Kitchener, Ontario – March 30, 2012 – Miovision Technologies Inc., hosted The Honourable Gary Goodyear, Minister of State for the Federal Development Economic Agency for Southern Ontario, for a post-Federal Budget announcement speech that highlighted the need for more research and innovation in Canada.
Minister Goodyear praised Miovision and other tech companies in the Waterloo region on their successes, and stressed the need to “make sure that all businesses in the country have that same kind of innovative, innate skill.” Minister Goodyear emphasized that other Canadian businesses should “do what you’re [Miovision is] doing”: become more innovative and understand customers’ needs, and do research. He further voiced the necessity for research results to be applied beyond the scope of job creation and economic security; to translate those research results into improving the quality of life for people around the world.
According to the OECD (Organization for Economic Co-operation and Development), Canada is ranked #18 in the world for business expenditures on research and development. In his speech, Minister Goodyear spoke of how the Federal Government will look to improve that ranking through the Economic Action Plan 2012, and its initiatives of doubling the funding of the Industrial Research Assistance Program; refocusing the National Research Council to become more business-facing to help commercialize research for global markets; and adding $400 million in venture capital and $100 million to the BDC (Business Development Bank of Canada).
These initiatives align with the 2012 Budget’s theme of ‘entrepreneurs, innovation, and increased global competitiveness’, and as stated by Minister Goodyear, its goal to “further unleash the potential of Canadian businesses and entrepreneurs to innovate and thrive in the modern economy.”
Minster Goodyear closed his speech by reiterating the Federal Government’s dedication to science, technology and innovation, and the commercialization of products and services, such as those developed by Miovision and other organizations in the Kitchener-Waterloo-Cambridge region.
About Miovision Technologies
Based out of Kitchener, Ontario, Miovision is a technology organization that creates intelligent traffic data collection solutions to address challenges facing today’s transportation networks. Miovision also has a European office in Cologne, Germany and boasts customers across 5 continents and in over 30 countries. For additional information about Miovision, visit the company page at www.miofrench.wpengine.com
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