Canada’s tech giant consortium, the Digital Technology Supercluster, has set aside more than US$1.2 billion (CAD$1.4 billion) to fund over 100 collaborative projects that will involve more than 1,000 organizations across the country.
The investment will create more than 50,000 new jobs over a period of 10 years in addition to contributing as much as US$12 billion to the country’s GDP, according to the Digital Technology Supercluster.
The consortium, which includes the likes of Telus and Microsoft, is currently waiting to be included into the federal government’s Innovation Supercluster Initiative, which is designed to incubate technology startups and then support them in bringing ideas to market.
Canada’s Digital Technology Supercluster says it will make use of new technologies – including augmented reality, data analytics, artificial intelligence, quantum computing, cloud, and blockchain – to address challenges in the important sectors such as manufacturing and healthcare.
Announced by the government in its last financial budget, the initiative is also aimed at making Canada more attractive to startups, international talent, and foreign investment.
“We aim to tackle opportunities that would not have been undertaken by any company alone, but instead through a collective effort, these projects will have global impact — like advancing cancer treatment with the goal of finding a cure,” said Bill Tam, Co-chair of the Digital Technology Supercluster.
“Our collaboration framework will draw upon expertise and skills from companies, organizations and individuals across Canada,” he continued.