Ontario Centres of Excellence Inc.

Ontario Centres of Excellence Inc.
Korea Evaluation Institute of Industrial Technology

Korea Evaluation Institute of Industrial Technology

September 22, 2014 12:39 ET

Ontario, Korea to Collaborate on Advanced Tech Research Projects

OTTAWA, ONTARIO--(Marketwired - Sept. 22, 2014) - A new era of scientific and technology research and innovation development in Ontario and South Korea is dawning.

At a ceremony in Ottawa today, a Memorandum of Understanding was signed between Ontario Centres of Excellence (OCE) and Korea Evaluation Institute of Industrial Technology (KEIT) to formalize a collaborative relationship.

"This strategic partnership unites the expertise of Ontario and South Korea to help transfer innovative technologies to the marketplace," said Reza Moridi, Ontario's Minister of Research and Innovation. "Collaborative alliances like this support a dynamic research climate that will generate positive economic outcomes for people in Ontario and South Korea."

This MOU will have a particular focus on commercialization that taps into the expertise of both organizations in such areas as biotechnology, automotive and healthcare.

"OCE's proven track record of success and years of experience in the commercialization of academic research is a perfect fit for this kind of collaboration," said OCE President and CEO Dr. Tom Corr. "We know Ontario's universities and colleges are producing world-class research and innovations that have applications and potential beyond our borders."

The signing of the MOU is another step in the evolution of the relationship between OCE and KEIT.

"We know Canada has the remarkable innovation competitiveness in R&D. I believe that this signing will not only advance the industrial technology cooperation between Canada and Korea, but also create the business opportunities of technology-based firms in those countries," said Ki-Sub Lee, CEO of KEIT.

About Ontario Centres of Excellence (OCE) Inc. (www.oce-ontario.org)

Ontario Centres of Excellence (OCE) drives the commercialization of cutting-edge research to build the economy of tomorrow and secure Ontario's global competitiveness. 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, domestic and foreign investors, and government ministries. A champion of leading-edge technologies, best practices, innovation, entrepreneurship and research, OCE invests in such areas 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), which helps Ontario-based entrepreneurs and industry rapidly grow their company and create jobs. Learn more at www.onebusiness.ca.

About KEIT (www.keit.re.kr)

KEIT works for the government's industrial technology R&D program in Korea. KEIT is in charge of R&D planning, evaluation and management in order to foster and strengthen global industrial technology competitiveness. Through the support for the cooperation among business, academia and research institutes, KEIT makes continually an effort to grow and create emerging industry in Korea. Based on the world's topnotch technical competitiveness, KEIT is opening the era of "K-tech", the technology of the Republic of Korea, which contributes to the future of mankind.

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