A major research partnership between technology giant IBM Canada Ltd. and seven Ontario universities marks a first large step in a federal strategy to drive Canadian innovation and prosperity by retooling the way government spends research dollars.

The initiative will create substantial new research capacity using supercomputing and cloud computing, which are needed to grapple with vast troves of data researchers now collect and store. IBM will contribute up to $175-million by 2014, pooled with $20-million in federal funds and $15-million from the Ontario government.

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Realted Article in The Record