In a presentation to city councillors, Invest Ottawa president and CEO Bruce Lazenby said the organization had been working on the concept with the Beijing government for several years.
There will be some interest in helping Chinese companies into the Canadian market, said Mr. Lazenby in an interview. The main emphasis, however will be on getting Canadian technology into China by providing them with researchers, capital and hopefully better access to Asian markets.
“It’s a great opportunity to provide investment opportunities for Ottawa companies and a great opportunity for Ottawa companies to find a market in China, which of course is a massively growing market,” said Mr. Lazenby.
While dubbed a “research park,” the initiative will operate out of the Invest Ottawa offices downtown for at least the first few years. Mr. Lazenby compared it to similar facilities in Silicon Valley and Finland, said Mr. Lazenby.
More details will be released at a news conference scheduled for next week, he said.