Ontario’s future depends not only on embracing disruptive technology, but also on producing and exporting innovations built around cloud computing and artificial intelligence, says Dr. Tom Corr, President and CEO of Ontario Centres of Excellence.
According to the Brookfield Institute for Innovation and Entrepreneurship (BII+E), 7.5% of businesses in Ontario operate in the tech sector – the highest proportion in Canada. The tech sector is directly responsible for 7.1 percent of Canada’s economic output.
That may not be enough.
“There are so many disruptive technologies coming about that are disrupting every sector of our economy, from finance to healthcare to manufacturing,” Corr said in an interview during last week’s launch of IBM’s Innovation Hub in Toronto. “It’s important that we not only adopt it, but stay ahead of it and be part of that trend.”
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Adopting Technology Versus Making It
Corr’s point is about where the value ends up. A province can be full of businesses that buy and use the latest cloud and AI tools and still capture little of the money those tools generate, because the products, patents and head offices sit elsewhere. Being a producer means building the technology, owning it and selling it abroad.
That’s why a 7.5% share of businesses wasn’t the end of the story for Corr. The question was whether Ontario companies would make the next wave of tools, or mainly pay for them.
The Startups in IBM’s Hub
The IBM hub hosts startups including med tech company Analytics4Life, which is working on a new coronary artery disease test, and BigTerminal, a personalized finance news aggregator. Both use IBM Watson and IBM Bluemix technology as vital parts of their platform infrastructure.
Analytics4Life is a good example of what a long road to export looks like. Its test became the CorVista System, which by 2024 was cleared in the U.S. to help evaluate coronary artery disease. In April 2024, Analytics for Life and CorVista Health announced U.S. Food and Drug Administration clearance for an add-on that indicates the likelihood of pulmonary hypertension, which the FDA had named a Breakthrough Device in 2022. That’s about eight years after the company appeared in IBM’s hub, which is typical for regulated medical technology.
Knowledge as a Natural Resource
Ontario’s knowledge in upcoming areas of technology should be considered a natural resource, Corr said. “In terms of cloud computing, artificial intelligence and cognitive computing, there’s great talent coming out of places like the University of Toronto, the University of Waterloo.”
Corr said many companies in the IBM Innovation Hub, which offers startups networking and scaleup opportunities, wouldn’t have access to cognitive and cloud technology without partnering with IBM.
These resources can translate into export opportunities for Ontario and Canada.
“Should these companies see export potential in Germany, or Brazil, or in the U.S. or wherever they may be, these companies can then locate in an IBM facility in those places and get the help they need,” he said.
Corr, who holds his Doctor of Business Administration from Henley Management College in England, has led technology commercialization initiatives at University of Toronto and University of Waterloo.
What Happened Next
The talent Corr described soon got its own institution. The Vector Institute launched in Toronto in March 2017 with $135 million in funding commitments from the federal and Ontario governments and nearly 40 companies, built on the work of Geoffrey Hinton and colleagues at the University of Toronto.
The tools the hub offered changed too. IBM retired the Bluemix name in November 2017 and folded it into the IBM Cloud brand. In 2022, IBM sold the healthcare data and analytics assets of its Watson Health business to Francisco Partners, and in May 2023 it introduced watsonx, a new AI and data platform built around foundation models.
Corr’s own time at OCE ended in 2019. He stepped down as president and CEO at the end of June 2019, after almost a decade with the organization, weeks after OCE cut staff following a major reduction in its provincial funding. Claudia Krywiak took over, first on an interim basis, and in November 2020 OCE became the Ontario Centre of Innovation.
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Frequently Asked Questions
Why did Tom Corr say Ontario had to lead in technology?
Tom Corr, then President and CEO of Ontario Centres of Excellence, said disruptive technologies were affecting every sector from finance to healthcare to manufacturing. Corr argued Ontario had to produce and export cloud and AI innovations, not just adopt them.
How large was Ontario's tech sector in 2016?
According to the Brookfield Institute for Innovation and Entrepreneurship, 7.5% of Ontario businesses operated in the tech sector, the highest proportion in Canada. The tech sector was directly responsible for 7.1 percent of Canada's economic output.
Which startups did IBM's Toronto hub host?
The hub hosted startups including Analytics4Life, which was working on a coronary artery disease test, and BigTerminal, a personalized finance news aggregator. Both used IBM Watson and IBM Bluemix in their platforms.
What happened to Analytics4Life's heart test?
The test became the CorVista System. In April 2024, Analytics for Life and CorVista Health announced FDA clearance for a pulmonary hypertension add-on to the system.
What happened to Tom Corr and Ontario Centres of Excellence after 2016?
Tom Corr stepped down as president and CEO at the end of June 2019, after OCE's provincial funding was cut. In November 2020, OCE became the Ontario Centre of Innovation.