Ottawa, October 17, 2011 – ACCC commends the report of Expert Panel reviewing Federal Support to Research and Development for its recognition of the importance of college-business collaboration in applied research and innovation.
“We agree that investments in pure research may contribute to the economy in the long-term, but to spur growth and job creation, Canada needs to strike a better balance between pure research and business innovation”, says ACCC president and CEO James Knight. “Colleges and institutes focus on the practical side of business innovation and continuous improvement which is the very root of productivity. They produce graduates with advanced skills in incremental innovation and the design, adaptation and diffusion of new technologies.”
Canada’s small and medium-sized enterprises participated in 4,440 applied research partnerships with colleges and institutes in 2010-11. Recent federal investments through the College and Community Innovation Program, the Industrial Research Chairs for Colleges and the Industrial Research Assistance Program show the federal government’s increasing recognition that college-business partnerships are incubators for innovation, productivity and competitiveness.
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