Mitacs Canada has recently announced it will support a research partnership between Algae Dynamics Corp and the University of Western Ontario. As result of this research collaboration, cannabis and algae oils will be used to develop innovative pharmaceuticals and health products. Marijuana plant-based therapies are becoming increasingly more popular in treating various conditions such as, depression, post-traumatic stress disorder, anxiety and schizophrenia.
The innovative research project will receive up to $400,000 from Mitacs. This grant will accelerate an investigation on the role of cannabis for mental health therapies.
Research grants through the Mitacs Accelerate program pairs pristine knowledge from universities with businesses working to find solutions for challenges. This way businesses can access high-quality expertise from PhD and Masters students through 4-6-month internships.
Mitacs Accelerate Awards $400k in Grants for Innovative Research
Mitacs Accelerate has announced $400k in funding to support the collaboration between Algae Dynamics and the University of Western Ontario. Algae Dynamics develops unique pharmaceuticals and health products with ingredients like cannabis, algae oils and hemp. With funding through Mitacs, Algae Dynamics will conduct research on the effects of cannabis oil for cancer and mental health therapies.
Algae Dynamics will leverage up to $400,000 from the Mitacs Accelerate program for their innovative cannabis research project.
University staff, as well as three PhD students and three post-doctoral fellows will be devoted to the project; this significantly increases the quality and quantity of research that can be completed and can help Algae Dynamics develop safe, reliable cannabis-derived pharmaceuticals.
“We are thrilled to receive this support from Mitacs. This funding will provide outstanding mentorship opportunities for our research team.”
– Dr. Steven Laviolette, UWO Head Professor and Neuroscientist
Mitacs Accelerate: Canadian Research and Development Funding
The Mitacs Accelerate program supports research collaborations between innovative businesses and Canada’s top universities. These projects help companies solve challenges in innovative ways while leveraging external researchers and support services. Through Mitacs’ funding, companies can greatly offset the costs of working with leading universities across the country.
Through the Mitacs Accelerate program, businesses may receive up to 50% of a Master’s or PhD intern’s wages to a maximum $7,500 per 4-month period.
To apply for Mitacs Accelerate funding, companies must contact a Mitacs representative and gain access to application resources. Upon receiving the application, companies may complete and submit at any time. Typically, applications take six weeks to be reviewed.