Intellectual Property Ontario investing $2 million to support innovation and commercialization at postsecondary schools
FOR IMMEDIATE RELEASE
Waterloo, ON (April 20, 2023) - Intellectual Property Ontario (IPON) is providing $2 million in funding for seven projects proposed by ten postsecondary institutions across the province to enhance commercialization efforts and drive economic growth. This pilot project will also support the Commercialization Mandate Policy Framework which was first introduced by the Government of Ontario in January 2022 to help colleges and universities advance the shared goal of ensuring that “made-in-Ontario” research and innovation benefit Ontarians.
Within the province, colleges and universities are a large contributor of innovation outputs which are critical to productivity growth in today’s global knowledge-based economy. Through various consultations and engagements with Ontario’s postsecondary sector, IPON heard that more support and resources are needed to improve IP and commercialization efforts.
“IPON’s funding support is always coupled with our wider services such as access to dedicated IP talent, mentorship and education programs that can be implemented across campus. This is important because having these additional supports provides a better opportunity for long-term innovation and commercialization success which is what we want to see,” said Peter Cowan, CEO, IPON.
In late February, IPON put out a call for proposals for up to $300,000 in funding. Submitted proposals included: a demonstrated need for additional resources; a proposed project or activity related to commercialization; how results will be achieved in eight months or less; and, how impact will be measured. IPON received 23 applications in total.
“This investment is just one example of how IPON is supporting our province’s postsecondary institutions and innovators, by providing them with the funding, tools, knowledge and connections they need to harness the value of their IP,” said Jill Dunlop, Minister of Colleges and Universities. “Initiatives like this are helping our province’s innovators benefit from IPON’s expertise and ensuring the economic and commercial benefits of home-grown innovation remain right here in Ontario.”
The following institutions have been selected to receive funding totaling $2 million:
Conestoga College
Durham College
La Cite College
Niagara College
Lambton College
York University
Joint proposal led by Laurentian University with Trent, Lakehead and Nipissing universities
“Through IPON, our government continues to support Ontario’s innovators, businesses and researchers as they bring more of their made-in-Ontario research and innovation to market,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “Ontario is home to some of the brightest minds in the world, and this funding will help ensure that we remain a global leader in innovation. Together, we’re building a strong Ontario.”
IPON is committed to collaborating and supporting all publicly funded postsecondary schools in Ontario by acting as a strategic partner on IP protection and commercialization. IPON is leading a joint working group on commercialization metrics, providing IP education programs, and facilitating industry matchmaking to augment the impact of our research community.
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Media Contact:
Kristy Smith
Communications & Policy Advisor
Intellectual Property Ontario
kristy.smith@ip-ontario.ca
Intellectual Property Ontario
Intellectual Property Ontario (IPON) is a provincial agency that provides trusted IP support and services to enable Ontario businesses and researchers to innovate and grow. IPON works directly with clients and postsecondary institutions to better understand how to protect and maximize the value of their IP, strengthen their capacity to grow, compete in the market, and advance the province’s economic growth. For more information visit www.ip-ontario.ca.