POLITICAL ECONOMY

Investments To Strengthen Research And Innovation Sector

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The Ontario government is investing more than $240 million over three years to help advance research at five leading research institutes across the province. By supporting advanced research, Ontario will continue to strengthen its existing innovation and commercialization capacity, grow its skilled workforce, and position itself as a global leader.

“Our government is supporting research and innovation that leads to discoveries that make a real impact on people’s lives,” said Jill Dunlop (pictured), minister of colleges and universities. “This investment will ensure that these five leading research institutes have access to state-of-the-art technology, talent and equipment and can continue their ground-breaking work propelling Ontario to a leadership position in advanced science, technology and innovation.”

This investment includes:

  • $216 million for the Ontario Institute for Cancer Research, a not-for-profit research institute that conducts and enables high-impact cancer research to accelerate the development of discoveries for patients in Ontario and worldwide.
  • $7.5 million for Ontario Genomics, a not-for-profit organization that is leading the application of genomics-based solutions – the science of interpreting and harnessing DNA codes of living organisms that help drive economic growth and improve people’s quality of life.
  • $6 million for Clinical Trials Ontario, a leading not-for-profit organization dedicated to strengthening, promoting and capitalizing on Ontario’s competitive advantages for conducting high-quality clinical trials.
  • $6 million for The Fields Institute, a centre for mathematical research activity that brings together mathematicians from across Canada and abroad to carry out research and address problems of shared interest.
  • $4.74 million for Compute Ontario, which brings together many partners and stakeholders in the province’s digital research infrastructure ecosystem to coordinate provincial and federal investments and strategy to better support Ontario’s researchers.

“Long after the COVID-19 pandemic has ended, cancer will continue to affect people in Ontario and around the world. This support will help us to continue our work with partners across the province and around the world to continue driving the world-class translational research OICR has become known for that helps ensure that those diagnosed with cancer live longer, healthier lives. Working together with our strategic partner FACIT, this continued support is also critical to ensure that the economic benefits of cancer research and innovation stay in Ontario. We thank the Government of Ontario for their continued support for cancer research and their long-term vision for a healthier and stronger Ontario,” stated president and scientific director, Ontario Institute for Cancer Research, Dr. Laszlo Radvanyi.

This funding will help make clinical trials more timely, efficient and cost-effective; improve researchers’ access to digital research infrastructure (including in rural and underserviced areas); and develop the knowledge and tools to diagnose cancer patients as early as possible to dramatically transform their survival rate and quality of life.

Research and innovation are essential drivers of Ontario’s economic growth as the province continues to fight COVID-19. Providing funding to five of the province’s leading research institutes will help keep ideas, expertise, and intellectual property in Ontario. This investment will also foster a skilled labour force, support long-term economic growth, and promote new business opportunities across the province.

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