New Round of Proposals for Ontario Research and Development Challenge Fund
TORONTO, Nov. 22 /CNW/ - The government of Ontario is calling for a new round of research proposals for the Ontario Research and Development Challenge Fund (ORDCF). The challenge fund supports qualifying proposals that reflect a committed partnership between publicly funded institutions, such as universities, hospitals and other research facilities, and their business partners.
Established in 1997, the challenge fund has committed almost $500 million to fund research projects across the province. As announced in the 2002 Ontario Budget, the fund has been expanded by $250 million over the next five years. This is its 12th round of calls for new proposals.
"Investing in research and development is investing in Ontario's future," said Minister of Enterprise, Opportunity and Innovation Jim Flaherty. "It has been proven that R&D influences job creation, economic growth and overall prosperity. The challenge fund supports our world-class institutions by ensuring that top researchers in Ontario continue to conduct leading edge research."
As part of the government's overall strategy to develop a positive business climate in Ontario, the challenge fund was founded to increase the province's research capacity in universities, colleges, hospitals and research institutes. It was also designed to create a stronger bond between the business and research sectors.
"The challenge fund is building new bridges between research institutions and the private sector," said Dr. Floyd Tuler, executive director of the Centre for Automotive Materials and Manufacturing at Queen's University. "This will lead to new discoveries and new prosperity all over Ontario."
"Innovation is the cornerstone on which a high-income, job-creating economy is built," said Flaherty. "Through the challenge fund and other initiatives, this government is doing its part in fostering an innovative culture. In order to make our province competitive, all sectors of the economy need to work together."
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For more information visit www.ontario-canada.com.
For further information: Dan Robertson, Minister's Office, (416) 325-8321