On Monday, the federal government announced that it was giving $38 million to Communitech as it has been chosen as one of five business accelerators and incubators nationally to be a part of the ElevateIP program.
The program is an initiative to help Canadian startups to protect, strategically manage, and leverage their intellectual property.
The money is to be used to provide startups with education and awareness for their intellectual property as well as the development and implementation of IP strategies.
“Canadian startups are some of the most innovative and inventive in the world,” Minister of Innovation, Science and Industry François-Philippe Champagne stated.
“That’s why our government is committed to supporting them so they can better protect and manage their IP.“
Communitech was one of five incubators chosen by the feds, with each being responsible for an area of the country. The Kitchener incubator will be asked to provide support for startups in Ontario Manitoba and Saskatchewan.
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“Encouraging and protecting made-in-Canada IP is critically important for the prosperity of the entire country,” Communitech CEO Chris Albinson stated.
“Communitech has the experience and talent to play a lead role in helping the government execute its IP strategy.”
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