Ontario Centre of Innovation and New Jersey Institute of technology partnering to advance AI, Life Sciences, Health Solutions, and Advanced Manufacturing Innovation

September 09, 2024

Building on longstanding cross-border ties between the Province of Ontario and the State of New Jersey, OCI and NJIT will foster innovation across key sectors to drive economic growth

Toronto, ON (September 9, 2024) – Today, the Province of Ontario and the State of New Jersey, through the Ontario Centre of Innovation (OCI) and the New Jersey Institute of Technology (NJIT), signed a Memorandum of Agreement (MOU) announcing a new partnership built on a shared vision to foster innovation across key sectors and drive economic growth. With a focus on advancing innovation in AI, life sciences, digitizing health solutions, and advanced manufacturing, the partnership will strengthen both jurisdictions’ leadership in the global market.

“Having attracted tens of billions in technology investments over the last three and a half years, Ontario has proudly established itself as one of the largest and most sought-after tech hubs in North America,” said Vic Fedeli, Ontario’s Minister of Economic Development, Job Creation and Trade. “As we look to the future and continue strengthening our economic ties with the U.S., this collaboration between OCI and NJIT will be pivotal in fostering conditions for growth and innovation, helping unlock the opportunities of tomorrow on both sides of the border.”

This new bilateral relationship between OCI and NJIT enhances the shared commitment of Ontario and New Jersey to support local startups and small- and medium-sized enterprises, attract investment, incubate talent, and cultivate engagement with the innovation ecosystem. These efforts will be driven by OCI’s pan-provincial approach to supporting the commercialization of innovative technologies and fostering connections with industry, government, and leading postsecondary institutions. Additionally, this partnership will be pivotal in expanding both jurisdictions’ capacity to supporting entrepreneurs in exploring cross-border expansion and building investment opportunities.

“We are thrilled to embark on this groundbreaking partnership with the New Jersey Institute of Technology, which will accelerate innovation across some of the most critical sectors shaping our future,” said Claudia Krywiak, President and CEO of the Ontario Centre of Innovation (OCI). “By combining Ontario’s robust innovation ecosystem with New Jersey’s cutting-edge technological expertise, we are not only driving economic growth but also creating new opportunities for startups, SMEs, and entrepreneurs on both sides of the border. This collaboration underscores our commitment to fostering cross-border innovation that will position Ontario and New Jersey as global leaders in AI, life sciences, health solutions, and advanced manufacturing.”

“This MOU with the Ontario Centre of Innovation represents a significant step forward in fostering cross-border collaboration in key areas of technology and innovation,” said Dr. Teik C. Lim, President of NJIT. “At NJIT, we are committed to driving economic growth through innovation and research. By partnering with OCI, we are not only supporting startups and SMEs in New Jersey but also creating a bridge for knowledge exchange and commercialization opportunities that will benefit both regions. Together, we will accelerate advancements in life sciences, AI, digital health, and advanced manufacturing, shaping a future of shared prosperity.”

As part of this collaboration, both regions will identify opportunities for networking, cooperation, and growth across common fields of interest. Key drivers of this partnership include sharing technological expertise and commercialization activities, facilitating investment discussions, co-hosting bilateral and multilateral meetings and events, and cross-promotion of initiatives.

“Ontario continues to be at the forefront of innovation and has established itself as a world leader in commercializing new cutting-edge technologies from AI to MedTech,” said Raed Kadri, Vice President, Strategic Initiatives, Business Development and Head of the Ontario Vehicle Innovation Network (OVIN) at OCI. Building on our long tradition of cross-border collaboration with the U.S., this partnership with the State of New Jersey and NJIT is integral to strengthening both jurisdictions’ leadership in fostering the essential conditions for economic growth.

With two-way trade between Ontario and the U.S. valued at around $500 billion in 2023 and similar partnerships with other states including Illinois, Indiana, and Michigan recently announced, this agreement between OCI and NJIT is a pivotal step in strengthening cross-border collaboration in order to advance the commercialization of technologies and economic growth.

Media Contact
Alicia Pereira
apereira@oc-innovation.ca

About the Ontario Centre of Innovation
The Ontario Centre of Innovation (OCI) brings industry, academic, and government partners together to invest in collaborative R&D, technology development, and commercialization opportunities that generate the highest return on innovation for Ontarians.

As an ecosystem connector, OCI initiates unparalleled partnership opportunities, develops, and manages successful industry-academic collaborations, supports high-potential SMEs in commercializing ground-breaking research, and provides hands-on training and skills development opportunities for the next generation of highly skilled talent.

OCI drives economic growth and job creation through investments in the development, commercialization, and adoption of advanced technologies.

For more information: https://www.oc-innovation.ca