The $26.7 million investment will further Canada's role in space technology
LONGUEUIL, QC, May 25, 2018 /CNW/ - Better space technologies are built on new, innovative ideas from talented Canadians. The Government of Canada is proud to invest in these revolutionary new concepts to turn them into products that will help improve our daily lives.
To this end, the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, announced today an investment of more than $26.7 million that will benefit 33 Canadian organizations. This investment will create or secure 397 jobs and give 66 students valuable experience in space-related fields.
The funds will support 46 projects developing game-changing technologies in medicine, artificial intelligence, autonomous navigation, and virtual reality.
These projects will advance technologies designed to meet a variety of pressing needs in space and on Earth, including: managing astronauts' health; mapping our land and waters; monitoring forest fires; improving weather forecasting; and advancing our understanding of climate change.
- This funding is awarded through the CSA's Space Technology Development Program, which supports innovation to enhance the capabilities and competitiveness of Canada's space sector.
- A portion of this funding was earmarked for small and medium-sized companies, which represent 93 percent of the Canadian space industry.
- This initiative is part of the Government of Canada's Innovation and Skills Plan, a multi-year strategy to create well-paying jobs for the middle class.
- Overall, the space sector contributes 24 000 jobs (direct and indirect) to the Canadian economy and $2.7 billion to the Gross Domestic Product. It generates $5.3 billion in annual revenues.
"Today's investments in space research and development will result in a higher quality of life for Canadians tomorrow. Investing in Canada's space sector's capacity to innovate will lead to new discoveries, business opportunities for Canadian companies, and well-paying middle-class jobs in STEM."
The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development
SOURCE Canadian Space Agency
For further information: Canadian Space Agency, Media Relations Office, Telephone: 450-926-4370