Finding the right equation for the business of innovation

    Ontario Centres of Excellence reports 200% investment leverage during a
    year of strong results

    TORONTO, Oct. 1 /CNW/ - Ontario Centres of Excellence (OCE) Inc., marking
a 20 year milestone in formulating innovation across Ontario through its
Research, Commercialization and Talent programs, reported a year of strong,
solid results at its Annual General Meeting (AGM) on Tuesday, September 25,
    Investing $16.4 million in research over the past year, OCE attracted an
additional $33.6 in investment from industry and government partners - a 200%
leverage. These investments supported the projects of 451 principal
investigators, engaged a further 4,000 researchers and students, and
transitioned 1,878 researchers from academia to industry.
    OCE Commercialization programs helped launch 19 new leading-edge
companies, bringing the total to 95 this year. Reflecting the confidence in
OCE's business development programs, these start-ups attracted $85 million in
additional investment capital from angel and venture capital investors - clear
evidence of their commercial viability. Delivering every kind of innovation
from health care to photonics and IT, the businesses are situated throughout
Ontario: Hamilton, Cambridge, Toronto, Mississauga, Thunder Bay, Kingston,
Waterloo and Ottawa.
    "These companies, with their high value products and services, reflect
the cutting-edge research  and entrepreneurial spirit needed to build a more
competitive Ontario," said Mark Romoff, President and CEO, OCE.
    Proof of OCE's winning formula for moving new technologies to market was
a meeting highlight as Atreo, Monteco, Northern Nanotechnologies, REGEN,
Sketch 2, Quantum Dental, Quanser and Vocalage showcased their newest
developments in the energy, environmental, IT, medical and digital media
    "We are proud of our record of achievement - building strong linkages;
fostering entrepreneurship; identifying and growing the next generation of
innovators. This combination has enabled OCE to maintain our position as a
leader in accelerating and commercializing innovative technology. Our results
represent an extraordinary wave of momentum in Ontario - a clear sign that we
are on course with the exact equation to make Ontario the place where next
happens," Romoff added.

    About Ontario Centres of Excellence

    Ontario Centres of Excellence (OCE) Inc. drives the commercialization of
cutting-edge research across key market sectors to build the economy of
tomorrow and secure Ontario's global competitiveness. In doing this, OCE also
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, investors and governments. Celebrating 20 years
of innovation in 2007, OCE's five Centres work in communications and
information technology, earth and environmental technologies, energy,
materials and manufacturing, and photonics.

For further information:

For further information: or to obtain a copy of the OCE 2006/2007 Annual
Report, contact Ann Holtby, Marketing and Communications, Ontario Centres of
Excellence, (416) 861-1092 Ext 1018 or email

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Ontario Centres of Excellence

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