Meshing the innovation gears between industry and academia

Innovation is the lifeblood of every economy.

Innovation creates new products and services. It improves processes, increases productivity and generates efficiencies. It responds to challenges such as climate change, pandemics, international competitiveness, and the ever-changing requirements of dynamic societies.

Small and medium enterprises are the engines of the economy.

According to the federal department of Innovation, Science and Economic Development Canada, small and medium enterprises accounted for 99.8 percent of all businesses in 2021 and employed almost 90 percent of the private labour market. Between 2020 and 2021, SMEs were responsible for more than 85 percent of all new job creation.

And yet, despite their pivotal role in the economy and the imperative that exists for SMEs to also power innovation in Canada, a 2023 Statistics Canada study found that only two percent of Canadian businesses invest in research and development.

eCampusOntario, the organization that convenes Ontario’s colleges, universities and Indigenous institutes and supports government priorities, industry needs and the voice of learners, earlier this year launched a new platform to address this very challenge.

The Ontario Collaborative Innovation Platform is the clutch that meshes the gears between private industry and the public postsecondary sector, accelerating collaboration between them. Leveraging the research and development capabilities that exist at our colleges, universities and Indigenous institutes, OCIP creates a receptive environment in which businesses and public institutions can articulate what they need and Ontario schools can respond to those needs.

OCIP matches Ontario companies and other organizations seeking to develop new technologies and processes with the province’s postsecondary institutions that have the capacity to meet those needs. The objective is to drive technological innovation in the province, increase productivity, upskill the workforce and grow the economy.

The partnership between industry and academia delivers tangible benefits to both participants while also improving Ontario’s ability to compete globally. Businesses, governments, not-for-profits – any project requestor – can find solutions to their innovation challenges and support for their investment in innovation. Ontario postsecondary institutions, home to some of the best and most advanced applied research capabilities in the world, can bring their expertise to real-world problems. Both partners benefit from better access to direct funding opportunities and tax credits, and the creation of new intellectual property.

Cutting-edge research and innovation are core ingredients for a thriving, globally competitive economy and also help produce the breakthroughs that lead to healthier lives and communities. Ontario’s universities, colleges, and Indigenous institutes play a key role in producing ground-breaking and impactful research and innovation.

From engineering and science labs to advanced testing and prototyping facilities, to design and process improvement, postsecondary institutions across Ontario have faculty experts, specialized equipment and students engaged in some of the most advanced research in the world.

OCIP opens up a world of opportunity to bring that research to bear on real-world problems. For more information, please go to: https://ocip.ecampusontario.ca/