Prime Highlights:
The Lab2Market program receives a $95 million investment to foster innovation and entrepreneurship across Canadian post-secondary institutions.
The program will provide researchers with tools, resources, mentorship, and financial assistance to bring ideas to market.
Focus on advancing entrepreneurship skills, commercialization capacity, and collaboration opportunities.
Key Background:
The Lab2Market program has received a substantial $95 million investment aimed at advancing innovation and entrepreneurship across Canada’s post-secondary institutions. This funding will support researchers at the University of Manitoba (UM) and other participating institutions, empowering them to bring groundbreaking ideas and inventions to market with the potential for global impact.
UM will join a network of four innovation hubs, led by Red River College Polytechnic, University of Guelph, Simon Fraser University, and Dalhousie University. These hubs will offer crucial tools, resources, and mentorship to enhance entrepreneurship skills and commercialization capacity. The initiative will also foster a culture of innovation within academic settings, benefiting both students and faculty members by providing access to expertise and digital resources that streamline the process of turning research into viable market solutions.
Dr. Mario Pinto, Vice President of Research and International at UM, emphasized the transformative impact of this funding, stating, “This funding is a game-changer for UM researchers and students, enabling them to turn ideas into real-world solutions for industry and society. By investing in Manitoba’s next generation of innovators, it will boost global competitiveness, grow the economy, and create a positive impact for all Canadians.”
One example of how the investment will be utilized is the development of an Indigenous model of agriculture, combined with inland aquaculture, aimed at creating a sustainable and circular economy for Indigenous foods and traditional medicines. UM researchers, in collaboration with Métis and First Nations communities, are exploring innovative farming techniques that could introduce new food products for local communities and the broader culinary industry.
The initiative is administered by the Natural Sciences and Engineering Research Council of Canada (NSERC) in collaboration with the Canadian Institutes of Health Research (CIHR) and the Social Sciences and Humanities Research Council (SSHRC), reinforcing Canada’s commitment to fostering innovation and economic growth.
