TORONTO – IBM is at the helm of a new Ontario-based $210 million research and development initiative set to address issues ranging from healthcare to water conservation to problems facing cities.
Backed by a consortium of seven universities led by the University of Toronto and Western University, IBM will invest up to $175 million through December 2014 in the project, the Ontario government will kick in $15 million, and the federal government will contribute $20 million towards the new IBM Canada Research and Development Centre.
This collaborative model will help university and industry researchers use high performance and cloud computing infrastructure to better manage and analyze massive data sets to solve critical world challenges such as rapid urbanization and aging infrastructure; healthcare challenges associated with rising healthcare costs due to chronic diseases, including afflictions of the brain, and the lengthy development cycle for new medicines; water conservation and management within cities and across watersheds including wild areas, industrial and agricultural use; efficient energy conservation and management through the application of advanced weather modeling and smart grid technologies; and software innovation in high performance computing platforms.
In addition to creating 145 jobs, the collaborative model and day-to-day interaction is expected to accelerate commercialization opportunities and strengthen Canada’s digital infrastructure, the announcement continues. Other Canadian researchers and small to medium-sized enterprises will also be invited to join the consortium.
