[news 2009 - 2010]

Queen’s technology transfer office signs collaboration agreement with China Innofund

For immediate release

March 4, 2009

KINGSTON, ON -- PARTEQ Innovations, the technology transfer office of Queen’s University is pleased to announce a collaboration agreement with The Innovation Fund Administration Center for Small Technology-Based Firms, People’s Republic of China Ministry of Science and Technology.

The agreement reflects a commitment by both parties to enhance the commercialization of promising research-based technologies and to assist small technology-based firms in bringing their products to market.

Under the terms of the agreement, the two partners will extend their commercialization services to selected technologies that each party believes will benefit from the other’s  expertise or resources. Services may include consulting, funding, intellectual property management, product development and testing, incubation and/or licensing of technologies in respective Chinese or North American markets. 

The agreement was formally signed at a reception honouring the Innofund delegation at Queen’s University at Kingston, Ontario, during the group’s five-day visit to Canada. The PARTEQ-hosted Canadian visit included meetings with representatives of the Ontario and Canadian governments, as well as with members of Canada’s venture capital and business communities.

“This is an exciting opportunity for both of our organizations,” says John Molloy, President and CEO of PARTEQ Innovations. “We look forward to working with Innofund in finding and developing promising technologies that will benefit both of our countries.”

“The desire to innovate is universal, and we are pleased to see our respective groups pursuing a shared goal of bringing new discoveries to market,” says Kerry Rowe, Vice-Principal (Research) at Queen’s.  “This university has had a cordial and productive relationship with China for many years, and it is gratifying to see PARTEQ continue this tradition of strategic partnerships with our Chinese colleagues.”    

About Innofund:

The Innofund (Innovation Fund for Small Technology-based Firms) is a nonprofit government fund established in 1999 under China’s Ministry of Science and Technology. The Innofund’s mandate is to support the innovation activities of small technology-based firms registered in China, and to facilitate the transformation of research achievements through financing.  The organization’s annual investment budget of $300 million is directed at small firms (<500 employees) involved in R&D, production and services in new and high-tech industries. Innofund’s targeted sectors include electronics and information technology, biotechnology and medicine, advanced materials, automation technology, environmental resources, new energy and energy conservation.  

www.innofund.gov.cn

Contacts:

John Molloy, President & CEO

PARTEQ Innovations
P: 613. 533. 6000 x 77478

E: jmolloy@parteqinnovations.com 

Davis Hill, Manager, Commercial Development

PARTEQ Innovations

P: 613. 533. 6000 x 78463

E: dhill@parteqinnovations.com