Springboard launches IP Advantage program
Springboard Atlantic, a member-based network of 19 post-secondary institutions in Atlantic Canada that connects industry with research, is pleased to announce the launch of the Atlantic IP Advantage program to help start-ups create Intellectual Property (IP) and protect their innovations and ideas.
Atlantic IP Advantage will support innovative businesses develop and implement IP strategies to set them up for success.
“We tend to lag behind other jurisdictions around our commercialization activity,” said Daryl Genge, CEO of Springboard Atlantic. “Developing IP strategy is one of the biggest challenges faced by Canadian companies.”
IP Advantage aims to boost intellectual property protection in Atlantic Canada
The program is designed to increase the number of companies holding IP in Atlantic Canada by raising awareness, providing training, conducting IP domain research, creating strategy, and executing that strategy.
Atlantic IP Advantage Director Niraj Shukla said the program will give Atlantic Canadian start-ups a competitive advantage in the national and international marketplace
“If they understand how IP works and how it can be used to position their company in the market, they can decide how to focus their time and invest their dollars in the business.”
He said there is more intellectual property being created in the Atlantic Canadian innovation ecosystem, but there are still gaps in IP awareness, training and financial resources in the ecosystem.
Eligible start-ups can apply for $50K for IP strategy; $25K for implementation
Tech companies can apply for up to $50,000 in funding to develop an IP strategy. There is an additional $25,000 available to execute the strategy. Both funding opportunities cover 90 percent of total costs with the company covering 10 percent.
Business that are accepted into the Atlantic IP Advantage Program will be guided by a team of IP counselors at Springboard. They will work with start-ups, accelerators and incubators raise awareness, provide education sessions and connect them to IP experts to execute IP strategy.
To qualify, the start-up must be affiliated with a business incubator or accelerator. There is also a mandatory training requirement before applying to the program.
Once a company has completed the training with its startup incubator partner, its leadership can apply for the funding to hire lawyers and consultants to help it develop and implement an IP strategy, including internal controls to protect IP from suppliers, as well as more obvious steps, like filing patents.
IP lawyers and experts are invited to run initial workshops, training and professional services. They will be paid directly by the Springboard program.
Springboard is delivery partner for federal Elevate IP
Springboard Atlantic’s IP Advantage is the delivery partner for the federal Elevate IP initiative which was created as part of Canada’s National Intellectual Property Strategy. In 2021 the federal government invested $90 million over four years to help innovative startups and technology-intensive businesses leverage their will provide start-ups with tools to leverage their IP.
Atlantic IP Advantage is one of five regional programs to execute IP training and funding across Canada. The funding is coming from Innovation, Science and Economic Development Canada, or ISED.
Founded in 2004, the Springboard Atlantic is a network of 19 universities and colleges in Atlantic Canada that connects industry with research to solve problems and promote innovations which boost productivity in Atlantic Canada. The network is supported by ACOA.