ACOA Supports Pilot Project to Commercialize UNB Technologies

unbacoaFredericton MP Matt DeCourcey was at the University of New Brunswick (UNB) last week for World Intellectual Property Day, to announce an investment of $500,000 for the Innovate@UNB pilot project led by the Office of Research Services (ORS). MP DeCourcey made the announcement on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA).

“The Government of Canada is committed to cultivating a culture of innovation and establishing the right conditions for growth, ensuring the Canadian economy remains at the leading edge,” Minister Bains said. “ACOA’s approach to promoting innovation is to foster effective partnerships between businesses and research partners. Our programs support the critical role that universities, colleges and other research institutions play in working with businesses to develop and commercialize new products and services.”

The project involves engaging sector experts to leverage, promote and market technologies developed by UNB researchers, as well as enhance UNB’s technology transfer model in order to encourage new university-industry projects and partnerships.

“The University of New Brunswick is excited to have the support of the Government of Canada to find additional opportunities for 13 of the successful Atlantic Innovation Fund (AIF) projects we have had,” said David Burns, UNB’s Vice-President (Research). “It is an exciting opportunity to bring this valuable research to the attention of international businesses, and business networks to find additional value for the researchers, the university and Canada.”

The Innovate@UNB pilot project will help spur economic growth and strengthen the region’s capacity in moving promising technologies to commercialization success within growing sectors including IT, Biotechnology and Energy. ACOA’s $500,000 contribution is being made under its Business Development Program.

“Commercialization of technologies is one of the key drivers for economic growth,” said Fredericton MP Matt DeCourcey. “This project will help unlock innovation in the region, bridge the gap between the researchers and the industry and move the region to the knowledge-based economy necessary to succeed in today’s world.”

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