{"id":615,"date":"2020-12-13T05:43:59","date_gmt":"2020-12-13T05:43:59","guid":{"rendered":"https:\/\/yuesirdev.wpengine.com\/?page_id=615"},"modified":"2020-12-22T23:34:03","modified_gmt":"2020-12-22T23:34:03","slug":"a-driver-of-economic-growth","status":"publish","type":"page","link":"https:\/\/www.yorku.ca\/economic-social-impact-report\/a-driver-of-economic-growth\/","title":{"rendered":"A Driver of Economic Growth"},"content":{"rendered":"\n
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A Driver of Economic Growth<\/h1>\n\n\n\n

The 快播视频 Economic and Social Impact Report 2020 Summary<\/p>\n<\/div>\n\n\n\n

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快播视频 contributes to the provincial economy in significant and direct ways: first, through the employment and immigration of its access and international alumni; second, by its focus on fostering innovation and entrepreneurship; and third, through hundreds of industry partnerships\nthat benefit both the private sector and the university and its students.<\/h2>\n\n\n\n

York\u2019s attributable direct annual output effects exceeded its 2018 operating expenditures more than two-fold.<\/p>\n\n\n\n

The impact of 快播视频 on the Ontario economy is equal to over $4 billion, or about 0.6% of provincial GDP.<\/p>\n\n\n\n

Direct institutional spending at York was equal to $914 million, with indirect and induced effects raising the institutional spending footprint to over $1.4 billion.<\/p>\n<\/div>\n\n\n\n

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Total estimated spending footprint of York, its students and its alumni in 2018 <\/p>\n\n\n\n

$2.3B<\/p>\n\n\n\n

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Estimated total when accounting for indirect and induced spending<\/p>\n\n\n\n

$4.4B<\/p>\n<\/div><\/div>\n\n\n\n

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Together, through accessibility, the downstream effects of having facilitated immigration to Canada and international student education, York could be directly attributed $2.34 billion in spending and 10,569 jobs in 2018. Including indirect and induced effects, York\u2019s impacts in these areas increases to over $4 billion and 13,480 jobs<\/strong>.<\/h2>\n<\/div><\/div>\n\n\n\n
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Measurable Institutional Impact<\/h2>\n\n\n\n
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We can attribute to causal economic impact to York in three ways: alumni who accessed post-secondary or university education because of York; alumni who immigrated to Canada because they studied at 快播视频; spending in Canada by York\u2019s international students.<\/p>\n\n\n\n

Adding these effects together, we estimate that York was directly responsible for $2.24 billion in economic output and 10,569 jobs in Canada in 2018<\/strong>, with these figures expanding to over $4 billion and 13,480 jobs when accounting for indirect and induced effects. An upper bound estimate of attributable tax revenues generates a figure of $913 million, well in excess of the $582 million spent on York by governments<\/strong>. <\/p>\n\n\n\n

快播视频 has effects on the distribution of economic activity and people within Canada. Among students  surveyed, only 24.5% reported their primary residence before studying at York was outside the GTA, but among these, more than half (51.2%) indicated they would have been unlikely or very unlikely to come to the GTA if not for their studies at York.<\/p>\n\n\n\n

Among alumni, 10% of respondents indicated their primary residence before attending York was outside Canada, and 65.5% of these alumni were now living in Canada.<\/p>\n<\/div>\n\n\n\n

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The alumni survey asked how many would have been unlikely to be living in Canada if not for attending York, meaning that York played a crucial role in their residency in Canada. The share was 44.2%, which across all York alumni translates into approximately 7,277 people aged 25 to 64 who would not be living in Canada if not for having attended York.<\/p>\n\n\n\n

The average income of these alumni was $128,080 in 2018. This translates into a total direct output impact of $932,038,160 in 2018, which would correspond to $1,789,513,267 when including indirect and induced spending. In terms of jobs, the employment rate of these alumni was 92.7%<\/strong>, meaning they would include 6,747 workers, with a further 63 induced jobs.<\/p>\n\n\n\n

There are significant direct-to-private- sector economic impacts associated with York\u2019s activities: between the increased income and expenditure of those individuals who wouldn\u2019t have gone to university (or possibly any post-secondary institution) but for York, the expenditures of current international students and the expenditures of former students who have since become permanent residents or citizens, the impact of 快播视频 on the Ontario economy is equal to over $4 billion, or about 0.6% of provincial GDP<\/strong>. Without York, the GTA, Ontario and Canada would lose out considerably in the long-term.<\/p>\n<\/div>\n<\/div>\n<\/div><\/div>\n<\/div><\/div>\n\n\n\n

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Table 6<\/strong> Measurable economic effects of 快播视频, 2018<\/p>\n\n\n

快播视频

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<\/th>Economic Output<\/th>Jobs<\/th>\n<\/tr>\n<\/thead>\n
<\/td>Direct<\/td>Direct, indirect and induced<\/td>Direct<\/td>Direct, indirect and induced<\/td>\n<\/tr>\n
Access<\/td>$1,138,056,496 <\/td>$2,185,068,472 <\/td>1,621<\/td>2,918<\/td>\n<\/tr>\n
Immigration<\/td>$932,038,160 <\/td>$1,789,513,267 <\/td>6,747<\/td>7,810<\/td>\n<\/tr>\n
International Students<\/td>$268,708,544 <\/td>$36,195,458 <\/td>2,201<\/td>2,752<\/td>\n<\/tr>\n
Total<\/td>$2,338,803,200<\/td>$4,010,777,197 <\/td>10,569<\/td>13,480<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/body>\n\n<\/div><\/div>\n\n\n\n
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Table 9 <\/strong>Upper bound estimate of total tax revenues attributable directly to York access, immigration effects and international student recruitment, 2018<\/p>\n\n\n

快播视频

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<\/th>Federal<\/th>Provincial<\/th>Total<\/th>\n<\/tr>\n<\/thead>\n
Access<\/td>$314,258,628 <\/td>$216,752.91 <\/td>$531,011,535 <\/td>\n<\/tr>\n
Immigration<\/td>$226,424,553 <\/td>$150,552,059 <\/td>$376,976,612 <\/td>\n<\/tr>\n
International students<\/td>$1,976,176 <\/td>$3,161,881 <\/td>$5,138,056 <\/td>\n<\/tr>\n
Total<\/td>$542,659,357 <\/td>$370,466,847 <\/td>$913,126,204 <\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/body>\n\n<\/div><\/div>\n\n\n\n
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Entrepreneurship and Commercialization<\/h2>\n\n\n\n
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Entrepreneur alumni credit 快播视频 for giving them the desire and tools to create and build their own ventures. They also recognize York\u2019s role in supporting their development through the stages of commercialization.<\/p>\n\n\n\n

Entrepreneurship<\/strong><\/p>\n\n\n\n

Among alumni entrepreneurs, 21% agreed with the statement that they became an entrepreneur because they attended 快播视频, suggesting that 快播视频 was instrumental to 16,491 entrepreneurs launching their ventures<\/strong>. Additionally, 30.2% of York alumni entrepreneurs said their ventures had been more successful because they attended 快播视频.<\/p>\n<\/div>\n\n\n\n

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In the 2018 Graduate Programs Outcomes Survey, 12% of York respondents indicated that they both expected to be and subsequently were self-employed, compared to 10% on both measures across Ontario, a statistically significant difference. Four percent more of these entrepreneurs also employed others.<\/p>\n\n\n\n

Bringing together York\u2019s entrepreneurial initiatives, Innovation York data shows a considerable increase in startups meaningfully supported since 2016-17. As shown in Figure 6, they project this growth will continue for the foreseeable future.<\/p>\n<\/div>\n<\/div>\n<\/div><\/div>\n<\/div><\/div>\n\n\n\n

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Figure 4<\/strong> Startups receiving meaningful support from 快播视频 2016-17 to 2023-24<\/p>\n\n\n<\/div><\/div>\n\n\n\n

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Commercialization success<\/strong><\/p>\n\n\n\n

Beyond supporting entrepreneurship among students, York continuously innovates to create spaces that help new ideas come to market in an effective way.<\/p>\n\n\n\n

In 2017, York established its YSpace, a 10,000-square-foot community innovation centre in Markham Centre. YSpace supports entrepreneurs by providing a co-working space, access to industry advisors, education, workshops and technologies. By 2019, the YSpace incubated 32 ventures that raised $5.8 million in funding, with the incubator itself generating $3.1 million in revenues<\/strong>, creating 87 jobs<\/strong>. <\/p>\n\n\n\n

To participate in the YSpace incubator programs, founders must have products in market or ready for launch within three months<\/strong> and must be committed to working on their venture full time and in the YSpace for at least three days per week. Further, the startup should have potential to grow and scale<\/strong>; the team should be focused on solving a societal problem<\/strong> using innovative methods; and the project team must be driven, coachable and collaborative.<\/p>\n<\/div>\n\n\n\n

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YSpace has also launched a consumer packaged goods Food and Beverage Accelerator program with the goal of tripling company sales through mass-market distribution. The project supported eight ventures in its first year and will continue for two additional years to support 18 more ventures (YSpace Markham 2019). Examples of ventures incubated in YSpace to date are outlined in Table 10.<\/p>\n<\/div>\n<\/div>\n<\/div><\/div>\n<\/div><\/div>\n\n\n\n

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Table 10<\/strong> YSpace ventures incubated to date<\/p>\n\n\n

快播视频

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Venture<\/th>Product<\/th>Indicators of success<\/th>\n<\/tr>\n<\/thead>\n
Able Innovations (graduated)<\/td>Technology to support patient mobility in healthcare<\/td>Two collaborative research projects, over $600,000 in funding raised<\/td>\n<\/tr>\n
Creation Crate<\/td>E-learning platform combining digital course content and hands-on projects to teach STEM skills<\/td>Over 17,000 subscriptions sold in 65 countries<\/td>\n<\/tr>\n
Eatable<\/td>Snacks, including all-natural gourmet popcorn with cocktail, wine and spirit inspired flavours<\/td>Sold in over 50 locations, nine magazine features<\/td>\n<\/tr>\n
Mero Technologies (graduated)<\/td>Providing smart property management solutions<\/td>Deployed in 10 facilities including Pearson International Airport and Hilton Hotels and Resorts, 30% initial client efficiency savings<\/td>\n<\/tr>\n
Screenfluence<\/td>All-in-one hardware solution to help businesses control their display content remotely and easily<\/td>Deployed in over 150 locations, 111% annual growth since 2017<\/td>\n<\/tr>\n
Suku Vitamins<\/td>Natural gummies that provide beauty and wellness benefits and are sugar and gelatin free.<\/td>Sold in over 250 locations, 58.12% month-over-month growth<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/body>\n\n<\/div><\/div>\n\n\n\n
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Commercialization success stories<\/strong><\/h2>\n\n\n\n

\u2022 Droplet Lab, a startup commercializing an image-based surface tensiometry instrument using a smartphone. Dr. Alidad Amirfazli from the Lassonde School of Engineering secured $50,000 through the prototype fund, as well as $125,000 through the NSERC I2I program. These funds supported the development of a commercial prototype that is now being sold globally through the startup company (dropletlab.com).<\/p>\n\n\n\n

\u2022 Founded in 2014 through Innovation York\u2019s commercialization unit, Bitnobi Inc. is a startup focused on commercializing a privacy-protected data-sharing technology developed in the laboratory of Dr. Marin Litoiu. This YorkU startup has had a considerable amount of success, securing $470,000 from the federal government, $200,000 from the Canadian Department of National Defense to deploy and test the technology and a further $1,000,000 to take the prototype from phase 1 and
turn it into a commercial product. In addition, Bitnobi was named as a key one in the Canadian Personalized Health Innovation Network led by Roche Canada.<\/p>\n<\/div><\/div>\n\n\n\n

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Over<\/p>\n\n\n\n

100,000+<\/p>\n\n\n\n

businesses started by York alumni<\/p>\n<\/div><\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\n\n\n\n

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Partnerships and work-integrated learning<\/h2>\n\n\n\n
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Partnerships with industry and work-integrated learning opportunities for students are integral to how York innovates in its learning and discovery.<\/p>\n\n\n\n

Partnerships<\/strong><\/p>\n\n\n\n

In 2018-19, 快播视频 had 178 industry partnerships, with these generating private funding equal to $4,601,702. These figures are primed to grow.<\/p>\n\n\n\n