University vital to diversifying economy: LU president

Diversifying the region’s economy can’t be done without a university, says Lakehead University’s new president.

Brian Stevenson said the university has played a key role in developing new knowledge-based industries in the region, such as medical sciences, and needs to continue that trend.

"It creates a knowledge cluster in the city that we’re able to take advantage of to be able to create new industries," he said. "What we have to do is get the private sector engaged to start imagining where we can take these industries and these discoveries to a commercial conclusion."

Stevenson, speaking at a consultative conference at LU about the university’s role in economic development Thursday, said the school also needs to support economy staples, such as forestry, mining and tourism.

Stevenson added that he is interested in taking a look at other universities, like Waterloo, to see how it transformed to a high-tech economy.

"I think our role is to help plan to diversify the economy. In the case of what we have (at Lakehead University), to build up the knowledge-based economy," Stevenson said.

Retired university president Robert Rosehart attended the conference to explain that exact model. Rosehart said the story of Kitchener Waterloo and its relationship with Research in Motion.

"When I went to Waterloo in 1997 (RIM) had 250 employees. Now they have 8,000 in Waterloo and 3,000 more around the globe."