Friday, November 5th, 2010

Innovation From Ontario Colleges Is Helping The Economy

Conference Board of CanadaThe Conference Board of Canada released a study today that praises Ontario’s Colleges for providing much-needed innovation to stimulate the economy.

The report, titled Innovation Catalysts and Accelerators: The Impact of Ontario Colleges’ Applied Research, states the applied research services from Ontario colleges stimulate new research and development activity and spending in businesses.

“Stimulating innovation – especially among Ontario small and medium-sized enterprises – will be critical to future success, and Ontario’s colleges are providing a boost through their applied research services,” said Glen Hodgson, Senior Vice-President and Chief Economist, The Conference Board of Canada.

The report also found that students who participate in research projects acquire industry-relevant skills, which gives them an advantage in finding a job or becoming an entrepreneur after graduation.

The Conference Board also suggests that increasing federal and provincial spending by $93 million in Ontario’s colleges would boost the Ontario economy by almost $150 million(constant dollars), while creating 2,600 jobs between 2011 and 2014.

Ryan Leclaire
Author: Ryan Leclaire
Ryan has been writing for 7 years and has been featured in Chatelaine, Canadian Living and Cottage life.
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