Friday, May 22, 2015
Province to Invest $23.5 Million in New Brain Research Centre
Ontario is investing in a new Canadian Centre for Aging and Brain Health Innovation at Baycrest Health Sciences. This investment will support projects that enable healthier brain aging, allow seniors to live at home longer and reduce health care costs by providing better care solutions.
Premier Kathleen Wynne made the announcement today during a visit to Baycrest with Minister of Research and Innovation, Reza Moridi. As proposed in the 2015 Budget, the government will contribute $23.5 million over five years to establish the new centre, which will combine all of Baycrest's brain research, clinical and educational programs into one national hub.
The new centre will support the development of new technologies, products and resources to help people maintain their cognitive, emotional and physical well-being and independence as they age. It will also aid in the commercialization and adoption of innovations developed in Ontario, helping to boost the economy and create high-quality jobs.
Supporting healthy aging and cutting-edge research is part of the government's plan to build Ontario up. The four-part plan includes investing in people's talents and skills, making the largest investment in public infrastructure in Ontario's history, creating a dynamic, innovative environment where business thrives, and building a secure retirement savings plan.
Quick Facts:
- By 2036, Ontario’s seniors’ population will more than double to 4.2 million.
- In Ontario, the economic impact of brain and mental health disorders is estimated to cost more than $39 billion annually.
- The global market for brain health applications, software and biometrics is expected to grow from $1 billion to $10 billion by 2020.
- The Aging and Brain Health Innovation Centre is one of the largest investments in senior care in the world. It is scheduled to launch this fall.
Additional Resources:
Quotes:
"Brain disorders take an enormous toll on a personal level, as well as on the economy. Our investment in this centre will allow new advances in brain research and care, cementing Ontario’s position as an innovation leader and ensuring that people can continue to lead healthy lives as they age."
— Kathleen Wynne, Premier of Ontario
"Our government is proud to support Baycrest Health Sciences and the new Canadian Centre for Aging and Brain Health Innovation. We are committed to harnessing our research and commercialization strengths to attract investment and boost our economy, while helping aging Ontarians maintain their quality of life in the comfort of their own homes."
— Reza Moridi, Minister of Research and Innovation
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