Stimulating economic growth through knowledge mobilization, technology transfer and innovation.
The economic impact of PSIs in Manitoba is significant; they are primary contributors of human capital to Manitoba business and industry, which includes educating and supplying much of the province’s workforce. According to a recent analysis conducted by Research Manitoba, for every dollar invested in research in Manitoba, a $4.77 economic return is realized. The impact extends beyond attracting research investment to the province. It includes employment for researchers, graduate students, and permanent research staff; informs decision-making; and creates new technologies and processes for business, government, and non-profit organizations.
Throughout the province, business and PSIs partner in research and create innovative approaches to providing solutions. Research performed by PSIs has a direct impact on economic success and innovation. The impact extends beyond attracting federal money to the province.
The economic impact of research for Manitoba business, industry, agriculture and social services cannot be underestimated. Economic development benefits stemming from research can be seen through the commercialization of inventions, which at the University of Manitoba alone occur at the rate of about 60 a year. Understanding the economic impact of the post-secondary sector will help to inform how PSIs can align with the provincial economic growth strategy and how PSIs can augment the overall economy, both regionally and provincially.