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Government of Canada invests $9.2 million to bring more research to market
Investment encourages entrepreneurs, universities and colleges to turn research into new products and services
January 26, 2017 – Halifax, NS – Atlantic Canada Opportunities Agency
More entrepreneurs will collaborate with researchers at Atlantic universities and colleges to turn ideas into new products and services as a result of a $9.2-million investment from the Government of Canada. These partnerships will create jobs and new business opportunities for the middle class – and those working hard to join it.
The investment will go to Springboard Atlantic, a network of 19 academic institutions that works to turn promising research into new products and services.
The federal funding was announced today by the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA).
Over the next three years, the funding to Springboard Atlantic will support 30 commercialization officers throughout the Atlantic region. These officers will connect entrepreneurs with researchers so ideas can be transformed into products and services that can be brought to market.
The funding will also be used to help entrepreneurs and researchers protect their ideas through patent applications and other intellectual-property support.
Canada’s Innovation Agenda aims to make this country a global centre for innovation—one that creates jobs, drives growth across all industries and improves the lives of all Canadians.
This investment is made under ACOA’s Atlantic Innovation Fund, which encourages partnerships among private sector firms, universities, colleges and other research institutions to develop and commercialize new or improved products and services.
“Innovation can create entirely new jobs, markets and industries that never existed before. To do that, we need to turn ideas into solutions, science into technologies, skills into jobs and start-up companies into global successes. Partnerships between research institutions and industry are crucial in the development and commercialization of new technologies and products that could lead to the creation of new companies that provide well-paying jobs for Canadians.”
- The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA
“Atlantic Canadian businesses benefit from a deep talent pool that is being regularly replenished thanks to the region’s post-secondary institutions. Increasingly, we are able to retain this talent by linking highly skilled individuals with opportunities that match their abilities. Activities led by Springboard Atlantic Inc. are helping to create more opportunities for an educated workforce, strengthening talent retention and attraction in the process.”
- The Honourable Scott Brison, President of the Treasury Board and Member of Parliament for Kings-Hants
“Nova Scotia is world-renowned for its post-secondary schools and research capacity. Today’s investment only reinforces this reputation. By harnessing our rich educational resources to generate revenue and economic activity, organizations like Springboard Atlantic will continue to make significant contributions to the region’s prosperity.”
- Darren Fisher, Member of Parliament for Dartmouth-Cole Harbour
“The investment in Springboard Atlantic drives the regional commercialization network that facilitates industry collaborations and new ventures between Atlantic companies and institutions. This increases competitiveness and retains our graduates here in the region.”
- Chris Mathis, President and CEO, Springboard Atlantic
- ACOA’s innovation programming, which includes the Atlantic Innovation Fund (AIF) and the Business Development Program (BDP), is designed to help bring to market new products, technologies and services that will improve the competitiveness and productivity of the Atlantic economy.
- In 2016, the Government of Canada, through ACOA’s AIF, invested more than $35 million in 16 innovation and R&D projects in the Atlantic region.
- Springboard Atlantic is Canada’s only regional commercialization network with public post-secondary universities and colleges working together under a common commercialization mandate.
- Over the past ten years, Springboard Atlantic members have helped to create 126 new companies, generating over $12 million in licensing and royalty income; facilitated 725 patent applications with 150 patents issued; and assisted with the creation of over 1,500 technology transfer agreements.
- Atlantic Innovation Fund (AIF)
- Atlantic Growth Strategy (AGS)
- Government of Canada's Innovation Agenda
- Springboard Atlantic Inc.’s Website
Department of Innovation, Science and Economic Development
Phone: 343-291-2852 / 613-462-7094 (cell)
Director, Communications and Outreach
Atlantic Canada Opportunities Agency
Phone: 902-426-9417 / 902-830-3839 (cell)
President and CEO
Springboard Atlantic Inc.
Phone: 902-476-1641 (cell)
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