The Ontario Liberal government has released its provincial budget for 2018, revealing a strong focus on retaining high level jobs within the technology sector.
The Government has pledged to invest $50 million CAD over the next 10 years to create over 3,600 jobs in a fund it’s calling the “Transformative Technology Partnership Fund.”
The Liberals hope this fund will attract $1 billion CAD in outside investments.
The fund will be used to invest in research aimed at “artificial intelligence (AI), 5G wireless communications, autonomous vehicles, advanced computing and quantum technologies.”
“The Province is creating the Transformative Technology Partnerships Fund to accelerate the development and commercialization of these technologies within the province, creating new jobs and attracting private‐sector investment,” reads an excerpt from the Government of Ontario’s 2018 budget proposal.
The Government states its ambition with this fund is to bring together businesses, technology developers and post secondary research institutions to work together on new products and services.
Source: Government of Ontario