What is a technology park

What is a Technology Park

Canadian R&T parks are communities of innovation that link industry with government and academia. Developed in partnership with key stakeholders such as municipal, provincial and federal governments, affiliated universities, and economic development agencies, a university research and technology park typically has:

  • A master development plan with potential to accommodate new and expanding knowledge-based businesses.
  • An incubation and/or acceleration centre.
  • A collaboration agreement with the affiliated university to drive new innovations to the market and increase technology transfer opportunities.
  • A role in promoting technology-led economic development for the community or the region.

Research and technology parks are uniquely structured as not-for-profit entities, wholly or partially owned by a university or university related entity, or privately held. Regardless of the corporate structure, the mandate is consistent: to drive new innovations to the market and provide the support needed to existing knowledge-based businesses to enable born-global, export-ready ventures to thrive in the Canadian ecosystem.

Economic Impact Information

Current

  • $4.3 billion
    in gdp
  • $3.2 billion
    in salaries
  • 65,187
    jobs
  • $596 million
    in tax revenue

Next 5 Years

  • $6.4 billion
    in gdp
  • $4.8 billion
    in salaries
  • 99,599
    jobs
  • $903 million
    in tax revenue