Intellectual Property Ontario (IPON), a provincial agency that provides IP support and services to enable Ontario businesses and researchers to innovate and grow, has announced it will invest $2 million to support seven innovation and commercialization projects across 10 post-secondary institutions in Ontario. Conestoga will receive $300,000 as part of the initiative and will direct the funds to the development of a commercialization centre to support regional businesses.
“We are grateful to IPON for this investment which will support commercialization activities to boost innovation and economic development in our region,” said Michelle Chrétien, associate vice president, Research & Innovation. “Our proposal outlined the creation of a new Centre for Commercialization that will leverage the existing infrastructure of our Research, Innovation & Entrepreneurship team in order to support successful commercialization outcomes for regional entrepreneurs, small- and medium-sized enterprises and researchers.”
IPON funding will support staffing and leadership for the centre, which will include an expert in commercialization and technology transfer who will act as an industry and ecosystem connector. The centre will also be supported by a project coordinator who will help mobilize and align existing applied research and entrepreneurship resources for this new purpose.
“This investment is just one example of how IPON is supporting our province’s post-secondary 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.”
In a news release, Peter Cowan, IPON CEO, said that IPON’s funding support is coupled with its wider services that include access to dedicated IP talent, mentorship and education programs that can be implemented across campus.
Visit Research, Innovation & Entrepreneurship to learn more about Conestoga’s researchers, facilities and research centres.