Friday, September 4, 2009
Dean Del Mastro, Member of Parliament for Peterborough, today announced that the Greater Peterborough Innovation Cluster will be receiving funding in the amount of $500,000.00 to assist in establishing a biomaterials initiative at Trent University. This investment is being provided under the Community Adjustment Fund (CAF) in Southern Ontario.
"This is a very significant announcement for our riding." stated MP Del Mastro. "The opportunity here is two-fold. Through this funding, we can help to stimulate the local economy through infrastructure building and creating new jobs for highly skilled research scientists. That is the immediate benefit. The funding will also be used to facilitate private sector partnerships designed to stimulate commercialization of research activity.”
“The biomaterials initiative will facilitate the Innovations Cluster’s work in attracting commercial investment in research activities being undertaken at Trent University and across the country. It will potentially lead to new products and processes which will provide important benefits to Canadians and others around the globe.” said Andy Mitchell, President and CEO of the Innovation Cluster.
“Trent University is in the early stages of developing new teaching and research expertise in the growing areas of biomaterials science,” says Dr. Neil Emery, Associate Vice President, Research at Trent. “The funding announced today will be leveraged by the Cluster to assist the on-going evolution of the biomaterials initiative at Trent. It also affirms the research intensity that is taking place at our university across many disciplines. Trent thanks MP Dean Del Mastro for this important investment in the Cluster.”
This project was part of the up to $102 million investment made through the Community Adjustment Fund for 2009-2010, announced on August 27th by the Honourable Gary Goodyear, newly appointed Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). It is the government's intention to support a total of 90 projects in communities across Southern Ontario that are struggling with the effects of the global economic downturn.
Approved projects must meet the terms and conditions set out in their funding agreements. A complete list of approved projects in Southern Ontario will be made available online at www.ic.gc.ca/caf on September 10, 2009.
Applications for 2010-2011 CAF project funds will be accepted by FedDev Ontario later this year. A public announcement will be made once details are finalized.
CAF is just one in a series of initiatives introduced in the Government of Canada’s Economic Action Plan designed to address the short-term effects of the economic decline on communities across Canada, while preparing our communities for long-term growth. For more information on Canada’s Economic Action Plan, please visit www.actionplan.gc.ca.