LONDON, ON - WORLDiscoveriesTM, a new technology transfer consortium formed by London's research institutions, will develop small- and medium-sized enterprises in the region, creating 250 jobs and generating $50 million in investment over the next three years.
Technology transfer initiatives play a significant role in job creation and economic development by turning research and development into practical applications and products that can be commercialized through industry.
This joint venture between Lawson Health Research Institute and The University of Western Ontario, including Robarts Research Institute, capitalizes on the institutions\' combined research strengths related to medical and health-related sciences, energy and the environment, and new materials. The London region is recognized as a national leader in these key areas, and the city has identified them as opportunities for further growth.
"By encouraging greater collaboration within specific sectors of importance, WORLDiscoveriesTM will help London leverage existing strengths into increased innovation and job creation,\" says Ted Hewitt, Western\'s Vice-President (Research & International Relations).
The city\'s three existing technology transfer offices, which attract nearly $5 million in licensing income annually and have spun-off five new companies over the past two years, are already among the most successful in the country. One notable collaborative success has been the licensing of Dr. Ting-Yim Lee\'s CT Perfusion technology to GE Healthcare, which is worth several million dollars annually. Dr. Lee's discovery provides physicians with valuable and time-saving information about blood flow to a patient\'s brain following stroke. The technology is found in thousands of CT scanners worldwide and helps physicians determine if a patient has had a stroke, the extent of it and whether they should administer clot-busting drugs.
This new one-stop-shopping model, operated in close collaboration with other city partners - including Fanshawe College, the National Research Council, TechAlliance, the Stiller Centre and the London Economic Development Corporation - will bring research discoveries to market more quickly by fostering stronger relationships with private sector partners.
The end result will be: more jobs, more innovative ideas and a more robust knowledge economy for London, for Ontario and for Canada
The new city-wide WORLDiscoveriesTM office will:
- Establish London and region as the key commercialization hub for new technologies in the medical and health-related sciences, alternative energy and environment, and new materials fields;
- Provide a single point of contact for researcher-inventors and companies seeking to access technologies from public sector institutions/inventors in London;
- Provide a vehicle for non-institution-based inventors to have their technologies assessed and, as appropriate, commercialized;
- Provide a single platform for acquisition of resources from partner companies, and through provincial and federal agencies;
- Help streamline technology transfer activities across institutions.
Contact:
Douglas Keddy
Research Communications Coordinator
The University of Western Ontario
519-661-2111 ext. 87485
dkeddy@uwo.ca
