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[news 2005-2006]
PARTEQ
Innovations awarded $3.1 million to help advance promising
research into commercial products
Ontario Research Commercialization Program funding
supports expanded role, broader pool of opportunities
for Queen's University's technology transfer office
For immediate release
July 24, 2006
KINGSTON, ON – PARTEQ Innovations, the technology transfer
office of Queen's University, is pleased to announce
that it has received $3.1 million under the Ontario
Research Commercialization Program (ORCP) to assist
it in advancing promising research discoveries into
the commercial market.
PARTEQ received the third-highest level of funding awarded
to universities under this new Government of Ontario
program, following University of Toronto ($5.6 million)
and the seven-member Southwestern Ontario university
network ($3.8 million).
The ORCP funding will support two major initiatives.
A total of $2.2 million is directed at expanding PARTEQ's
“reach” across the Kingston-Eastern Ontario region,
enabling it to seek out and support further development
of innovative technologies discovered at the Royal Military
College of Canada, Kingston General Hospital and St.
Lawrence College, and potentially at industrial partners
E.I. du Pont Canada Company and Novelis Global Technology
Centre. The ORCP funding is also aimed at increasing
PARTEQ's industry outreach and facilitating and enhancing
the research communities' awareness of industry needs.
A further $970,000 is earmarked for a “Proof of Principle”
fund, which will support early stage development work
of promising discoveries. PARTEQ will administer this
fund through its partnership with the Ottawa Technology
Transfer Network.
In a separate initiative, PARTEQ will take the lead
in administering $2.2 million awarded to the Ontario
Society for Excellence in Technology Transfer (OnSETT).
PARTEQ will assist OnSETT in establishing a provincial
training and internship program to address the need
for commercialization expertise at Ontario's universities
and research institutions.
“We are extremely gratified to see our proposals funded
to this extent,” says John Molloy, President and CEO
of PARTEQ. “This funding will enable us to broaden the
scope and reach of our activities in Kingston, and across
the province. Over the past two decades we have seen
that our approach to research commercialization works.
We now have to show that our approach will work on a
bigger scale. The ORCP program will give us funding
to increase our infrastructure so that we can offer
our services to a much broader research community.”
“For many years Queen's University has been a leader
in its support of research commercialization through
PARTEQ, and it is rewarding to see this commitment recognized
by the province,” says Dr. Kerry Rowe, Vice-Principal
(Research) of Queen's and chair of the board of PARTEQ
Innovations. “Through our participation in ORCP we look
forward to working with the province in growing its
economy through innovation.”
About PARTEQ Innovations:
PARTEQ Innovations is the not-for-profit technology
transfer arm of Queen's University. PARTEQ works with
Queen's researchers and the business and venture capital
communities to bring early stage technologies to market.
Since 1987 PARTEQ has been instrumental in the establishment
of nearly 40 companies developing a variety of products,
from potential drugs for Alzheimer's, cancer and heart
disease to automated bacteria detection for water systems,
solar-powered appliances, and advanced materials used
in the plastics, automotive, aerospace and household
appliance industries.
PARTEQ's spinoff and associated companies include Neurochem
Inc. of Montreal, Datec Coating Corp. of Milton, ON,
EnerWorks Inc. of London ON, Cytochroma Inc. of Markham
ON and AdapCS Canada Corp., AtheroChem Inc., BKIN Technologies
Ltd., Performance Plants Inc., Qubit Systems Inc. and
Pathogen Detection Systems Inc., all of Kingston, ON.
About the Ontario Research Commercilization Program:
The
Ontario Research Commercialization Program (ORCP)
is an initiative of the recently formed Ontario Ministry
of Research and Innovation, under the leadership of
Premier Dalton McGuinty. The first program of its kind
in Canada, ORCP supports the downstream development
of innovative technologies generated by universities,
research institutions and industry across Ontario.
http://www.mri.gov.on.ca/english/default.asp
Contact:
John Molloy
President & CEO
P: 613. 533. 2342
E: jmolloy@parteqinnovations.com
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