Government budget week announcements align with UOIT strategic plan

The University of Ontario Institute of Technology (UOIT) joins its counterparts in welcoming new federal and provincial initiatives announced during budget week that support the financial needs of students and the continuum of university research efforts in Canada.

"As one of Canada’s newest research universities, the University of Ontario Institute of Technology is focused on innovation in research and education that responds to the science and technology strategies that will help position Ontario and Canada as world leaders in research,” said President Tim McTiernan. "New investment in innovation supports our mission to drive research aimed at emerging public policy challenges like advanced manufacturing, the development of sustainable energy production, and the evolution of digitally enabled and socially inclusive smart communities.”

On April 21, the Government of Canada announced its investment of $1.5 billion in research and innovation funding. This includes support for research infrastructure through the Canada Foundation for Innovation as well as new support for Canada’s federal granting councils: the Natural Sciences and Engineering Research Council (NSERC), the Social Sciences and Humanities Research Council (SSHRC), and the Canadian Institutes of Health Research (CIHR). 

The budget announcement also made specific reference of UOIT’s connection to the Canada Accelerator and Incubator Program (CAIP). UOIT joins with Ryerson University in Toronto, Ontario, and Simon Fraser University in Burnaby, British Columbia in sharing the $10.6 million Zones of Incubation and Innovation (ZI²) program. CAIP funding supports UOIT students to develop entrepreneurial knowledge and skills, and build and take new companies to the market place.

The Province of Ontario announced its budget plan on April 23, which included additional supports for post-secondary students. Students will benefit from extensive changes to the Ontario Student Assistance Program (OSAP), including the indexing of Ontario student aid levels to inflation and an end to a requirement to report their vehicle as an asset when being assessed for aid. Also of benefit is the renewal of the Ontario Youth Jobs Strategy with an additional $250 million over two years, including an extra $5 million in funding for the Postsecondary Education Fund for Aboriginal Learners as well as support for new on-campus accelerators.

“An investment in our students, is an investment in our future,” said President Tim McTiernan. “Many University of Ontario Institute of Technology students receive, or are in need of, some sort of financial aid. The OSAP changes and support for Aboriginal learners will help alleviate some of the financial burdens students are faced with, allow them to focus on their studies and enjoy all of the opportunities and experiences university has to offer.”