TORONTO, March 29, 2012 /CNW/ - The Council of Ontario Universities (COU) congratulates the federal government for its continued leadership and commitment to university research, particularly in this challenging fiscal environment.
"With the investments today the federal government has recognized the important role that research and innovation plays in our collective short and long-term economic prosperity. These investments will allow Ontario researchers to continue to contribute significantly to Canada's social and economic growth," says Alastair Summerlee, Chair of COU and President of the University of Guelph.
Ontario universities are particularly pleased to see a $500 million investment in the Canada Foundation for Innovation to support advanced research infrastructure, such as High Performance Computing.
The government has also committed to new programming to support industry-university partnership. By working more collaboratively with industry to better harness the commercial potential of research at Ontario institutions, they are able to find innovative solutions to tough, industry-based problems.
Ontario universities and affiliated research hospitals generated over $604 million in research contracts in 2008 alone, making Ontario's universities key contributors to the shared goal of attaining high levels of job growth and business investment that lead to prosperity and a high standard of living for all.
"With over 70 per cent of new jobs requiring some form of postsecondary education, investment in university research allows faculty to engage students in hands-on research, giving students the analytical and innovative skills they need to thrive in today's knowledge-based economy," says Bonnie Patterson, COU President and CEO.
"The commitments made in today's budget support our students with the funding and infrastructure required to ensure that Canada's workforce has the talent it needs to remain globally competitive. It will also ensure that Canada continues to be a global leader in research and innovation that is able to attract and retain the best and brightest researchers from around the world," says Patterson.
Visit the Council of Ontario Universities website at www.cou.on.ca
Follow us on Facebook at http://www.facebook.com/CouncilofOntarioUniversities
Follow us on Twitter at @OntUniv
For further information:
Senior Director, Communications and Public Affairs
416-979-4341 or 416-707-6787