Ladies and gentlemen, thank you for the opportunity to appear before the committee.
I'm here as chair of Canada's U15 group of research-intensive universities, a role I fulfill in addition to my role as president of the University of Waterloo.
As you may know, this is the second time our organization has appeared before the committee. The first instance was an appearance last year by my colleague Elizabeth Cannon, U15 vice-chair and president of the University of Calgary, to advance our proposed advantage Canada research excellence fund. I would again like to thank the Government of Canada for delivering on this recommendation by way of the Canada first research excellence fund in budget 2014.
Canada's U15 universities serve as a collective voice of Canada's research-intensive universities, representing $5.3 billion in university research undertaken annually in Canada. Our role is to advocate for the provision and sustainability of a robust environment for Canada's research-intensive institutions, as these universities deliver immense value for Canada through knowledge creation and innovation, and through partnering with government and industry to give Canada's economy a competitive edge in the global marketplace.
U15's intent in appearing before the committee today is not to deliver a specific ask to the panel's members. Rather, our goal is to emphasize the achievements resulting from Canada's support for our overall research and innovation ecosystem. This is the ideal venue to do so, as it is fundamental to the committee's mandate of considering how Canada can increase competitiveness through knowledge mobilization, increase the global reach of Canadian businesses, and build new national digital competitive advantages.
I would like to emphasize that over the last several years, Canada's research-intensive universities have undertaken critical steps to better align our research environment with other national priorities, including government and private sector needs. We have delivered on this while steadfastly preserving our perspective that universities are knowledge creators and educational facilities first and foremost.
Canada's research-intensive universities' biggest contribution to the country's innovation ecosystem and to knowledge mobilization is the development of a talented and innovative workforce. U15 institutions alone graduate more than 110,000 people annually, including more than half of Canada's master's degree holders and more than 75% of its Ph.D.s. These graduates find employment with many Fortune 500 companies, in upcoming SMEs across all sectors that are on the cutting edge of developing new technologies, in all levels of government, and in the not-for-profit sector.
Businesses turn to research-intensive universities to help them develop new products and services through faculty consulting, the use of the state-of-the-art facilities available on our campuses, and contract research. U15 institutions conduct more than 80% of private sector contracted university research in Canada.
World-class research excellence is what also allows U15 institutions to create critical international networks and opportunities, and to serve as national strategic assets in helping Canadian businesses to compete. Research-intensive universities develop rich international networks of students, alumni, faculty, researchers, and institutions through research collaborations and partnerships, and through student, faculty, and researcher mobility.
These global networks and the export of research services strengthen and spread Canada's brand as a leading knowledge economy and can create channels for Canadian businesses to take their products and services into new markets.