Springboard Atlantic, the not-for-profit network that drives the commercialization of academic research in Atlantic Canada, announced today that they are one of the Recipients of the Government of Canada’s ElevateIP Program. Thanks to an investment from Innovation, Science and Economic Development Canada (ISED) Springboard Atlantic will launch ElevateIP’s Atlantic IP Initiative. Emergence Bioscience Business Incubator is a partner in this initiative.
In Budget 2021, the government announced $90 million over 4 years starting in 2022-2023 to create ElevateIP. Springboard Atlantic joins Business Accelerators and Incubators (BAIs) from across the country who will receive funding to help achieve ElevateIP’s objective of providing the tools Canadian startups need to better protect, strategically manage and leverage their intellectual property (IP).
Atlantic Canada is fortunate to have numerous BAIs in the region to support ideation, commercialization and scale up of businesses for a multitude of sectors. ElevateIP’s Atlantic IP Initiative will help Atlantic BAIs to increase IP capacity within the Canadian innovation ecosystem, ensure supports are accessible and inclusive, as well as assist startups in the development and implementation of IP strategies.
“Maximizing the potential of IP has been a growing focus across our region for over a decade,” says Daryl Genge, President and CEO of Springboard Atlantic. “Sound IP strategy is key to competitiveness of our high-potential firms. The Atlantic IP Initiative will ensure our region’s startups have the support they need to leverage their IP in the marketplace and will significantly contribute to their success and our region’s overall growth.”
The Atlantic IP Initiative will create training opportunities throughout the region, in both official languages for all stakeholders, including underrepresented groups, that provides everything from basic IP understanding to building your own IP Strategy. The Initiative will support startups through all stages of the IP continuum, including support funding for IP protection.
“Atlantic Canada is home to great ideas, great products, great innovators, and a strong drive to succeed,” says Minister Champagne. “Harnessing these assets and competing in a rapidly changing global environment are key to achieving sustained economic growth in Atlantic Canada.”
All programs will be delivered through a series of regional collaborators and program staff, including regional counselors who will be IP practitioners with IP development and commercialization experience.
The Atlantic IP Initiative will launch early in 2023 and run until 2026.