Governments and businesses need partners adept at utilizing scientific and technological advancements to benefit the economy in the most cost-effective ways possible. Academic knowledge, concepts, and patents must, posthaste, translate into industrial solutions that generate value. This is precisely where INO and other Canadian RTOs play a pivotal role in the innovation chain. When the government partners with RTOs it gains access to innovation experts who can generate direct, rapid, and significant benefits for Canada’s entrepreneurs and workers. Investing in a network of centres that specialize in industrial innovation and bridge the gap between academia and industry constitutes a strategic decision to revitalize the economy.
Economic impact studies reveal that INO alone has generated new activities among our companies that have boosted the country’s GDP by $500 million a year. This works out to a greater than 20 to 1 return on the government’s investment! And INO is only one of a number of Canadian RTOs that, if organized, coordinated, and financially supported in a more sustainable way via dedicated programs conducive to their growth, would help our country fully capitalize on its immense intellectual and creative resources.
Working together to accelerate the recovery and energize the economy
Together, let’s transform our Canadian know-how into innovative, beneficial solutions that markets can adopt, and that help companies realize their full potential—which, in turn, will generate greater economic and societal value. By fostering a robust network of industrial research centers, we can bring vital R&D tools to companies seeking more efficient ways to innovate. Together, let’s support our businesses and help them expand, boost their domestic manufacturing, excel in their markets, and export products around the globe. Together, let’s build a thriving economy for Canada’s future!