Over the five decades of its existence, Memorial University has taken advantage of its location to build outstanding expertise in the physical, biological, socio-economic and cultural aspects of our ocean environment. A range of disciplines and faculties embrace these studies in the sciences, engineering, social sciences and the humanities. The continued sustainability of these resources is critical to the economic and social well-being of Canada. Enhancement in Memorial University's research capacity is planned in the advanced areas of Fishing, Forestry and Mining. The Oil and Gas industry will be supported by research that will enable Memorial to become a global leader in this area.
Economic diversification is crucial to the future of the province.
Memorial University plays a pivotal role in this diversification through its current and future research capacity and by preparing people to fully participate in the new knowledge-based economy. The University has been a leader in telemedicine and telelearning. Memorial has developed high performance computational and communications technologies to enable research at the highest level. Memorial University intends to capitalize on opportunities presented by its location to build strengths in Biotechnology, especially Marine Biotechnology. Small-scale manufacturing of a diversified array of products is emerging as an important contributor to the provincial economy.