Province expanding program that supports intellectual property

Ontario is investing up to $8 million to help the province’s colleges, universities and research institutions commercialize and protect the intellectual property (IP) on new discoveries they make.

The funds will go toward expanding the services of Intellectual Property Ontario (IPON), which was launched as a pilot project in 2022. It provides education, protection and commercialization services for postsecondary research.

Intellectual property is unique knowledge attributed to the inventor behind a creative work. Creators can protect against copycats by developing an IP strategy, which includes the filing of patents.

IPON provided funding for the Northern and Rural Innovation Cluster, a one-year initiative involving Laurentian University in Sudbury, Lakehead University in Thunder Bay, Nipissing University in North Bay, and Trent University in Peterborough that helped educate researchers and developers about navigating the IP process.

The $8 million, announced by Premier Doug Ford at the IPON provincial summit on April 29, will expand the program with the following:

Co‑investment in research‑driven intellectual property, with IPON covering up to 80 per cent of eligible costs for participating postsecondary and research institutions.

A new Innovation Fellowship Pilot Program, which will provide up to 180 entrepreneurs at Ontario’s postsecondary institutions with three months of financial support, entrepreneurship training and intellectual property education to bolster their ideas.

Enhanced technology transfer and commercialization services through collaboration among Ontario’s world-class postsecondary and research institutions.

According to the province, IPON has supported more than 1,400 small and medium-sized businesses in the fields of life sciences, artificial intelligence, medical technologies, agriculture, mining, and more.