As many of the
founders we talk to tell us, a key differentiating factor of
Canada's economy is the country's remarkable postsecondary
system, which provides entrepreneurs with a continuous pipeline of
new research and great talent. A massive new research investment by
the Government of Canada announced last week is further fueling some of
the research driving the Canadian startup scene.
The $900-million Canada First Research Excellence Fund
will strategically invest in leading-edge research areas at 13
national postsecondary institutions. For example, University of
Waterloo will receive over $76 million for a quantum technology
initiative that brings together theoretical and experimental
physics, computer science and engineering to enhance technologies
that can be applied to medicine, communication and quantum
sensation, as well as to help develop a universal quantum
The potential practical applications of the Waterloo investment
are even more exciting due to the industry resources available in
the region, such as Quantum Valley Investments, a new fund
developed by Blackberry founder Mike Lazaridis that invests in the
commercialization of quantum technology.
Ontario startups and their peers across the country will
undoubtedly be taking advantage of both the research and the talent
that is stimulated by this federal investment – it's
another example of how collaboration between government, education,
industry and finance is helping to develop Canada into a
world-leading hub for 21st-century growth companies.
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