Xerox Canada contributes $1 million to McMaster University
Press release from the issuing company
MISSISSAUGA, ON, Aug. 18 - Marking three decades of innovation in Canada, Xerox Canada announced today a $1 million gift to Hamilton, Ont.-based McMaster University toward the building of a new Centre of Innovation and Entrepreneurship, a first of its kind in Ontario.
"This endowment is dedicated to two causes at the heart of Xerox: innovation and entrepreneurship - a source of Xerox's continued success in the marketplace," said Doug Lord, chairman, president and CEO, Xerox Canada Ltd.
McMaster President Peter George believes "the commitment of Xerox launches the realization of our vision for the Faculty of Engineering and for McMaster University. Xerox has taken the lead in the creation of a truly innovative School. Its teaching and research will remain strong through close links to business and industry."
The funding, which is a joint gift from Xerox Canada and The Xerox Foundation, will establish the Xerox Centre for Engineering Entrepreneurship and Innovation within the School for Engineering Practice at McMaster University. An expert team of faculty and staff will operate the Centre, assembled to research and teach the mechanisms of translating technical expertise into product and process innovation and commercial success.
The announcement was made during a celebration of the 30-year anniversary of the Xerox Research Centre of Canada (XRCC) held at the location of the Centre's state-of-the-art laboratories and advanced chemical engineering pilot plant, attended by delegates from all levels of government, and Xerox and McMaster executives and alumnae. Xerox Canada employs 52 McMaster graduates with 12 located at XRCC.
Since its inception in 1974, XRCC has been awarded more than 950 US patents and authored some 900 scientific articles. Innovations generated recently at XRCC include the breakthrough EA toner that narrows the gap between colour and monochrome printing costs, and a revolutionary organic light-emitting diode (OLED) display device with the potential to replace liquid-crystal display screens.
"We have achieved so much here in Canada over the last 30 years, and are looking forward to a new era of innovations that we will uncover at XRCC in the next 30," said Rafik Loutfy, corporate vice president, Xerox Innovation Group. "Xerox is fortunate to have some of the best scientific minds here in Canada to shape the technologies that will drive the company's future success and growth."
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