Since its establishment in 1985, the Institute has gained an international reputation for the quality of its work and its solid scientific achievements. Thanks to leading-edge facilities, including a 200-metre towing tank, a 75- by 32-metre offshore engineering basin, and a 90-metre ice tank, the National Research Council has helped commercialize vessel prototypes, marine safety technologies, simulation software and more. Ongoing research projects mean that Canada is well-positioned to compete in the rapidly growing international market of ocean technologies.
St. John’s is home to a vibrant and highly innovative cluster of more than 50 ocean technology companies, which are an important part of Newfoundland and Labrador’s economy. Bringing together top researchers from industry, academia and government, technology clusters also draw critical masses of capital and entrepreneurial drive, providing the ideal environment for businesses to flourish.
With support from the National Research Council, companies such as Virtual Marine Technology, a global provider of small craft training simulators, and Mad Rock Marine Solutions Inc., an innovator in marine evacuation technology, will continue to generate positive economic spin-offs throughout the province and the country for years to come.
Year 2 of Canada’s Economic Action Plan invests close to $1.4 billion in initiatives to promote science and technology, and innovation. This builds on an unprecedented federal investment of nearly $5 billion in Year 1 of Canada’s Economic Action Plan. Our Jobs and Growth Budget provided $135 million over the next two years to build on the success to date of the cluster initiatives in developing networks of innovative business, National Research Council scientists and communities.
Since 2006, the Harper Government has invested $400.7 million in National Research Council clusters including $135 million through Budget 2010. Since 2006, the Harper Government has invested $76.2 million in the National Research Council Institute for Ocean Technology. This includes $75.863 million provided through various National Defence, Defence Research and Development Canada, Transport Canada, Natural Resources Canada, Fisheries and Oceans Canada and Canadian Coast Guard programs, as well as $343, 000 in funding under Canada’s Economic Action Plan for deferred maintenance and $37,000 from the Federal Contaminated Sites Action Plan..
For more information on the Institute for Ocean Technology, please visit the National Research Council’s website: http://www.nrc-cnrc.gc.ca/eng/index.html