Ontario releases details on R&D and innovation funding

The Ontario government is beginning to provide some detail on recent funding announcements for research, innovation and commercialization. The long awaited request for proposals for the Ontario Research Fund (ORF) will be posted June 6 on the web site of the Ministry of Economic Development and Trade. The ORF combines the former Ontario R&D Challenge Fund and the Ontario Innovation Trust. In addition, the province has reaffirmed that the ORF will dispense $217 million to support direct and indirect research costs and $300 million in provincial matching funds for the federal Canada Foundation for Innovation. Following up on last month’s Budget (R$, May 18/05), the province will provide $25 million to the Council of Ontario Universities to create new research chairs. The selection process for which universities will receive the chairs funding is expected to take one year. Over the next five years, Ontario is injecting $6.2 billion into the post-secondary education system, allowing an additional 14,000 students to pursue graduate studies. The funding includes $100 million for endowments for outstanding graduate students….