March 23, 2011
INO delighted with a confirmed $45 million in federal government funding over five years
Quebec City, Canada - Institut national d’optique (INO) management and staff were delighted by Finance Minister James Flaherty’s confirmation of $45 million in funding over five years, part of the 2011–2012 federal budget delivered today. This confirmation follows a preliminary announcement made by Josée Verner, Minister responsible for the Quebec City Region, on March 11.
Jean-Yves Roy, the INO president and CEO, is thrilled with this show of support from the federal government. “This five-year agreement will make it possible for INO to undertake projects that deliver high value-added innovation benefiting businesses in Québec and the rest of Canada.”
This funding, to be invested in the greater Quebec City area, is more than just a recognition of INO’s past success: it is also a token of the current government’s trust both in INO’s business model and its ability to make Canadian business more competitive by providing innovation with immediate market potential.
This funding will help INO maintain its position as a world-leading applied research center in optics-photonics and shore up the Quebec City area’s status as an internationally recognized center of excellence in the field.
About INO
A leading technology designer and developer, INO is the largest center for industrial optics and photonics expertise in Canada. The leader in its field internationally, INO has so far completed over 4,500 custom R&D contracts for Quebec and Canadian companies working in a variety of fields. INO has performed 43 technology transfers that have resulted in the creation of 26 new high tech startups. It boasts more than 235 employees, most of them researchers, scientists, and technicians who contribute to INO’s international reputation.