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Innovators: Research & Development Corporation (RDC)
Research & Development Corporation (RDC)
68 Portugal Cove Road
St. John’s, NL
The Research & Development Corporation (RDC) was established to improve research and development (R&D) in Newfoundland and Labrador. Incorporated under the Research and Development Council Act in 2009, RDC operates at arm’s length from the provincial government.
RDC provides leadership, strategic focus and investments in order to strengthen and improve the research system throughout the province. Increased R&D activities will play a major role in driving innovation, creating wealth and increasing economic growth in Newfoundland and Labrador for future generations.
There is a need for increased investment in research and development in Newfoundland and Labrador. In 2008, Newfoundland and Labrador’s GERD (gross domestic expenditures on research and development), was calculated to be only 0.88 percent of the total provincial GDP compared to 1.87% in Canada as a whole, which is low relative to other international jurisdictions.
RDC is responsible for providing advice and leadership in working with R&D stakeholders including business, academia and government departments and agencies.
Over the next 10 years, RDC will focus on the following activities:
- Increasing overall R&D investment in Newfoundland and Labrador
- Pursuing R&D opportunities that are relevant to the local economy
- Targeting sectors that are of strategic importance to Newfoundland and Labrador’s economy
- Understanding current and future markets and research needs
- Responding quickly and flexibly to opportunities
- Encouraging key stakeholders to collaborate and cooperate in the R&D process
RDC investment decisions are guided by the need to:
- Increase business investment in R&D
- Target industries with identified technical needs, market opportunities or resource development potential
- Invest in the development of highly-qualified researchers, innovative research equipment, and world-class research facilities
- Emphasize quality, industry relevance and economic impact when considering institutional investments in R&D
- Employ a global lens in evaluating opportunities to ensure investment decisions are strategic and aligned with Newfoundland and Labrador’s competitive advantages
- Facilitate local, national and international collaboration among R&D stakeholders – business, academia and others