Overview
The Research & Development Corporation (RDC) is a provincial Crown corporation that was established to improve Newfoundland and Labrador’s research and development (R&D) performance. The Research and Development Council Act was passed by the Government of Newfoundland and Labrador in December, 2008.
The mandate of the RDC is to strengthen the focus, quantity, quality and relevance of research and development undertaken in the province and elsewhere for the long-term economic benefit of the province. Increased research and development activities will play a major role in driving innovation, creating wealth and increasing economic growth in Newfoundland and Labrador for future generations.
Over the long term, the Research & Development Corporation will provide leadership, strategic focus and planning in order to strengthen and improve the research system throughout the province. The RDC will operate at arm's length from Government but with responsibility for providing advice and leadership in working with R&D stakeholders including industry, academia and government departments and agencies.
There is a need for increased investment in research and development in Newfoundland and Labrador. In 2006, R&D expenditure in Newfoundland and Labrador was equal to 1% of GDP. In contrast, the Canadian average is 2% and the Organization for Economic Cooperation and Development (OECD) average is 2.26%. Addressing this differential requires continuous investments in people, research and infrastructure.
What is R&D?
Research and development refers to “the creation of new knowledge or the application of existing knowledge to improve products, processes and/or services to affect economic outcomes” (Source: Derived from OECD, “Frascati Manual: Proposed Standard Practice for Surveys on Research and Experimental Development, 2002”).
Why invest in R&D?
Research and development is a key driver of innovation, competitiveness and economic performance. Increased R&D investments will strengthen our academic institutions and industries.
