Georgian receives $300,000 investment to support small businesses

April 8, 2024

Georgian College will help small- and medium-sized businesses be more competitive in domestic and global markets, thanks to $300,000 in funding announced today from Intellectual Property Ontario (IPON).

Georgian will collaborate with Lakehead University – Orillia on this project, which aims to support Central Ontario businesses with their intellectual property commercialization activities through the college’s Research, Innovation and Entrepreneurship department.

Georgian is one of 10 postsecondary institutions to receive a share of $2.9 million from IPON. 

This project will lower barriers to commercialization for businesses, helping them to gain valuable, niche expertise and grow to meet the needs of our communities. We’re grateful for this funding, which will expand Georgian’s role in the commercialization ecosystem and help our industry partners to thrive in new areas.

– Kevin Weaver, President and CEO, Georgian College

Georgian’s Research, Innovation and Entrepreneurship department will create new resources to provide businesses with information, mentorship and expertise.

The project is expected to run for one year, starting this month, and will focus on five areas:

• Hosting workshops and learning sessions throughout Central Ontario to increase subject-matter experts’ knowledge about intellectual property and its commercialization.
• Training Georgian’s Research, Innovation and Entrepreneurship employees and Lakehead Orillia’s research office staff so they can identify and support subject-matter experts with high-potential intellectual property.
• Building resources to provide subject-matter experts with case management support for their intellectual property commercialization activities.
• Developing processes and tools to track and report commercialization support activities in the short and long terms.
• Issuing micro-grants to businesses so they can access intellectual property and commercialization expertise and services that Georgian’s Research, Innovation and Entrepreneurship can’t provide.

Funding to ‘translate research into commercializable innovations’

The Hon. Jill Dunlop, Minister of Colleges and Universities, announced the funding from IPON, a provincial agency that provides intellectual property support and services to enable Ontario businesses and researchers to innovate and grow.

To date, IPON has provided $6.6 million to eight colleges and 12 universities to support innovation and commercialization projects.

“We’re thrilled to extend funding to 10 new postsecondary recipients to support their efforts to build IP capacity and better support their researchers and innovators. This funding will help institutions across the province more effectively translate research into commercializable innovations, while ensuring the IP at their foundation is appropriately developed and protected,” said Dan Herman, CEO, IPON.