U of A brings entrepreneurial expertise to nationwide ‘lab to market’ networks | News

The University of Alberta is a key partner in four national networks receiving more than $95 million in new federal funding to help usher innovative ideas and inventions from universities and colleges across Canada to the marketplace.

"When researchers move their breakthroughs from the lab to the marketplace, they fuel economic growth, create good jobs, and keep Canada competitive," says Terry Duguid, minister of sport and minister responsible for Prairies Economic Development Canada, who announced the funding this morning at Red River College Polytechnic in Winnipeg.

"These four projects are complementary, ensuring that we provide training and support innovation across the institution and our community," says Darren Fast, associate vice-president of innovation, knowledge mobilization and partnerships at the U of A.

"This advances the goals of supporting our researchers and broadening our impact, which will lead to enhancing our global reach in innovation leadership as identified in Forward With Purpose, the U of A's strategic plan for research and innovation."

The new funding will be allocated over five years through Lab to Market grants from the Natural Sciences and Engineering Research Council of Canada. The grants include $22.9 million to expand the National Invention to Innovation (i2I) Network led by Simon Fraser University, $16.3 million for the new Sustainable Food Systems for Canada platform out of the University of Guelph, $24.1 million for the College-University Lab to Market Network for Entrepreneurship & Research Commercialization headed up by Red River College Polytechnic, and $32 million for the Lab2Market network led by Dalhousie University.

The four networks will provide skills training, mentorship opportunities and industry connections for researchers and entrepreneurs who aim to launch or grow startups and translate their ideas into practical, market-ready applications.

As one of three U of A leads on the four nationwide networks, Fast will collaborate with the College-University Lab to Market Network and the Lab2Market network to provide training on the commercialization of research results. Part of the work will be helping trainees recognize what might have commercial potential, as well as providing tools to help them commercialize technologies and other advances.

The U of A is the lead institution for the Alberta hub of the Lab2Market network and recently launched the 16-week Lab2Market Validate program, which takes participants through the process of unlocking the business potential of their research ideas. The Validate program is currently funded by PrairiesCan, Alberta Innovates and Mitacs, and will be delivered jointly with the University of Lethbridge and Innovate Calgary.

Tony Briggs, executive professor in the Department of Strategy, Entrepreneurship and Management in the Alberta School of Business and executive director of the eHUB Entrepreneurship Centre, will lend similar expertise to the i2I Network.

Rickey Yada, dean of the Faculty of Agricultural, Life & Environmental Sciences and a leading expert in food science and technology, will bring his extensive administrative and academic experience to the Sustainable Food Systems network.

"The U of A has a wealth of experience and expertise in fostering entrepreneurship, commercializing research and building partnerships," notes Fast. "Being part of these networks with dozens of partner institutions and organizations will help us cultivate a talent pool of entrepreneurs across Canada who have the skills to match their desire to make an impact on the world."

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