N.B. Will Invest More Than $53-Million On Innovation, R&D
SAINT JOHN – The New Brunswick government is investing more than $53.5-million to boost innovation and research and development (R&D) in 2018-2019, the Treasury Board President announced Wednesday.
“This investment and the new innovation agenda support our multi-year economic growth plan to grow the economy and create job opportunities for New Brunswickers by building on the strength of our highly skilled workforce, world-class education system, and internationally recognized research community,” said Treasury Board President Roger Melanson in a release.
Melanson made the announcement on behalf of Premier Brian Gallant, the minister responsible for innovation.
He also released the New Brunswick Innovation Agenda, which outlines the government’s role in fostering an innovative economy. This includes everything from stimulating early-stage research and creativity to making sure business-driven innovation is a key part of government strategy moving forward.
The agenda has six pillars aimed at fostering an innovative culture in the province. They include:
- Growing innovators – Expanding the province’s innovation-related talent pool, including the number of students at all levels that are engaged in STEM;
- Boosting R&D capacity – Making sure research leveraging ratios remain strong with increased investment, building competitiveness to attract graduate students, and encouraging R&D partnerships;
- Commercializing, starting and scaling up enterprises – Growing the number of scale-up businesses beyond 10 workers in key export-based industries;
- Fostering innovation spaces – Ensuring the right innovation infrastructure are in place, including labs and broadband incubators, and increasing the number of social enterprises;
- Lead the cybersecurity agenda in the country – Conducting innovative research and continuous improvement so critical infrastructure organizations will run and provide services securely and efficiently, and building scale and capacity to support business growth, workforce development and high-value career opportunities in cybersecurity; and
- Becoming a smart province – Being the first digital society in North America.
“The desire for innovation is within our citizens. It is within our civil service, within our teachers and students, and within our businesses,” said David Alston, New Brunswick’s chief entrepreneur in residence. “It is awesome to see more resources being invested in these areas to inspire the next generation of innovators and entrepreneurs.”
Doug Jenkins, the president of tech firm iSpire and co-founder of co-working space ConnexionWorks, said he sees firsthand the impact of such initiatives.
“Our province has a history of innovation, brilliant people and exceptional skills,” he said.
“Support in fostering innovation with our people has a major impact on growth for both new and mature businesses in New Brunswick. At ConnexionWorks and iSpire, we have an impact on many of these pillars and we look forward to seeing how further partnership with the government can help improve our ability to grow innovation in the province.”
The announcement came ahead of the fourth annual New Brunswick Innovation Week, set to take place April 29 to May 5.