Atlantic Canadian post-secondary institutions will receive invaluable support in moving their cutting-edge research and development (R&D) from the lab to the marketplace, thanks to an $8.5 million federal investment in Springboard, a regional commercialization and industry network. The announcement was made today at the Université de Moncton by the Honourable Bernard Valcourt, Minister of State for the Atlantic Canada Opportunities Agency (ACOA) and La Francophonie.

"Our Government’s investments in the commercialization of university and college-based research and development are helping to build a stronger, more competitive and sustainable economy in our region," said Minister Valcourt. “This investment will help to support the creation of new and improved products, streamline processes and develop a skilled workforce that can compete successfully in the global marketplace. Ultimately, it will generate economic growth and jobs creation here, for Atlantic Canadian workers and families, which is our priority.”

“At Springboard, our fundamental belief is that research is what binds and strengthens the elements of economic development, giving ideas energy and new ventures confidence,” said Springboard Executive Director, Chris Mathis. “Bringing new ideas to the marketplace and competing successfully in a global economy takes skill, talent, and commitment, and this investment will enable Springboard and its member institutions to ensure that expertise is utilized and shared across Atlantic Canada’s university and college network, while further promoting commercialization and industry engagements across the region.”

The funding will be used to increase industry engagement in the commercialization of research through workshops and networking events; increase member cooperation, including inter-institutional technology transfers; enhance institutional and central office accountability and transparency, and; increase promotion of Springboard’s role in the region. The funding will also enable the creation of an Innovation Mobilization Program that will provide funding to support technology development, the implementation of marketing initiatives, the engagement of community partners on projects, and the support of start-up enterprises.

This federal investment is made under ACOA’s Atlantic Innovation Fund. ACOA has committed close to $709 million in AIF funding to 279 highly innovative R&D projects in Atlantic Canada over the past 10 years, valued at over $1.5 billion. The fund has been an important catalyst for many Atlantic Canadian businesses, universities and research institutions, creating close to 760 partnerships to help commercialize innovative ideas, products and services. Since Springboard’s research-intensive businesses have been established in Atlantic Canada, highly skilled personnel have been attracted to and retained in our region.

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