Navdeep Bains, Minister of Innovation, Science and Economic Development (ISED), is inviting Canadian teams to apply for a $30-million Patent Collective pilot program that will assist SMEs with their patent and IP needs. The successful applicant will create a non-profit organization to help companies in a selected sector to use their IP more strategically. The pilot project is part of the government’s five-year, $85.3-million Intellectual Property Strategy, which seeks to provide Canadian business with access to high-quality IP resources through education and advice, tools for growth, and IP legislation. Businesses with formal IP are three times more likely engage in product innovation than those without IP, and 64% more likely to be high-growth.

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