Help us help you: Federal funding for commercializing IP is available

If you are a small or medium-sized enterprise (SME) in Canada, you may be looking for ways to fund and protect your innovative ideas and grow your business. The question is, where can you find the resources and support you need?

One option for SMEs looking for funding and advisory services is to apply for the National Research Council of Canada’s Industrial Research Assistance Program (NRC IRAP or IRAP).

Participants accepted into IRAP may receive benefits including, but not limited to, the following:

  • Access to industrial technology advisors in various areas such as legal, financing and other professional advice;
  • Financial support for research and development projects at various stages of the innovation cycle; and
  • Access to the IP Assist Program to help SMEs commercialize intellectual property (IP). This program includes helping SMEs to understand their IP, develop an IP strategy and execute that strategy.

We previously wrote a blog post about the IP Assist Program in May and why your business needs an IP strategy.

Since writing that post, we have had the opportunity to guide many clients through the IP Assist Program and assist them with their IP strategies. Some of the immediate benefits of the IP Assist Program, that we have seen, include:

  • Increased understanding of your SME’s key IP assets.
  • Better IP understanding and training for key employees and officers.
  • Having your IP assets in order in case of a potential sale or merger.
  • Establishing a more aligned and consistent approach to branding and IP protection at an organizational level.

MLT Aikins has professionals across Western Canada who are equipped and registered to advise clients through the IP Assist Program. Our IP Assist support team includes lawyers, patent agents and trademark agents. If you’re interested in registering with IRAP to access IP Assist, we’d be happy to help.

Contact a member of our Innovation, Data & Technology team to learn more.