader in new technologies."

Paul Webster of Laser Depth Dynamics, a partnership with Queen's University, will receive $100,000 over the next two years to develop his much sought-after process that provides better control over laser cutting, welding and drilling.

"I am very happy to receive this award on behalf of Laser Depth Dynamics," said Mr. Webster. "It is a tremendous vote of confidence in the work we have been doing. The fellowship will allow us to accelerate our technology development plan and engage customers in Ontario's manufacturing industry sooner than we had anticipated."

Michael Montgomery of Kinetica Dymanics, a partnership with the University of Toronto, will receive a one-year grant of $50,000 to advance technology that reduces vibrations in buildings due to earthquakes and high winds.

"The OCE Martin Walmsley Fellowship will allow Kinetica Dynamics to rapidly commercialize our Ontario based high-rise building damping technology throughout the world," said Mr. Montgomery. "The demand for this technology is tremendous and we want to be able to meet that demand."

About the 2012 Martin Walmsley Fellowship recipients:

Paul Webster - Laser Depth Dynamics

Laser Depth Dynamics, based in Kingston, has developed the first real-time analysis and control technique for industrial laser drilling and welding depth. Spun out of curiosity-based research at Queen's University, the technology will provide significant improvements in process development, productivity and cost minimization giving a competitive advantage to manufacturers in Ontario, Canada and abroad. http://www.laserdepth.com/

Michael Montgomery - Kinetica Dynamics

Toronto-based Kinetica Dynamics has developed the Viscoelastic Coupling Damper (VCD) which, when incorporated into high rise buildings, reduces vibrations caused by wind and earthquakes. Configuring Kinetica's VCDs into a high rise structure can reduce the materials required and increase the potential height. Kinetica's technology also makes high rise buildings more resilient to hurricanes and earthquakes improving safety and reducing damage. http://kineticadynamics.com/.

To view a video of all of this year's Martin Walmsley Fellowship recipients, please visit http://youtu.be/bEyOtXgpQtk.

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. 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 governments. A champion of leading-edge technologies, best practices and research, Ontario Centres of Excellence invests in sectors such as advanced health, digital media and information communications, advanced manufacturing and materials, and cleantech including energy, environment and water. OCE through its Centre for Commercialization of Research (CCR), an initiative supported by the federal government, also acts as a catalyst which allows innovative businesses to grow and achieve sustainable commercial success and global competitiveness. Ontario Centres of Excellence is a key partner in delivering Ontario's Innovation Agenda as a member of the province's Ontario Network of Excellence (ONE). Funded by the Government of Ontario, the ONE is Ontario's innovation system. The ONE is made up of regional and sector focused organizations designed to help Ontario-based entrepreneurs rapidly grow their companies, and create jobs. For more information visit www.oneinnovation.ca.

To view the first photo associated with this press release, please visit the following link: http://www.marketwire.com/library/20121024-paul_webster_pic_oct24.jpg

To view the second photo associated with this press release, please visit the following link: http://www.marketwire.com/library/20121024-michael_montgomery_pic_oct24.jpg

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