When Finance Minister Jim Flaherty announced the new federal budget last week, the headlines were all about the
tightening of purse strings.
But there was some good news in the budget for research and innovation adding up to more than $1 billion in investment. The university of Toronto provides a breakdown of its own
here and the Cross-Border Biotech Blog has another roundup of innovation highlights
here.
Among the research grants, the government will provide $45 million over five years to create 140 post-doctoral fellowships at universities. "Though the vast majority of post-doctoral fellows will not directly benefit from this funding, we hope that it will serve as a benchmark for the value we bring to university research," Dr. Jesse Greener, President of the University of Toronto Post-doctoral Association in a
statement.
For small business, the budget included $40 million over five years to for a Small and Medium-sized Enterprise Innovation Commercialization Program that supports businesses in developing new prototypes. In a
statement issued by Polytechnics Canada, Doug Smith of Conematic Heating systems said the funding would enable "companies such as mine to market our products to federal departments and agencies. These programs will greatly enhance the economic competitiveness of Conematic in these trying times."
Author: Edward Keenan
Sources: Dr. Jesse Greener, President, University of Toronto Post-doctoral Association; University of Toronto News; Polytechnics Canada; Corss Border Bio-tech Blog