Thomson Reuters sets up innovation and data lab in Waterloo

Thomson Reuters Corporation (TSE:TRI) has just announced the establishment of Thomson Reuters Labs™ – Waterloo Region, in Ontario, Canada.

The new center has two main goals: innovation and partnership. Innovation is set to come through applied research and experimentation on Thomson Reuters’ data sets, helping to result in novel solutions for the company’s customers. Partnership involves collaboration with academics, students and startups to put new technologies into practice.

“Thomson Reuters Labs will be an engine of innovation for our company, bringing together our unrivalled information assets and industry expertise with experts who can help make those assets increasingly actionable for our customers,” said Jim Smith, Chief Executive Officer, Thomson Reuters. “We are delighted to partner with the Waterloo community, leveraging our heritage as one of Canada’s leading companies in the preeminent hub of Canadian innovation.”

The Lab will have a presence at Communitech, an industry-led innovation centre of nearly 1,000 companies. Thomson Reuters will als be partnering with the University of Waterloo, which has been recognized as the most innovative university in Canada and is home to some of best mathematical and computer science talents.

“Thomson Reuters Labs will give Waterloo Region startups a chance to parti3 750x280-500x187ner with one of the leading sources of professional information in the world,” said Iain Klugman, President and CEO of Communitech. “It will also provide Thomson Reuters new insights into how these data sets can be used in rapidly changing markets.”

“We are excited to be working with Thomson Reuters on real enterprise data curation challenges. This partnership demonstrates Thomson Reuters understanding of how university researchers can contribute to, and benefit from, research collaboration,” explained Vic DiCiccio, Director of the University of Waterloo’s Institute for Computer Research.

The Lab will officially launch at Techtoberfest, set to run from October 13-14, 2015.

Canada is obviously retaining its allure for establishing research hubs. Less than a week ago, First Derivatives plc (LON:FDP), a major provider of trading technology, announced the formation of FD Labs, its new research and development arm to be based in Ottawa, Canada.

To view the official press release by Thomson Reuters, click here.

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