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Ottawa invests $10.7 million in digital media commercialization in Waterloo region and Stratford

Communitech and the Stratford Institute of the University of Waterloo have been awarded $10.7 million from the Mini...


January 22, 2009  


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Communitech and the Stratford Institute of the University of Waterloo have been awarded $10.7 million from the Minister of State (Science and Technology) to establish the Corridor for Advancing Canadian Digital Media (CACDM), which will focus on commercialization and research.

    

The digital media sector is one of the fastest growing industries in the knowledge economy, expected to reach US$2.2 trillion worldwide in the next five years.

 

Digital media is created by using visual images and video, as well as sound and user interaction software, to communicate and use information from large data sources.

  

The CACDM will provide a “common space” for the corporate and academic communities to come together around digital media.

 

The Digital Media Convergence Centre, based in Kitchener, Ont., will bring together the Waterloo Region’s expertise in digital media and mobile technology.

 

It will generate new digital media products, applications and businesses. The centre will house digital imaging, projection and studio technologies that previously have only been available to large companies and institutions.

    

“This new centre will help Canadian researchers and entrepreneurs get more of their innovations from the lab to the marketplace,” said Gary Goodyear, Minister of State (Science and Technology).