$80 Million To Be Invested In Innovation

An $80-million investment in innovation and research and development as well as the naming of the co-chair of the New Brunswick Research and Innovation Council highlighted the state of the province address by Premier David Alward.

“Innovation is the foundation of our growing economy,” said Alward in his annual address to the Fredericton Chamber of Commerce this evening. “It is the key to increasing productivity in every sector, from industrial manufacturing to natural resource development.”

As part of its innovation agenda, the Province of New Brunswick is investing $80 million over a five-year period to support:

●    additional research and development capacity;
●    mentorship and acceleration programming in regional and industry groups;
●    scholarships for graduate students to increase talent in key disciplines for the province;
●    measures to encourage the hiring of research technicians and assistants for research;
●    co-op initiatives within the post-secondary community to increase student interaction and exposure to a wide array of disciplines; and
●    tools to facilitate and foster a closer relationship between industry and university researchers to better meet research and development needs.

“The NBIF will work with industry and research institutions to become the catalyst for enhancing research and innovation activity in our province,” he said.