New Federal Government Funding for Applied Research and Commercialization

by Peter Forint, BA, MBA, GBM

Do you know the best kept business secret in Ontario?  It’s that college professors and students are available now to work side by side with you on your commercialization projects  - and, they come with funding support from the federal and provincial governments!

Ontario’s college professors and students will work to create solutions for small- and medium-sized businesses (SMEs) involved in:

·         Product and process applied research

·         Engineering design

·         Technology development (including I.T.)

·         Piloting and demonstration

·         Problem solving

·         Product testing

Under the new Federal Economic Development Agency for Southern Ontario Applied Research and Commercialization Initiative, participating colleges can match 2 : 1 the project contributions of the SME to a maximum of $50,000 :  $25,000.  The SME contribution can be a cash investment or in-kind, such as the time of their own staff.  And the SME retains the rights to the Intellectual Property developed during the projects.   Eligible program costs include labour, materials, supplies, and non-capital equipment.  Work can take place at the school or on-site at the business.  (If FedDev ARC doesn’t fit, colleges can also collaborate under other government programs.)

You may be wondering what type of facilities colleges have to offer.  Well, they vary from school to school.  For example, Durham College, with whom I am working, offers many state of the art facilities including an integrated manufacturing centre with full CAD and rapid prototyping; world class water, chemical and biomedical laboratories;  and media arts and design studios.

A brief phone call will determine potential fit for your project and eligibility for the different funding programs.  Find your local college contact at http://www.conii.ca/member-colleges.html.

The government wants quick results and is looking for “shovel ready” projects for completion by March 31, 2012, perfect for summer jobs and co-op programs.

Peter Forint is a management consultant with Wardell Professional Development and an industry liaison at Durham College.  For more information on this topic, contact him at (905) 721-2000 x 6530 or peter.forint@durhamcollege.ca.