Intellectual Property (IP) is a legal concept that protects creators and innovators with ownerships and rights to their own work. IP laws encourage creativity and new ideas as innovators are financially incentivized and protected through IP rights.
Created by the Ontario provincial government, Intellectual Property Ontario (IPON) is an organization designed to drive economic growth for companies by leveraging their IP. IPON supports businesses, innovators, and researchers throughout their IP journey – educating them about IP, providing financial supports, and mentorship.
IPON recently launched programming to help Ontario-based entrepreneurs, researchers and small-and-medium sized enterprises protect their intellectual property (IP) and reach their full commercialization potential.
Funding Snapshot: Intellectual Property Ontario (IPON)
There are currently three programs offered by IPON – each with its own strengths and respective schedules.
IP Bootcamp
- The IP Bootcamp program is a 3-month course involving 3-5 hours of commitment per week.
- This program is designed for IP owners who need immediate access to IP funding and are eager to engage with IP experts and valuable IP resources.
- Funding Amount: Applicants can receive up to 20% to a maximum of $35,000 in funding for this program.
Partner Program
- The Partner Program is a 6-month bootcamp program led by a partner organization.
- This program is available to IP owners who are affiliated with an IPON partner organization such as an Ontario Regional Innovation Centre, OCI, Vector, and need additional IP support to complement their existing services.
- Funding Amount: Applicants can receive up to 20% to a maximum of $35,000 in funding for this program.
Self-Guided Program (Coming Soon)
- This program runs at the applicant’s own pace and schedule.
- This program is available for IP owners who want to learn and access services, including funding and education, at their own pace.
- Funding Amount: Applicants can receive up to $100K in funding for this program.
Eligibility and Program Deadlines
While each program has its respective purpose and funding amounts, IPON has a general criterion for applicant and project eligibility.
Applicant Eligibility:
To be eligible, applicants must demonstrate they:
- Are an Ontario-based small-and-medium size enterprise with fewer than 500 employees;
- Are in one of the following sectors: MedTech, life sciences, artificial intelligence, vehicle technology, and mining and advanced manufacturing as related to the aforementioned sectors ;
- Operate in Ontario and intends to grow the business in Ontario long-term; and
- Own IP or IP rights and intends to commercialize or monetize in Canada.
Project Eligibility:
Eligible projects must:
- Demonstrate the potential to realize societal or economic benefit to Ontario;
- Demonstrate the financial capacity to advance the protection and commercialization of IP and IP rights that may be supported by IPON Client Services; and
- Have an immediate IP need suited for IPON services and IP funding; or
- Be affiliated with a Regional Innovation Centre (RIC) or IPON key partner in Ontario if applying to the Partner Program.
Program Deadlines
For the IP Bootcamp program and Partner Program, the starting date is December 4, 2023. The intake period is currently ongoing.
For the Self-Guided programs, details are yet to be announced.
More Research & Development (R&D) Grants Across Canada
IP is just one aspect of supporting innovators and creators in Canada. To fund extensive research and development (R&D) projects and advance Canadian technologies, the government of Canada has a wide range of funding opportunities available.
Our free funding guide on IRAP vs. SR&ED provides businesses with a comprehensive understanding of the two major research grants and tax incentives. To apply for IPON or other research grants, we encourage businesses to reach out to us at Mentor Works, A Ryan Company – by guaranteeing a 95% time savings per application, we are certain we can help you complete the application process accurately and meet any deadlines.
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