Toronto Region ICT Innovation Ecosystem Ready For R&D Investment

Toronto Region ICT Innovation Ecosystem Ready For R&D Investment  

 
   

Friday, September 02, 2011:  The Toronto Region is Canada's largest information and communications technology (ICT) cluster and one of the top four in North America according to a new report published by the Toronto Region Research Alliance (TRRA). Information and Communications Technology in the Toronto Region is the first in a series of regional innovation cluster reports designed to highlight the strengths of key research-intensive sectors in which the Toronto Region has a particular advantage.

“This report is the first comprehensive summary of the Toronto Region‟s ICT cluster that focuses on the three pillars that drive innovation – industry, academic and research activity. These findings identify the advantages of the Toronto Region when it comes to attracting foreign investment in ICT-related research and development,” says Patrick Draper, president and CEO, TRRA.


“The McGuinty government recognizes the importance of the digital media and ICT sector,” said Glen Murray, Minister of Research and Innovation. “By investing in and supporting both large research institutions and small start-ups, we‟re helping to ensure that our best ideas and innovations continue to flourish in Toronto and across Ontario.”

With a population of 7.4 million, the Toronto Region is the fourth largest urban centre in North America. The broad geographic area is anchored by the City of Toronto and surrounding regions of GTA, Guelph, Hamilton and Waterloo. The ICT report highlights the region‟s current strengths, including:
 Industry: At $54 billion in estimated revenue, the ICT sector is a key economic driver in the region. The sector consists of 13,000 companies (35% of the Canadian total), and the third-largest number in North America after New York and Los Angeles. There are 125,000 people employed in ICT-related jobs, the fourth-largest number in North America after New York Washington and San Francisco. The average salaries for typical ICT jobs in the Toronto Region are lower than comparable ICT clusters in North America.

 Academic: The region‟s eight universities and nine colleges offer more than 100 ICT and engineering programs and produce 8,000 graduates annually. The University of Toronto and University of Waterloo are recognized among the top universities in the world for ICT and engineering (ranked 14th and 39th respectively); their tuition costs are significantly lower than similarly ranked US universities.  Research: In the last decade, Toronto Region universities received $333 million (30% of national total) of ICT-related research funding from national granting councils. One-third (37) of the country‟s Canada Research Chairs in ICT are based in the region. The Toronto Region is one of only four regions in the world, along with Boston, Tokyo and London, to rank in the top 10 for number of ICT-related publications and citation impact. The region‟s patent output increased faster than the world average and is among the top 10 global regions (2001-2010).

Markham-based IBM Canada has a long-standing presence in the Toronto Region and recognizes the advantages the region offers in this highly-competitive global economy.

”The Toronto Region‟s large and productive concentration of research and development talent serves as a portal to global markets and institutions,” said Bruce Ross, president, IBM Canada Ltd. “This innovation investment will be critical to helping improve Canada‟s productivity and competitiveness in the 21st Century.”

With its robust industry presence, competitive cost structure, educated workforce and R&D excellence, the ICT cluster is well-positioned for future growth:
 Canada‟s privacy policy favours the growing cloud computing sector (as does the colder climate).
 Industry giant Research in Motion and numerous fast-growing start-up companies are fuelling the growth of the mobile sector.
 With exceptional talent in film, animation, visual effects and video gaming, the digital media sector can build on its reputation as „Hollywood North‟.
 Green ICT has the potential to develop innovative technology solutions to help achieve sustainable development goals and support Ontario‟s green economy.

“A tradition of innovation, a strong and diverse cluster and a fertile environment for future growth make the Toronto Region an ideal destination for R&D investment in ICT,” says Draper.