Ontario companies with fewer than 500 employees will now be able to access funding to help them protect their intellectual property (IP) and develop their commercialization strategies thanks to a new Brock University program.
Under the Brock University Small and Medium-sized Enterprise (SME) Intellectual Property (IP) Support Program companies can apply for up to $10,000 for IP-related services.
"Protecting intellectual property can be crucial for SMEs to maintain their competitive edge, but many face significant financial challenges in this area. This program helps overcome those challenges by offering targeted financial support," says Bradley McLean, Associate Director of Innovation, Commercialization and Partnerships at Brock LINC.
In addition to the program's size and location requirements, companies must currently own, or be creating, IP that has commercial potential and must intend to commercialize that IP in Ontario.
Participating companies must also be associated with Brock University, either through a developing or established research partnership or membership with Brock LINC, the University's innovation hub.
McLean says "all innovative sectors" will be considered for support, particularly those dealing with mining, computing and data analytics, artificial intelligence, health and life sciences, advanced manufacturing, agriculture sciences and agri-tech, sustainable energy and clean technology.
"This new program aligns with Ontario's broader push to enhance IP capacity and commercialization across the province," says McLean. "By supporting SMEs in protecting and developing their IP, we're contributing to a more robust and competitive business landscape in Ontario."
The new funding can support a variety of IP-related services, including patent filing and prosecution costs; trademark registration; copyright protection; IP landscape analysis; IP strategy development, valuation and evaluation; and commercialization planning related to IP.
This new program is part of the University's commitment to supporting economic development in Niagara across Ontario, says Brock LINC Executive Director Farzana Crocco.
"Brock LINC fosters collaborations between Brock's researchers, innovative companies and our own talented entrepreneurs, providing access to knowledge and expertise. By partnering with Brock LINC, businesses and startups can accelerate their R&D processes, protect their innovations, and benefit from our extensive network of industry connections." she says.
Support for Brock University Small and Medium-sized Enterprise (SME) Intellectual Property (IP) Support Program comes from Intellectual Property Ontario (IPON), an Ontario government agency program designed to support innovation and IP commercialization in post-secondary education.
Earlier this year, IPON announced funding of $299,158 for a one-year project that will help to build the University's capacity for commercialization as part of a larger support program for post-secondary institutions across the province.
For more details email McLean at bradley.mclean@brocku.ca
