Vancouver Island: New Home to More Inventors and Investors
Vancouver Island post-secondary students and researchers who want to launch businesses have a new resource to help them take their research to the marketplace. Thanks to more than $1 million in federal funding, the University of Victoria’s Innovation and Development Corporation (IDC) is expanding its services to assist four other post-secondary institutions: Camosun College, Royal Roads University, Malaspina University-College, and North Island College.
IDC’s mandate is to move research and innovations into both the public and private sector, through partnerships, licensing of technologies, and the formation of new spin-off companies. As well, it provides one of Canada’s most comprehensive packages of tech transfer services to students—graduate and undergraduate—at the same level it gives to faculty.
“This initiative is the first of its kind in British Columbia,” says Nina Grewal, Member of Parliament for Fleetwood – Port Kells, on behalf of the Honourable Carol Skelton, Minister of National Revenue and Minister of Western Economic Diversification Canada and the Honourable Gary Lunn, Minister of Natural Resources. “The newly-formed Vancouver Island Technology Transfer Centre will help develop innovative research and commercialize new technologies for international markets.”
The initiative is also strongly supported by the three federal granting agencies—the Natural Sciences and Engineering Research Council, the Social Sciences and Humanities Research Council of Canada, and the Canadian Institutes of Health Research—with a total of $930,000 over three years. This funding is part of their joint Intellectual Property Mobilization program designed to encourage Canadian universities, hospitals and colleges to work together in accelerating the transfer of knowledge and new technology for use in the Canadian economy. Western Economic Diversification Canada has contributed $232,500.
“It’ll enable university and college students and faculty to more effectively transfer their innovations to the marketplace which, in turn, will create local jobs and opportunities for partnerships,” says the Honourable Murray Coell, Minister of Advanced Education and Minister Responsible for Research and Technology. “What’s more, it’ll be great for regional economic development.”
“Currently at UVic, student invention disclosures make up approximately 20 per cent of IDC’s annual projects,” says UVic President Dr. David Turpin. “In fact, of the 24 spin-off companies that IDC has helped found since 2002, seven have been exclusively with UVic students. I’m excited that students and faculty from across Vancouver Island will now be able to take advantage of these services. ”
“The synergies emerging from this new partnership will not only help our students,” says Camosun President Dr. Liz Ashton, “but they will also foster the development of Vancouver Island’s advanced technology sector which—when it comes to the growth of the total number of companies—is currently growing faster than in any other region in B.C.”
Since 1992, IDC has helped found 37 new companies, based on UVic research or UVic student entrepreneurial initiatives. These include B.C. businesses producing vaccine and diagnostic solutions for aquaculture, secure electronic forms, environmentally safe herbicides, laboratory information management systems, and market research for e-commerce platforms.
The announcement took place today at the Vancouver Island Technology Park (VITP), which is owned by UVic. Through VITP, UVic provides a range of commercial space for UVic research-generated spin-off businesses and outside high-tech companies. UVic is the only university in B.C. to own its own research park.
Click here for the backgrounder.IDC’s mandate is to move research and innovations into both the public and private sector, through partnerships, licensing of technologies, and the formation of new spin-off companies. As well, it provides one of Canada’s most comprehensive packages of tech transfer services to students—graduate and undergraduate—at the same level it gives to faculty.
“This initiative is the first of its kind in British Columbia,” says Nina Grewal, Member of Parliament for Fleetwood – Port Kells, on behalf of the Honourable Carol Skelton, Minister of National Revenue and Minister of Western Economic Diversification Canada and the Honourable Gary Lunn, Minister of Natural Resources. “The newly-formed Vancouver Island Technology Transfer Centre will help develop innovative research and commercialize new technologies for international markets.”
The initiative is also strongly supported by the three federal granting agencies—the Natural Sciences and Engineering Research Council, the Social Sciences and Humanities Research Council of Canada, and the Canadian Institutes of Health Research—with a total of $930,000 over three years. This funding is part of their joint Intellectual Property Mobilization program designed to encourage Canadian universities, hospitals and colleges to work together in accelerating the transfer of knowledge and new technology for use in the Canadian economy. Western Economic Diversification Canada has contributed $232,500.
“It’ll enable university and college students and faculty to more effectively transfer their innovations to the marketplace which, in turn, will create local jobs and opportunities for partnerships,” says the Honourable Murray Coell, Minister of Advanced Education and Minister Responsible for Research and Technology. “What’s more, it’ll be great for regional economic development.”
“Currently at UVic, student invention disclosures make up approximately 20 per cent of IDC’s annual projects,” says UVic President Dr. David Turpin. “In fact, of the 24 spin-off companies that IDC has helped found since 2002, seven have been exclusively with UVic students. I’m excited that students and faculty from across Vancouver Island will now be able to take advantage of these services. ”
“The synergies emerging from this new partnership will not only help our students,” says Camosun President Dr. Liz Ashton, “but they will also foster the development of Vancouver Island’s advanced technology sector which—when it comes to the growth of the total number of companies—is currently growing faster than in any other region in B.C.”
Since 1992, IDC has helped found 37 new companies, based on UVic research or UVic student entrepreneurial initiatives. These include B.C. businesses producing vaccine and diagnostic solutions for aquaculture, secure electronic forms, environmentally safe herbicides, laboratory information management systems, and market research for e-commerce platforms.
The announcement took place today at the Vancouver Island Technology Park (VITP), which is owned by UVic. Through VITP, UVic provides a range of commercial space for UVic research-generated spin-off businesses and outside high-tech companies. UVic is the only university in B.C. to own its own research park.
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