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June 2007

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 GTMA Activities & Announcements:

GTA Aerospace Value Proposition – Online!

Ontario Technology Corridor Partners Launch OTC Website!

GTMA Helps Polaris Software Launch Global Engineering Lab

GTA News:

Premier and Minister of Research and Innovation Announces New Fund to Stimulate Economic Growth and Environmental Sustainability in Ontario

On June 19, the McGuinty government announced the $650-million Next Generation Jobs Fund to help ensure Ontario keeps ahead of its competitors in the areas of greenhouse gas reductions, energy efficiency and green technologies.

The Next Generation Jobs Fund is a five-year, $650-million strategy that will stimulate economic growth and prosperity in Ontario.  The fund will invest in:

• The manufacturing of green cars and auto parts
• The development of clean fuels, and
• The creation of clean technologies and products.

To bid for financial support, companies will have to demonstrate they can:

• Secure jobs for Ontarians
• Reduce greenhouse gas emissions
• Help establish Ontario as a global leader in an emerging market
• Build on existing expertise in areas in which Ontario has a strong research and commercialization base or create new expertise, and
• Create synergies among researchers, business people and entrepreneurs.
• The fund will provide flexible arrangements that allow for grants, loans, forgivable interest loans, infrastructure building, research and training programs — investment packages will be strategically tailored.
  

Vancouver, a city best known for laid-back living and soggy weather, is the easiest place in the world to do business, a global study of 50 cities says.  The west coast city, along with Toronto and Montreal, were top three in the world in that category because of a "strong national health-care system, excellent infrastructure, low traffic and easy access to public transportation," according to MasterCard International Inc.'s first annual ranking of global cities, to be released today.  While many Canadians might laugh at the notion these cities have "low traffic," they fare well internationally when compared with, say, Mumbai. Its their quality of life that makes the Canadian cities shine on the global stage, said one of the study's researchers. "To come out ahead of the pack...is really an achievement of having some qualities that aren't common," said Maurice Levi, professor of finance at the University of British Columbia's Sauder School of Business.

They excel in the one subcategory, but Canadian cities don't crack the top 10 when it comes to cities driving the world's commerce, according to the study.  It ranked London first overall, saying it outshined New York as the "leading centre of commerce."  Toronto ranks 12th, Montreal 27th and Vancouver 28th, partly because they're smaller and attract less capital in financial markets. Canadian cities can be globally competitive if they maintain their high quality of life and continually improve infrastructure, Mr. Levi said. Rankings could also improve if the banking system becomes more supportive of business startups by extending credit more freely, he added. This study is part of MasterCard's new drive to study how cities shape the global economy. Mr. Levi hopes the survey will help guide companies when they decide where to start or expand their businesses.  Among other findings:

London: The world's "leading centre of commerce" because of a flexible environment for business, strong global financial connections and "exceptionally high" levels of international trade, travel and conferences.

New York: Once the "unchallenged" global financial capital, the Big Apple was hampered as bond market regulations in New York affected the volume of listed sales, and the less stable U.S. economy and weakening currency made it fare less well than London.

Chicago placed second in North America because of its importance for commodities and financial markets.

Eastern and Western Europe continues to see an economic divide. The lowest-ranking Western European city on the list, Rome, scored nearly equal to Budapest, the highest-ranking Eastern European city.

"Asian Tigers:" Hong Kong, Singapore and Seoul all ranked among the top 10, with Seoul's higher education system and patent output helping it lead the pack.

Dubai: The region's air and cargo traffic hub, Dubai also claims a flexible business climate optimal for companies seeking a Middle East presence.

Santiago: Latin America's top centre of commerce, boasting a stable economy, low crime rate and high quality of life.

Source: globeandmail.com

You, Cybernomics and the Environment

First Annual techweek.to a Success!

The first annual techweek.to event that ran from May 28 to June 1, 2007 was a tremendous success. The event brought together more than 25 events to a number of Toronto locations and attracted well over 3,000 participants. The events were hosted by a variety of organizations, including: the Toronto Board of Trade, the Information Technology Association of Canada (ITAC), mesh, the Ontario College of Art and Design, Humber College, Enterprise Toronto, the Toronto Business Development Centre, the Toronto Region Research Alliance (TRRA), MaRS, Profectio and CIPS.

“techweek.to is really about partnership,” Dave Forde, Chair of techweek.to said. “The sponsors and the partners that hosted events were great to work with. It was a super event and everyone had a terrific time. We’re already planning for techweek.to 2008 and would be pleased to talk with anyone who’s interested in helping out. The website www.techweek.to will be updated with new information and notices will be distributed through the techweek.to Newsletter email list. We definitely valued everybody’s contributions and look forward to working with everyone on next year’s event.”

The idea for techweek.to came from a roundtable of ICT industry stakeholders known as ICT Toronto and is part of a larger initiative to help market and promote Toronto as a leading international ICT centre.

The week was launched by Toronto Mayor David Miller and included over 50 prominent speakers at techweek.to events. Media coverage of the event included a special section in the Globe & Mail and articles in ITBusiness and Business Edge.

Techweek.to sponsors included: Workopolis, Radiant Core, the Government of Ontario, the Greater Toronto Marketing Alliance, Industry Canada, IT World Canada, Backbone, Red Herring, CNW Group, Profectio and others.

Stem Cell Licensing Deal Positions Toronto as World Leader in Technology

A $20-million deal announced today to license Canadian stem cell technology in the U.S. underscores the Toronto area's global leadership in stem cell research.  Under the agreement, Tissue Regeneration Therapeutics Inc. (TRT), an emerging Canadian life sciences company, will exclusively license its human umbilical cord perivascular cell (HUCPVC) technology to Stem Cell Authority Ltd. for family stem cell banking in the U.S. The licensing fees and annual minimum royalties will exceed $20-million (Cdn) over the next four years. The technology originated at the University of Toronto and has been offered to the public in Canada since March 2007 through a licensing agreement between TRT and Toronto-based CReAte Cord Blood Bank (CCBB).  more…

The Regional Municipality of Durham, Economic Development and Tourism Department received good news in the form of $20,000 in funding from the Ontario Ministry of Tourism to develop a ‘knowledgeable host’ program in Durham’s tourism industry.

Aristocrat Technologies Selects Mississauga as only Canadian Location

Aristocrat is a world-class gaming company has selected Mississauga as their only Canadian location.  Aristocrat Technologies has leased 3,500 sq. ft. of warehouse space at 1715 Meyerside Dr., Suite 5, because of its central location to service their Ontario customers and nearness to the airport.  Aristocrat Technologies Canada is part of Australia-based Aristocrat Leisure Limited, a leading global provider of gaming solutions, primarily video slot machines, progressive systems, and casino management systems that consistently outperform the competition.  Aristocrat's products and services are available in more than 55 countries around the world. www.aristocratgaming.com

The City of Toronto’s proposed Green Economic Sector Development Strategy positions the city to become a globally recognized green industry hub.  This strategic initiative will support and promote the ability of existing firms in all sectors to invest in technologies and processes as well as the economic growth and success of local environmental companies. 

The strategy and action plan, People, Planet & Profit: Catalyzing Economic Growth & Environmental Quality in the City of Toronto: provides a better understanding of the existing strengths, weaknesses, opportunities and threats in Toronto's green industry and business sector; recommends actions to enhance business competitiveness and stimulate job creation; promotes green business practices to existing companies; and catalyzes innovation and foster environment and clean energy sector development, firm formation, expansion and recruitment.

The study puts forward 10 priority actions, which centre around: stimulating a green market demand; enhancing and leveraging partnerships with existing networks; marketing the Toronto advantage in key economic clusters including environment, and renewable energy technology; leading by example; educating and expanding the workforce; and supporting existing business. This report will be discussed by the City of Toronto, Economic Development Committee on July 5, 2007.

MyThum Interactive Inc. of Toronto has won the prestigious Company of the Year category at the Canadian New Media Awards (CNMA).  The Canadian New Media Awards recognize and celebrate the accomplishments of talented individuals and companies in the Canadian new media industry. This year’s awards considered nominations from companies and individuals representing almost every province in Canada. A selection committee of 127 professionals from private, public, regional and national organizations collaborated online to select the finalists and winners from over 300 nominations. 

Toronto-based individuals and companies dominated the competition receiving 50% of the awards. Other Toronto winners included: Ryan Andal; Matthew Hornburg of marblemedia; Breakthrough New Media; Independent Learning Centre; zinc Roe New Media; Xenophile Media. Adam Froman Founder and Executive Producer of the Awards presented a special recognition award to Sheldon Levy, President and Vice Chancellor Ryerson University.  Chosen by the Toronto Star as one of the “10 to Watch in 2007”, President Levy was acknowledged for his impassioned and proactive commitment to students and scholarship.

MaRS Discovery District and the Canadian Stem Cell Network (SCN) have partnered to pursue long-term financing for the activities currently being undertaken by Aggregate Therapeutics Inc. (ATI) in regenerative medicine, which includes stem cell therapies, tissue engineering, and biomaterials.

The Town of Milton has become the first municipality in Canada to offer system-wide free transit for an extended period of time.

The program was launched on June 1, 2007, and provides free transit service daily, Monday to Friday, between the hours of 9 a.m. and 3 p.m.  “This is an exciting initiative that we hope will increase transit ridership in town,” said Mayor Gord Krantz.  “Transit is an important community service, and the more transit is used, the more we will be able to expand and enhance the service.”

In an effort to stimulate the local economy, provide high level education locally and sustain the quality of life overall, the Town of Milton is offering five acres of land for a college or university to develop a campus in Milton.  The site is located at 560-604 Main Street, between Ontario Street (Highway 25) and Thompson Road, adjacent to the Milton GO Station and near major transportation routes. 

“As a thriving town on the western tip of the Greater Toronto Area, Milton is an ideal place for a college or university,” said Town of Milton Mayor Gord Krantz. “Education is an important aspect of a healthy community.”

Environment Minister Laurel Broten announced the McGuinty government is making LEED the minimum design standard for new government-owned construction and major renovation projects. Minister Broten joined the World Green Building Council to announce the establishment of a new secretariat at Toronto and Region Conservation’s The Living City Campus at the Kortright Centre.  “We’re thrilled that the Council has chosen to locate its secretariat at The Living City Campus at the Kortright Centre,” commented Brian Denney, CAO of Toronto and Region Conservation. “We’re helping to ensure our built environment leads to a sustainable future.”  The read the full text of the press release click on COUNCIL

JetAirways Announces Toronto to India Flights by Summer

JetAirways (India) Ltd. will begin five flights a week from Toronto through Brussels, destined for New Delhi beginning Aug. 23. The Indian carrier aims to deliver daily service by the end of October as part of a major push into North America, said Abraham Joseph, a senior general manager for the airline. more…

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People News :

Ontario has a new Assistant Deputy Minister of Investment and Trade.  William (Bill) Forward joined the Ministry of Economic Development and Trade (MEDT) on June 18, 2007. Most recently, Bill has been Ontario’s Assistant Deputy Minister for the Transport Policy Liaison Office.

Innovators Alliance, a peer networking group for CEOs of fast-growth firms in Ontario, has appointed a new Chairman.  Peter Allen, President of Electrical Contacts Limited, has taken on the role of leader after a seven-year stint as an Innovators member.

Allen is representative of the high-energy entrepreneurs he is leading, growing the top line at Electrical Contacts by 45% in 2006 despite the volatile exchange rate environment.

Coming into his appointment, Allen said: “Innovators Alliance is a group of smart, thoughtful people with a commitment to helping one another be successful.”  As the new leader of Innovators Alliance, Allen seeks to focus on leadership and management skills for CEOs to utilize in maintaining a strong team.  “As CEOs, we succeed or fail based on the commitment, energy, and intelligence of the people we hire.”  This platform represents the direction Innovators Alliance will focus on as they move through 2007.

Durham Region’s Economic Development and Tourism Department welcomed Kerri King as the new chair for the Durham Tourism Leadership Team.

The Durham Tourism Leadership Team is comprised of representatives from the local tourism industry who meet on a quarterly basis. It will play an important role in helping to direct and guide tourism programs and initiatives in the region while maintaining the objectives outlined in Durham Tourism’s new strategy – “A Strategy to Develop the Tourism Industry in Durham Region.”

“We are fortunate to have Kerri as the chair of our Leadership Team,” said Township of Scugog Mayor Marilyn Pearce, Chair of the Finance and Administration Committee for Durham Region. “She is an ‘ideas’ person that we can count on to participate in developing new, successful initiatives that benefit tourism in the region.”

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Upcoming Events:

Power Within Event • October 18

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