Montreal, QC September 10, 2003 Commercialization facilitator for the Universit de Montral, Univalor, says that Canada Economic Development is providing it with a repayable contribution of $4 million. It says this financial assistance will significantly enhance its ability to commercialize its partners’ university research results.
Research may be commercialized through the award of operating licenses to existing firms or through the creation of spin-offs utilizing technologies developed by university researchers. Univalor, which has some 15 such spin- offs in its portfolio, says it plans to create 24 new companies and 600 jobs, as well as to conclude 20 licensing agreements over the four years of the contribution.
“Our contribution to Univalor is consistent with the Government of Canada’s efforts to make this nation one of the world’s five leaders in the field of research and development by 2010,” says Claude Drouin, secretary of state responsible for Canada Economic Development. “Commercialization of university research and pooling of researcher and industry know-how are key means of creating new technologically oriented businesses and in supporting innovation within the nation.”
Founded in April 2001, Univalor’s mission is to commercialize research results from the Universit de Montral, its affiliated schools and most of its affiliated hospital centres.
It carries out technology transfer and facilitates the commercialization of innovations, by granting licenses and by creating spin-off companies. Institutional members of Univalor constitute a group that includes some 1,400 researchers with a total annual research budget of $211 million. Major activity sectors of include life sciences, engineering and applied sciences.
Univalor’s partners are the Universit de Montral, its two schools (Polytechnique and HEC Montral) and most of its affiliated hospitals, including Hpital Sainte-Justine, CHUM, Hpital du Sacr-Coeur, Hpital Maisonneuve-Rosemont, The Montreal Heart Institute and the Institut universitaire de griatrie de Montral.