Eves government announces major investment at University of Waterloo
WATERLOO, ON, Nov. 27 /CNW/ - The Ernie Eves government will invest $3 million to support the establishment of the Institute for Quantum Computing at the University of Waterloo, Al McDonald, Parliamentary Assistant to the Minister of Enterprise, Opportunity and Innovation, announced today.
"The Ontario government is strongly committed to investing in science, technology and innovation," McDonald said. "Through the Ontario Innovation Trust, we are investing in the infrastructure and equipment necessary to support advanced research, innovation and discovery in our province."
The investment will enable the institute to set up a theoretical and experimental program to study the implications of quantum mechanics for information processing. This follows an announcement last June that the government invested $6 million in funding for the Institute for Quantum Computing and the Perimeter Institute at the university.
Since its creation in 1999, the Ontario Innovation Trust has committed investments of $50.8 million in infrastructure support for 86 research projects in the Kitchener-Waterloo area. Funding partners have added $77.9 million, for a total of $128.6 million invested in research infrastructure.
"The investments in the Waterloo region underscore our commitment to research which drives our knowledge-based economy," McDonald said. "This is essential for the prosperity of all Ontarians."
"The University of Waterloo carries out $100 million worth of research each year," said Kitchener-Waterloo MPP Elizabeth Witmer. "According to Statistics Canada, the university is the starting point for more than 22 per cent of Canada's high-technology-based spin-off companies. This is why today's investment by the government is so important."
Established by the province, the Ontario Innovation Trust has announced investments totaling $649.5 million to support 806 research projects at Ontario's universities, hospitals, colleges and other non-profit research organizations.
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For more information, visit www.ontario-canada.com
For further information: Heidi Rogers, Parliamentary Assistant's Office, (416) 325-6390