HAMILTON & HALTON, ON, April 25, 2024 – In celebration of World Intellectual Property Day, Innovation Factory announced the renewal of OwnershIP, an intellectual property program, delivered in collaboration with the national IP Assist Program. OwnershIP by Innovation Factory is tailored to guide start-ups and scaling companies through the complexities of intellectual property (IP), helping them form a strong IP strategy, critical for securing investments and achieving success in global markets.
The OwnershIP program provides personalized educational resources aimed at enabling business owners to identify their IP-related gaps and create a 3-5 year plan for safeguarding their business. Participants of the program benefit from up to $40,000 in legal insights and professional legal consultations as well as access to a national network and funding opportunities – thereby bolstering their IP knowledge, ensuring the protection of their assets, and facilitating business growth and scalability.
“Being accepted into OwnershIP by Innovation Factory has accelerated us into the next stages of trademarking and patent processes, marking a significant leap forward in our start-up journey. We have received valuable referrals, and support throughout the strategy development process with helpful resources and knowledge. With this expert guidance, we are on target to reach new milestones in the coming year, fully leveraging the program’s resources to protect and enhance our innovations,” shared Elizabeth Plouffe, founder of Spero Careers Canada on her experience with the OwnershIP program.
In the current start-up landscape, the protection of intellectual property is essential but is often perceived as overwhelming by many founders. The OwnershIP program makes IP more approachable through education and providing actionable advice during the vital phases and considerations in IP strategy development.
“Start-ups and scaling companies often underestimate the significance of intellectual property protection in their formative stages,” said David Carter, CEO of Innovation Factory. “OwnershIP was developed to empower entrepreneurs to safeguard their concepts, innovations, and technologies, enabling them to thrive and succeed in a global market.”
Since its 2023 launch, the OwnershIP program has exceeded expectations, receiving over 100 applications. It has supported entrepreneurs and start-ups in filing intellectual property worth over $190,000 in various sectors, including med-tech, fin-tech, advanced manufacturing, clean and sustainable technology, transportation, mobility, and agriculture. Additionally, Innovation Factory has partnered with eight law firms to assist participants in navigating the complexities of IP.
For additional information on OwnershIP by Innovation Factory, or to apply please visit: ownership.innovationfactory.ca ↗
About Innovation Factory
Innovation Factory is a not-for-profit business accelerator, serving as the catalyst for technology innovation in the Hamilton-Halton region. Innovation Factory provides business services, training, mentorship, and strategic connections to drive market adoption, leverage intellectual property, and increase revenues, investment, and jobs. Innovators can also access sector-specific resources including a formal life science and health innovation ecosystem and exclusive smart transportation test environments and data.
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