Mr. Speaker, the past decade has clearly demonstrated the major impact innovation can have on the strength of the economy.
When we think about innovation we often think about universities or research and development labs at large companies. However, innovation can occur in other places such as small businesses or colleges.
To showcase the innovations that might come out of these prolific sources, this government has mobilized partners and committed the necessary funds: some $3.6 million. Together with the Natural Sciences and Engineering Research Council and the Association of Canadian Community Colleges, an initiative was launched to help innovations get a foothold in the market.
Participating colleges could receive as much as $600,000 over three years to work with the private sector in order to market innovations quickly.