In a partnership that now spans a decade, Empowered Startups and Mitacs continue to deliver direct funding for applied research at Canadian universities. Though overall financial support for university research and development has lagged in Canada this century, Empowered Startups and Mitacs have collaborated in leveraging and multiplying industry-funded investments to Canadian universities since 2013. This funding is much needed for a vital and, all too often, neglected component of Canada’s innovation sector, as well as for the betterment of Canadian businesses.
Through its Canada Start-up Visa program, Empowered Startups incubates international entrepreneurs as they build their innovative businesses in Canada. As their ideas and business plans begin to take shape, many founders need excellent research and development resources in order to bring their innovations to fruition. Empowered uses its strong relationship with Mitacs to not only pair these projects with the correct environments at Canadian universities, but also to enable an additional funding mechanism through Mitacs that both enhances and accelerates the development process.
“As someone leading an organization with a mandate to foster research and to see the product of that research implemented in practical commercial applications, it’s been rewarding to reflect on the tremendous benefits our work with Mitacs has produced for so many stakeholders over the past ten years,” remarked Chris Lennon, President of Empowered Startups. “Working with Mitacs has been advantageous for the Canadian university R&D ecosystem, as well as for our entrepreneurs on multiple levels. The obvious benefit is additional funding for Principal Investigators, their laboratories and their student researchers, but it’s also another source of validation for our founders. Qualifying for Mitacs’ Accelerate program requires that the research being undertaken is shown to be advancing the state of the art through the Mitacs’ peer review evaluation. Earning that seal of approval from domain experts is a validation of their process and their vision.”
Stimulating investment into R&D from the private sector is a necessary pursuit in Canada. As recent statistics from the Organization for Economic Co-operation and Development (OECD) indicate, Canada is falling well short of world standards in terms of Business Expenditure into Research and Development (BERD). This shortcoming was well-explained in a detailed article in the Globe & Mail last month, and further highlights the importance of such funding in this country. This is precisely the type of direct industry investment Empowered Startups and Mitacs are driving into applied research at Canadian Universities through their partnership, providing a tangible model that can mutually benefit private business, university R&D and the Canadian economy.
“Empowered Startups repeated engagement with Mitacs’ programs is a testament to the effectiveness of our initiatives in fostering entrepreneurship,” stated John Hepburn, CEO, Mitacs. “Their continued participation showcases the tangible benefits our programs offer, driving innovation, fostering talent, and propelling Canada towards a brighter, more competitive future.”
With more proposals and projects in the pipeline, both companies are confident the next decade will provide even more opportunity for collaborative innovation within the Canadian university ecosystem. By continuing to set the example, Empowered Startups and Mitacs are optimistic that more Canadian businesses will take an active role in creating a prosperous future for the country and its citizens by investing in university research and development.
More information on Empowered Startups Canada Start-up Visa program can be found here, while further information on the various programs Mitacs facilitates can be found at https://www.mitacs.ca/
