$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.