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Funding Announced For Growth In Technology Commercialization
Stephen Owen, Secretary of State (Western Economic Diversification) (Indian Affairs and Northern Development) today announced $1.2 million for WestLink Innovation Network Ltd. The funding allows the pan-western organization to continue its programs to accelerate technology transfer between academic institutions and industry, and to continue its innovative internship program to train technology managers in western Canada.
Western Economic Diversification Canada (WD) will provide $600,000 over three years to continue WestLink's core funding as well as $200,000 for a Technology Bundling pilot project. A business development officer will be hired to increase connections between WestLink member organizations with new technologies and Canadian companies that can commercialize them into marketable products.
An additional $400,000 will go towards phase two of WestLink's Technology Commercialization Internship Program that addresses the shortage of trained technology development managers by placing interns with host employers in three consecutive placements at university technology transfer offices, venture capital firms and technology companies across Western Canada.
"Today's announcement builds on WD's past support for WestLink," said Secretary of State Owen. "Through this highly successful partnership, WD is helping fulfill the Government of Canada's commitment to creating a well-educated, skilled workforce and helping the private sector adopt and benefit from leading-edge innovations, effectively tying together the two key elements of Canada's Innovation Strategy: Achieving Excellence and Skills and Learning."
"WestLink is extremely pleased to continue our strong partnership with WD," said Derek Gratz, President and CEO of WestLink Innovation Network Ltd. "WestLink is a catalyst to creating linkages among academia, government, business, and investment organizations to build a stronger, more interconnected innovation system in Western Canada. This will increase the ability for all stakeholders to capitalize on Canada's investment into infrastructure, education, and world class research."
WestLink is an innovative not-for-profit organization formed to facilitate collaboration, training, technology bundling and commercialization through a range of programs and services. Its membership consists of 23 western Canadian universities, colleges, and research institutes. WD contributed $625,000 to establish WestLink along with $400,000 for the first phase of the Technology Commercialization Internship Program.
Funding for this project was provided for in the December 2001 Budget and is therefore built into the existing fiscal framework.
For additional information, contact:
Joanne Mysak
Manager, Consultations,
Marketing & Communications .
Western Economic Diversification Canada
Saskatoon, Saskatchewan
(306) 975-5942
Derek Gratz
President & CEO
WestLink Innovation Network Ltd.
Calgary, Alberta
(403) 974-8470
http://www.westlink.ca/
WD Toll-Free Number:1-888-338-WEST (9378)
Teletypewriter (TTY): 1-877-303-3388
WD Website: www.wd-deo.gc.ca.
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Backgrounder
WestLink Innovation Network Ltd.
WestLink Innovation Network Ltd. was established three years ago to accelerate the successful commercialization of its membership's scientific inventions through collaboration, skill building and targeted, "gap-filling" programs and services. Originally founded with four universities, its membership has expanded to consist of 23 western Canadian universities, colleges, and research institutes.
In addition to creating a network within its members, WestLink has created links among venture capital firms, university spin-off companies, industry and the legal profession. WestLink members identify, protect, and commercialize technology developed at their institutions.
WestLink Technology Commercialization Internship Program (TCIP)
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The current two-year internship pilot program enabled 19 interns from across western Canada to develop an understanding of the issues that affect the successful commercialization of new inventions. Phase two of the program will train an additional 16 interns.
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To advance early-stage technology resulting from academic research to commercialization requires both scientific and technical knowledge, as well as a broad understanding of business practices and communications. These skills are needed to bridge the gap between the academic and business environments. Since commercialization occurs in a broader "innovation system", connections between the two is vital. The TCIP interns have developed professional linkages among themselves and with others in the innovation system, which has already led to some new commercialization agreements and investments in technology development.
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The interns gain practical work experience through three, eight-month placements across western Canada with host employers in a university technology transfer office, a venture capital firm and a technology company. This experience exposes them to western Canadian technology commercialization organizations and processes, allowing them to develop their skills and their network by working with experienced resource people in all three sectors.
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The internship starts with a weeklong bootcamp providing an opportunity for the students to learn from innovation leaders before they begin their work placements. Four additional training events are incorporated during the course of their placements.
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Western Economic Diversification Canada (WD), the Natural Sciences and Engineering Research Council and the Canadian Institute of Health Research, the Alberta Heritage Foundation for Medical Research and the four western provinces contributed over $1.3 million to the creation of the internship pilot program. WD is providing $400,000 to the second phase.
Technology Bundling Pilot Project
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WestLink will hire an additional business development officer to increase connections between its members that have new technologies and those Canadian companies who can commercialize them into products. The pilot project is focusing on two sectors, information technologies and courseware, and medical devices.
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WestLink will collaborate with stakeholders to develop forums and other opportunities that will bring together its membership and industry to explore ways to transfer these technologies for the benefit of the Canadian economy.
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Visit http://www.westlink.ca/ for more information.
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