Innovative Canadian companies can benefit from funding available for IP strategy and filings
Innovative Canadian companies should take notice of the new Elevate IP program that is getting ready to launch. It was created as part of the federal government’s National IP Strategy and is open to Canadian companies with 500 or fewer employees. Our firm can help your company navigate the application process for this program. Please contact your usual S&B attorney, or the authors of this article for more information.
ElevateIP is going to be implemented through a series of Canadian Business Accelerators and Incubators (BAI). The goal of the program is to help companies develop and implement IP strategies. This will include the opportunity to obtain funding to develop an IP strategy and implement the strategy through patent, trademark, or copyright filings. It is not common for government programs to pay for IP filings, so this is a significant advantage. The program will also increase IP knowledge through education programs.
The lead BAI include:
- Springboard Atlantic Inc. – Newfoundland and Labrador, Nova Scotia, New Brunswick, and Prince Edward Island
- Mouvement des accélérateurs d’innovation du Québec (MAIN) – Québec
- Communitech Corporation – Ontario, Manitoba, and Saskatchewan
- Innovate Calgary, Lethbridge Economic Development and University of Calgary– Alberta
- New Ventures BC Society – British Columbia, Yukon, Nunavut, and the Northwest Territories
Many other BAI have already been recruited to help implement the program.
The program will allow companies at all stages of their IP development to access fundamental IP services – whether it is to learn about IP, begin the development of an IP strategy, or to implement an IP strategy. As a result, many types of IP services can be funded through Elevate IP, allowing companies to develop and implement a proactive, holistic IP strategy. For example, companies that are trying to develop a brand may request funding for trademark strategy, due diligence searches or trademark filings. This is particularly important for innovative companies making consumer-facing products or services. Companies that are doing R&D and making inventions may get advice on patent strategy, due diligence searches, and the costs of patent drafting and filing. IP advice may be provided on other types of IP, such as copyright, trade secrets, and plant breeders’ rights. Funding may also be available for advice on protecting trade secrets.
To help your company put its best foot forward, our firm can help formulate an outline of a proposal for Elevate IP and to guide your company through the other IP funding programs that have been introduced as part of the National IP Strategy. For example, NRC/IRAP has a program called IP Assist, which funds IP strategy, not filings, for companies that qualify for IRAP support. It is possible to obtain funding from multiple programs for different tasks, and our firm can help with the process.