Ontario Budget funds education, applied research

Yesterday's budget by the Ontario government included good news on the education front for college and university students (Alex Usher has a very good analysis here). It also includes new funding for college applied research, in addition to investments in Ontario's innovation economy more broadly. The government announced new $20M applied research funding to support colleges and industry:

• Establishing a three-year, $20 million fund that connects colleges and private-sector employers on applied innovation projects that result in breakthrough products and services for sale at home and abroad.

This is important news and a validation of the outcomes that college applied research achieves. In addition to this there is a host of other research funding for the innovation system, from auto and aerospace to clean and green technologies, all designed to aid firms in starting up and scaling up to be globally competitive. This is a very forward thinking budget that will enable colleges, polytechnics and universities to better link with private sector partners in support of innovation across a range of important industrial sectors.