R&D gets $80M boost in New Brunswick

Fredericton, NB – In a recent address, New Brunswick premier David Alward  announced $80-million in funding to support innovation and research and development in the province.

“Innovation is the foundation of our growing economy,” he said, in his annual address to the Fredericton Chamber of Commerce. “It is the key to increasing productivity in every sector, from industrial manufacturing to natural resource development.”

The funding is being provided over a five-year period to support:

additional research and development capacity;

mentorship and acceleration programming in regional and industry groups;

scholarships for graduate students to increase talent in key disciplines for the province;

measures to encourage the hiring of research technicians and assistants for research;

co-op initiatives within the post-secondary community to increase student interaction and exposure to a wide array of disciplines; and

tools to facilitate and foster a closer relationship between industry and university researchers to better meet research and development needs.

“The NBIF will work with industry and research institutions to become the catalyst for enhancing research and innovation activity in our province,” he said.