Springboard IP Advantage helps Atlantic Canadian startups grow with IP support
December 19th, 2023
From the Springboard Content Lab
Springboard Atlantic IP Advantage hit the ground running in 2023, awarding $1.5-million to 56 Atlantic Canadian startups to protect their technologies and grow their companies with Intellectual Property support.
The funding will help these high-potential companies develop IP strategy and implementation.
Showcase highlights six recipients of IP support in 2023
In December, Springboard IP Advantage hosted a live showcase to highlight six of the 56 companies awarded IP funding in 2023. Entrepreneurs appeared before an audience at Tribe Network in Halifax, to discuss their technologies and show how IP Advantage will help them.
Zen Electric, Ravi Kempaiah, CEO, Dartmouth – promotes sustainable transportation by developing long-lasting batteries for e-bikes, motorbikes and three-wheelers.
Lab 4 Inc. Nifemi Oguntuase, CEO, Dartmouth, NS – specializes in recycling lithium-ion batteries and clean mineral extraction.
Myomar Molecular Inc., Dr. Rafaela Andrade, CEO, Halifax, NS – developed an easy-to-use urine test to track muscle loss, improve fitness and enhance recovery after a muscle injury.
Parados Cerebral Solutions Inc., Pascal McCarthy, CEO, Fredericton, NB – developed an AI-powered tool that improves sport performance and recovery with precise metrics.
Swiftsure Innovations, Deanne McCarthy, CEO, Pasadena, NL – developed a medical device for washing the oral cavities of patients on ventilators, helping prevent pneumonia.
Begin.AI, Rima Al Shikh, CEO, Halifax, NS – Develops software to personalize the gaming experience of users.
Why is intellectual property important?
- IP enables the growth and competitiveness of high-potential firms.
- It is a valuable business asset.
- It can increase your competitive edge over others.
- It can help build brand recognition and reputation.
- Statistics show that small or medium-sized businesses that hold formal IP are:
- 4x more likely to export
- 2x more likely to be high-growth
- 27% more likely to seek financing
IP Advantage has two two funding streams.
1. IP strategy puts startups in touch IP professionals who help them develop an executable strategy
- The startup must be less than 10 years old and have an affiliation to an Atlantic Canada Business Accelerator or Incubator
- Start-ups work with Springboard Atlantic IP Advantage teams to develop applications
- Award amounts are 90 percent of costs up to $50,000
- Funding is paid directly to providers to develop an executable strategy
2. The IP Strategy Implementation Program introduces start-ups to experts who assist with implementing IP strategies
- Eligibility is limited to start-ups that have attended awareness events
- Start-ups work with Springboard Atlantic staff to develop applications
- Award amounts are 90 percent of costs up to $25,000
- Funding is paid directly to providers to implement an executable strategy
Springboard Atlantic IP Advantage is the Atlantic Canadian delivery partner for Elevate IP, supported by Innovation, Science and Economic Development Canada. Launched in July 2023, IP Advantage works with business accelerators and incubators to help startups understand, strategically manage and leverage their IP . For more information on how to apply to the program, contact Springboard IP Advantage . Springboard Atlantic is powered by the Atlantic Canada Opportunities Agency.