$68M funding supports five new commercialization centres

Vancouver, BC – Five new commercialization centres are receiving support from the federal government to support their research and development activities.

In Vancouver, for example, the Accel-Rx Health Sciences Accelerator will receive $14.5 million over five years to support new companies that are commercializing Canadian health sciences research. Services include providing access to investment capital, potential partners and business services.

Funding totalling $68.1 million over five years is being awarded to the following centres:

• Accel-Rx Health Sciences Accelerator (Vancouver)
• Centre for Commercialization of Antibodies and Biologics (Toronto)
• Centre of Excellence in Next Generation Networks (Ottawa)
• Medical Devices Commercialization Centre (Ottawa)
• NEOMED (Montréal)

The funding is the result of the most recent competition in the Centres of Excellence for Commercialization and Research (CECR) program. CECRs match clusters of research expertise with the business community, facilitating the development of products and technologies at a stage in the commercialization process where it is difficult to attract private-sector investments.