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New federal dollars are expected to make a successful Ontario program even more successful. The new Centre for the Commercialization of Research was announced earlier today at IBM’s Kanata offices on Palladium Drive.

“This kind of investment builds a stronger economy for the future,” said Minister of State, Science and Technology, Gary Goodyear. “We get that.”

The minister said the money invested in getting technology research to a marketable stage – $195 million over two years across the country – “will provide a long-term economic advantage for Canadians.”

The federal government is now funding 11 centres for commercialization across Canada. Industry Canada chose to fund an existing Ontario program – the Ontario Centres for Excellence Inc. – as this province’s hub for entrepreneurs hoping to launch a new company, or for existing businesses that may want to develop a new product.

“(OCE) bridges the gap where plans often fail,” said CCR chair Mark Chamberlain. Another speaker called it “critical to our future as a country,” as new products and new people “stir the pot of innovation.”

OCE has quietly had success on a grand scale in Ontario.

President and CEO Mark Romoff said his non-profit Ontario centre helped establish 38 companies in the past year.

OCE can provide modest startup funds of $500,000, but it may be the vetting process and networking that sparks the most success. Once an idea lands at OCE, experts consider the marketability of the plans and – if the concept is acted on – match up the development needs with universities. Because the OCE staff have gone over the idea with a fine-tooth comb, venture capital is easier to come by when production dates are set.

“We want them to develop new technologies and take them to market,” said Romoff. “We make sure they’re ready for prime time.”

Last year, OCE dished out $24 million, and industry kicked in another $36 million to get new ideas into production.

“We’re very proud of that,” Romoff said.

As plans are developed and research is carried out, a unique mix of industry people and university students allows both groups to learn about each other.

“Some of the students move over to those companies, and the companies get these new and talented employees,” Romoff said.

LONG-TERM VISION

Goodyear spoke with the Kourier-Standard following the press conference. He was asked if research dollars might be an early casualty of spending cuts, if a recession deepens and the federal government starts to fret about its short-term finances.

“You have to worry about today, but you also have to look at tomorrow and the future,” Goodyear said. “Companies that cut research and development usually pay the price for those bad decisions down the road.

“Given that Canada is better off than other countries, we’re extremely well-positioned to plan for the future.”

While the new federal money may allow OCE to broaden its offerings to people with good ideas, Goodyear said OCE’s proven track record – it has existed since 1987 – means Ottawa won’t seek any drastic changes in the way the centre operates.

“There may be more priority on the commercialization aspect,” he said. “But we know this (investment) ends up with job creation.”

For information on OCE and how to apply for assistance with commercialization, visit www.oce-ontario.org.