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ACOA’s Approach to Commercialization. Presentation to Genome Canada September 27, 2011. Why Focus on Commercialization?. Commercialization contributes and enhances economic benefits and enables firms to be more competitive;
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ACOA’s Approach to Commercialization Presentation to Genome Canada September 27, 2011
BUILDING A STRONGER ECONOMY TOGETHER • ENSEMBLE, POUR UNE ÉCONOMIE PLUS FORTE Why Focus on Commercialization? • Commercialization contributes and enhances economic benefits and enables firms to be more competitive; • ACOA has invested over $900M in R&D-related projects under its innovation programming; and • Investing in commercialization will increase the likelihood of success of those projects.
BUILDING A STRONGER ECONOMY TOGETHER • ENSEMBLE, POUR UNE ÉCONOMIE PLUS FORTE Atlantic Canada Commercialization Challenges • Lack of management expertise/experienced CEOs; • Attraction/retention of HQPs (marketing and technical); • Access to capital; • Access to latest market intelligence; and • Better customer/end-user engagement earlier in the innovation process.
BUILDING A STRONGER ECONOMY TOGETHER • ENSEMBLE, POUR UNE ÉCONOMIE PLUS FORTE ACOA’s Approach to Commercialization • Springboard Atlantic; • AIF Commercialization Framework; • Saint Mary’s University Commercialization Accelerator Program; • First Angel Network; • Business Development Program assistance for marketing, trade and innovation; and • Productivity and Business Skills Initiative.
BUILDING A STRONGER ECONOMY TOGETHER • ENSEMBLE, POUR UNE ÉCONOMIE PLUS FORTE Springboard Atlantic Inc. • Springboard Atlantic is a network of 19 Atlantic universities and colleges; • The network’s objectives include: • Increase commercialization of research within Network; • Liaises with industry and facilitates industry sponsored research; • Supports the creation of new companies based on platform technologies; and • Markets and licenses technologies to industry and entrepreneurs. • Currently in Phase III of project with an $8.5 million contribution over three years.
AIF Commercialization Framework • $5M/3-year AIF Commercialization Framework established in 2008; • Pillars of Framework include: • Commercialization Consulting program; • Investor readiness training and access to international markets; • Commercialization Training/Coaching project; and • Strategic sector/cluster support. • Framework activities are currently being reviewed to determine potential projects for renewal.
Other ACOA Commercialization Support Saint Mary’s University Commercialization Accelerator Program • Collaboration between SMU and MIT Sloan School of Business to provide Atlantic Canadian companies with CEO level mentoring.
Other ACOA Commercialization Support (cont’d) First Angel Network • Not-for-profit organization with the mandate of bridging the gap between entrepreneurs and capital in Atlantic Canada through communication, education and networking.
Other ACOA Commercialization Support (cont’d) Business Development Program (BDP) supports: • Development and use of new or improved technology or products in regional SMEs; • Marketing costs to encourage SMEs to secure additional marketing expertise, develop plans for improved sales, and to develop national and export markets; • Development and adoption of better business and technical skills in SMEs to increase competitiveness (Productivity and Business Skills Initiative).
BUILDING A STRONGER ECONOMY TOGETHER • ENSEMBLE, POUR UNE ÉCONOMIE PLUS FORTE ACOA Commercialization Strategy • Commercialization was identified by the Agency as a priority area during the last Program Renewal exercises (2008-2010); • Work on the development of an ACOA commercialization strategy began in May 2010; and • Allowed the Agency to review its commercialization activities and address areas of challenge.
AIF Results to Date • Fostering private sector commitment in S&T: Close to 760 partnerships created; private sector participation continues to be significant; and the percentage of institutional projects with a private sector partner has increased (100% in AIF VIII). • Leveraging investments: Almost $850 million leveraged from private sector, universities, research institutes, and other gov’t programs. • Magnet for talent: New scientists and researchers are being attracted to Atlantic Canada (over 1250 HQPs to date).
AIF Results to date (cont.) • Getting to Market: More than 250 technologies, products, processes and services developed through the AIF have been successfully commercialized, resulting in just under $250 million in incremental sales (AIF Rounds I-IV). • Strengthening the Knowledge Base: With hundreds of technologies, products, processes and services in progress (i.e. not yet commercialized), there is significant commercialization potential yet to be achieved for AIF recipients as R&D projects from other rounds are completed.
BUILDING A STRONGER ECONOMY TOGETHER • ENSEMBLE, POUR UNE ÉCONOMIE PLUS FORTE Strategy Findings Four key challenges related to commercialization: • Complexity of innovation/commercialization programming; • Innovation/commercialization programming is more focused on research and development and less on commercialization; • Access to capital; and • Skills and experience gaps.
BUILDING A STRONGER ECONOMY TOGETHER • ENSEMBLE, POUR UNE ÉCONOMIE PLUS FORTE Way Forward – Three Key Principles • Fostering a culture of collaboration between Atlantic Canadian commercialization players; • Cohesive and balanced investments across the innovation and commercialization spectrum; and • Fostering skills to effectively navigate the commercialization process.
