Belleville, Ontario, June 30, 2022 – The Province of Ontario issued its Commercialization Mandate Policy Framework in early 2022. The objective of Ontario’s Commercialization Mandate Policy Framework is to harness the intellectual property generated with the institution’s resources to achieve Ontario’s goal of ensuring that made-in-Ontario innovations benefit Ontarians.
Loyalist College of Applied Arts and Technology (Loyalist College) is committed to supporting Ontario’s Commercialization Mandate Policy Framework within the context of the role Ontario colleges play in applied research and innovation.
Loyalist College is uniquely positioned to collaborate with industry partners to advance innovation and facilitate commercialization of intellectual property in Ontario that creates economic and social benefits for our communities. In particular, applied research activities taking place at Ontario’s publicly funded colleges in partnership with small and medium-sized enterprises (SMEs) create innovative solutions to challenges being experienced in our communities in a variety of settings. These innovations will be a key driver for sustainable economic recovery, growth, and competitiveness in Ontario and will be critically important as we collectively emerge from the effects of the COVID-19 pandemic.
In order to increase innovation at the community and regional level, Loyalist College will continue to rely on funding from granting agencies, primarily federal agencies, as the operating funding provided to colleges does not reflect the overhead costs of exploring, developing and overseeing applied research projects.
Ontario’s Commercialization Mandate Framework provides an opportunity to advance the role of the publicly funded college sector in research and innovation. Loyalist College looks forward to continuing to support our partners in the commercialization of intellectual property to realize the full benefits for all Ontarians.