Burnaby, BC: BCIT is encouraged by today’s budget announcement by the federal government recognizing the important role applied research plays in advancing innovation.
“The program the federal government is supporting is another contribution to moving Canada’s innovation agenda forward. That agenda is crucial to enhancing Canada’s productivity which will determine our long-run standard of living,” says Chair of Polytechnics Canada and BCIT President Don Wright. “BCIT and our fellow members will capitalize on these new opportunities and enhance the contributions they make to Canadian innovation and productivity, and to producing the skilled workers that Canadian industry needs.”
The budget contains three key strategic announcements that will benefit the economy by advancing college and polytechnic research for Canadian companies:
- Supporting 30 new Industrial Research Chairs at polytechnics and colleges with $3 million this year and $5 million annually on a permanent basis starting in 2012/13
- Providing $80 million in new funding to the Industrial Research Assistance Program to help SMEs accelerate their adoption of key information and communications technologies through collaborative projects with polytechnics and colleges; and
- Allocating $12 million over five years to support joint college-university commercialization projects.
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For further information, media can contact:
Kelly Friday
Manager, Media Relations
Tel: 604.432.8773
Cell: 604.836.6700
kelly_friday@bcit.ca
