Waterloo, ON – January 7, 2014 - Mitacs, a national research and training network, and Communitech, the Waterloo Region’s hub for the commercialization of innovative technologies, have signed a Memorandum of Understanding (MOU) to extend their partnership to foster innovation and commercialization in southern Ontario.
In the first year of the Communitech and Mitacs partnership, over $1.1 million in funding was awarded to Waterloo Region technology companies.
Under the terms of the MOU, the organizations will work together to connect Communitech member companies with the suite of Mitacs research programs. Communitech will promote Mitacs programs to companies while Mitacs business development team will work closely with these organizations to connect them with appropriate university-based research expertise by way of faculty members, graduate students and postdoctoral fellows.
“Through our partnership with Mitacs, Communitech member companies have gained access to world class research talent, helping them develop more innovative products and grow their businesses.” said Iain Klugman, CEO of Communitech “I’m proud to announce that this productive partnership will continue to strengthen the technology cluster in Waterloo Region.”
“It is with pleasure that Mitacs extends its relationship with Communitech, a leading Canadian technology association.” said Eric Bosco, Chief Business Development & Partnerships Officer for Mitacs. “By working together, we will further enhance Waterloo’s vibrant technology sector through new industry – university collaborations.”
Founded in Waterloo Region by a group of dedicated entrepreneurs in 1997, Communitech is the regional hub for the commercialization of innovative technologies, supporting and building a tech cluster of nearly 1,000 companies that generates more than $30 billion in annual revenue.
A member of the Ontario Network of Excellence, which is funded by the Ontario government, Communitech supports tech companies at all stages of their growth and development—from startups to rapidly-growing mid-size companies, to large global players. Its goal is to create greater numbers of successful global businesses for Ontario and Canada.
Through unique research and training programs, Mitacs is developing the next generation of innovators with vital scientific and business skills. In partnership with companies, government and academia, Mitacs is supporting a new economy using Canada’s most valuable resource – its people. For more information on Mitacs, please visit www.mitacs.ca or contact Megan Airton-Cindric at firstname.lastname@example.org.
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