Ontario Invests Nearly $200 Million in Homegrown Research and Innovation

TORONTO – In a significant move to bolster innovation and research, the Ontario government has announced a nearly $200 million investment over the next three years. This funding aims to enhance Ontario-made research and keep valuable expertise and intellectual property within the province, promising long-term economic growth and advancements in various scientific fields.

“Ontario’s research institutes are making new discoveries and doing cutting-edge research that is significantly improving lives,” said Jill Dunlop, Minister of Colleges and Universities. “This funding will help researchers continue to solve real-world problems, such as making clinical trials timelier and developing tools for earlier cancer diagnosis so Ontarians can live longer and healthier lives.”

The substantial investment will be distributed among six leading research institutes:

• Ontario Institute for Cancer Research (OICR): Receiving $144 million over two years, OICR is the province’s hub for world-class cancer research. The institute focuses on overcoming significant challenges in cancer research and delivering solutions for early detection and more effective treatments.
• Perimeter Institute: Allocated $36 million over three years, this not-for-profit organization is dedicated to fundamental research, training, and educational outreach in theoretical physics.
• Ontario Genomics: Set to receive $5 million over two years, this organization leads the application of genomics-based solutions to drive economic growth, improve quality of life, and position Ontario as a global leader.
• Clinical Trials Ontario: With $4 million over two years, this non-profit organization strengthens and promotes Ontario’s competitive advantages in conducting high-quality clinical trials.
• The Fields Institute: Granted $4 million over two years, this renowned centre for mathematical collaboration and innovation fosters significant contributions to mathematics and its applications.
• Compute Ontario: Receiving $3.16 million over two years, Compute Ontario coordinates provincial and federal investments in the digital research infrastructure ecosystem, supporting over 6,000 researchers across Ontario.

These institutes have established strong collaborative networks across various sectors, including life sciences, finance, agriculture, quantum computing, and information technology. Their work is pivotal in cutting red tape, delivering programs to commercialize research, and addressing complex problems that benefit the province.

In addition to fostering innovation, this funding will support outreach programs and provide experiential learning opportunities for students, further enhancing Ontario’s highly skilled workforce and attracting more individuals to Science, Technology, Engineering, and Math (STEM) fields.

The research sector’s role as a key source of innovation and commercialization underpins Ontario’s global competitiveness and productivity. This strategic investment is set to nurture a skilled labor force and stimulate new business opportunities, cementing Ontario’s position as a leader in research and innovation.

GTA Today will continue to monitor developments and provide updates on the impact of this landmark investment on the Greater Toronto Area and beyond.