Ontario Centre of Innovation’s Annual General Meeting Features New Programs and Showcases Return on Innovation
October 26, 2022
Minister Fedeli announces the launch of the Collaborate 2 Commercialize and Ready 4 Market programs.
Today, Vic Fedeli, Minister of Economic Development, Job Creation and Trade announced two programs launches at the Ontario Centre of Innovation’s (OCI) Annual General Meeting (AGM), which was both streamed and in-person at Toronto Metropolitan University.
“Ready 4 Market is Ontario’s leading pre-seed investment fund for Ontario-based start-ups with transformative technologies. Collaborate 2 Commercialize supports academia and industry collaboration to solve an industry‐based problem and drive the commercialization of intellectual property. These tremendous programs will help talented, driven people get ideas off the ground and work to make Ontario an economic and innovation leader,” said Minister Fedeli.
The Ready 4 Market (R4M) and Collaborate 2 Commercialize funding programs support Ontario innovators to develop and commercialize new technologies, accelerating time to market. Program information can be found online through the R4M and C2C pages of OCI’s website.
OCI’s 2021-2022 Annual Report was presented at the AGM, highlighting program investments into innovation projects across Ontario and the Return on Innovation:
- $218 million invested in collaborative R&D and commercialization projects, including $150 million in co-investments from industry and other partners
- 959 Ontario companies supported
- Creation and retention of 6,642 jobs
- $349 million in incremental sales revenues by client companies
- $800 million in private sector follow-on investments
Also taking place at the AGM was the awarding of the coveted Mind to Market winner.
The Mind to Market Award celebrates the best of OCI supported R&D collaborations between the business and research communities that result in commercialization of transformative leading-edge solutions and IP. Award recipients exemplify the innovation that is possible when the brightest minds in industry and academia collaborate to address critical issues.
“Congratulations to the winner, Genecis! Genecis converts food waste into biodegradable plastics and other high value materials. The Mind to Market award has a rich tradition within OCI as it recognizes extraordinary achievements in next-generation technology commercialization and celebrates ‘best in class’ R&D collaborations that drive the development of made-in-Ontario technologies,” said Claudia Krywiak, President, and CEO of OCI.
About the Ontario Centre of Innovation:
The Ontario Centre of Innovation (OCI) brings industry, academic, and government partners together to invest in collaborative R&D, technology development, and commercialization opportunities that generate the highest return on innovation for Ontarians.
As an ecosystem connector, OCI initiates unparalleled partnership opportunities, develops and manages successful industry-academic collaborations, supports high-potential SMEs in commercializing ground-breaking research, and provides hands-on training and skills development opportunities for the next generation of highly skilled talent.
OCI drives economic growth and job creation through investments in the development, commercialization, and adoption of advanced technologies. For more information: https://www.oc-innovation.ca
Alicia Pereira, Director of Communications, Ontario Centre of Innovation