Companies can learn from students
In today’s economic downturn, many businesses have yet to discover a hidden resource – graduate students.
They’re full of fresh, up-to-date ideas and they work for less – at least when they start.
For instance, when Ryerson University student Angie Wu received her masters degree this year, her employers saw it as an investment borne fruit.
Her studies in electrical computer engineering helped Wu develop a breakthrough program for her pipeline testing company.
Graduate students like Wu are the next potential scoop for growing small to mid-sized companies. And more and more GTA businesses are taking notice.
In fact, late last month, 50 GTA businesses gathered at the Innovation Synergy Centre in Markham to find out more.
"Graduate students are a rich source of talent," says Paul Rivett, director of the centre’s Research & Development Partnerships.
"Their advanced degree gives them a leading edge. They work at a very high level within their thin slice of field."
Rivett points out many mid-size companies need to hire those who have the know-how on the latest, advanced technology in order to stay ahead.
"They can’t have any `pie in the sky’ research these days. Years ago it was `innovate and grow.’ Now it’s `innovate or die,’" he says.
His organization’s seminar was geared toward niche businesses, like Wu’s employer, Mississauga-based Pressure Pipe Inspection Co.
Pressure Pipe investigates freshwater and waste water concrete pipes. Wu started interning for them last year. Her contribution, a program called "acoustic non-destructive emission testing", uses signal extraction and recognition technology pay day loan lenders. Wires used to reinforce pipelines need to be regularly checked for mishaps. Sensors put into those wires will monitor breakdowns, catching sounds caused by corrosion. Wu’s program assesses those sounds, determining which are non-threatening – such as water, rain, or traffic noises – and which should be looked into.
Wu trained the company’s analysts to use her program, and now works full-time as a system developer. She says without Ryerson faculty help, she would never have found this job. "What interested me the most about this job is the industry application I get along with work experience," Wu says.
Her boss, Kong Xlangjie, agrees.
"Students and professors work well with our team," he says. "They understand our objectives, and they provide lots of fundamental expertise to solve technological challenges."
Xlangjie and his senior staff come from a graduate student background as well, and have had a long history of taking in university students for research projects.
Markham’s synergy centre essentially acts as the matchmaker between companies and grad students at Ryerson and York University, but relies on third-party help to complete the set-ups. Ryerson is overseen by the Ontario Centres of Excellence, while York works with Accelerate Ontario. To date, the centre has produced more than 100 matches.
"We work very well as a regional innovation network," Rivett says. "We’re always on the lookout for new projects in different skill domains."