Springboard to strengthen its industry focus with $8.5 million in new ACOA funding

Springboard Atlantic Inc is establishing a new fund to boost its technology commercialization efforts as part of new funding from the Atlantic Canada Opportunities Agency (ACOA). The $8.5-million investment over three years will facilitate the creation of the Innovation Mobilization Program (IMP) as part of a new strategic plan to be released this fall.

The latest investment marks the third time Springboard has received funding from ACOA through its Atlantic Innovation Fund. Now seven years old, the organization — formerly known as the Atlantic Research Commercialization Network — counts 19 universities and colleges among its membership.

"Springboard has a unique approach that pools and coordinates resources to attract additional funds and create centralized resources to accelerate and expand the commercialization cycle," says Springboard executive director Chris Mathis. "Our work leads to significant cohesion and multi-party projects so that inter-institutional activity is increasing."

new strategic plan due this fall

While details on the new strategic plan are scarce, a key element will be the expanded board of directors. Mathis says the decision to strengthen industry representation for an organization that represents academia throughout Atlantic Canada came from a number of individuals, not the least of whom was Dr Christopher Loomis, current board chair and VP research at Memorial Univ.

"It took a lot of courage. Universities are very competitive by nature, not collaborative but we now have major projects with universities working together in areas such as pest control and aquaculture," says Mathis, who moved into Springboard's top position in July after spending four years with the Univ of New Brunswick's office of research services focused on industry engagement. "This cooperation was rare in the past but it's about key strengths not geography."

With an initial $1.5-million allocation, IMP is intended to accelerate commercialization by providing funds for patenting, legal support, prototyping, proof-of-concept and marketing. IMP evolved from a past series of programs offered by Springboard but takes a different approach. There will no longer be competitive calls for proposals.

"We're trying to be more responsive to members," says Mathis. "We'll hold ourselves to internal metrics with each institution reporting on a quarterly basis."

Mathis says that while Springboard has work to do to demonstrate its impact in areas such as research capacity and research contracts, anecdotal evidence indicates its efforts are paying off with member institutions spinning off 19 new companies. Mathis expects this kind of activity to accelerate with the new strategic plan and the inclusion of colleges in its membership over the past three years.

"Springboard is the bridge between academic and industry environments. We have central resources for all members including 26 sponsored positions within individual institutions," he says. "We share best practices and find opportunities through local networking."

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