Industrial Research and Innovation Fund projects announced
Twenty projects from Memorial University received funding from the provincial government’s Industrial Research and Innovation Fund, including a project of Dr. Beverley Diamond, Canada Research Chair in Traditional Music/ Ethnomusicology.
Kathy Dunderdale, minister of Innovation, Trade and Rural Development, announced funding for 20 projects under the Industrial Research and Innovation Fund at a news conference Oct. 29 at the St. John's Arts and Culture Centre. The goal of the fund is to enhance research and industrial innovation within higher education and public research institutions in the province. The Government of Newfoundland and Labrador has allocated over $3 million from the Industrial Research and Innovation Fund to the 20 projects. The total value of the projects is approximately $15 million. “We want to leverage additional research and development investments from federal granting agencies,” said Ms. Dunderdale. “We need to build our research and development capacity as a means to increase innovation and commercialization of technologies. This strategy will help transform our economy through the adoption and use of innovation.” “The creation of this fund signals the increasing importance that the provincial government places on supporting research and development,” said Memorial President Dr. Axel Meisen. “Memorial is committed to growing its research activity and ensuring that research results are introduced into practice and commercialized. This will be vital to the success of the province's emerging innovation strategy.” The Industrial Research and Innovation Fund supports research and development investments in targeted, high-growth clusters offering significant long-term economic development potential in such areas as advanced manufacturing, marine technology, biotechnology, pharmaceutical research, value-added natural resources, and the oil and gas industry. A list of Memorial's research projects funded can be seen at www.gov.nl.ca/releases/2004/itrd/1030n01.htm.