Launch Lab, Invest Ottawa, and Spark Centre are partnering to deliver the IP Assist program, designed to support early-stage and growth ventures in Eastern Ontario with IP. In partnership with IRAP and IP Assist, the program will provide a staged approach towards strategy, IP creation, and more.
The IP Assist Program is a program designed to support innovative companies so they can understand, map, and secure their IP opportunities. The program is free, and it is structured into two stages:
- IP Education & Awareness: Tech firms have access to a 2-hour consultation to help them better understand IP and how their innovations can be transformed into valuable assets.
- IP Strategy: Tech firms receive services valued up to $10K towards the development of an IP landscape brief that supports the firm’s business goals. The tech firm is required to pay a $250 administration fee upon approval.
In addition to these steps, tech firms will have access to an additional 2-hour free consultation with Launch Lab’s IP Advisor, Sean Murray, to address any concerns or opportunities regarding their IP.
Why take part in the IP Assist program?
With a worldwide competitive landscape where innovative tech firms from around the world compete to get market share, the role of IP is becoming an increasingly important factor of success. Having a basic understanding of the threats and opportunities of IP is fundamental to attract resources and differentiate a company in the eyes of clients. Even if you are at an early stage of developing your product, taking advantage of Level 1 of the program (the two-hour consultation) will help you to assess your current status and what the next steps are for your IP strategy. Here are some examples of how IP could impact some areas of your business that you may not have considered:
- Marketing – If the company has trademarks, they can include those in their marketing material. This can be helpful in protecting your brand.
- Sales – A unique IP can be a strong advantage for differentiating products from competition as it makes it harder for competitors to copy their products.
- HR – Confidentiality and IP ownership agreements with employees so the company owns the IP they developed.
- Accounting – The expenses for IP can be accrued.
- Revenue Generation – Patents can be licensed to other companies and can generate additional revenue. Patents can also increase the value of an exit.
- Investment – Ownership of IP property can represent a plus for an investor considering investing in your company. The ownership of your IP can also be a key element of the due diligence process.
How to take part in the IP Assist program
- Apply here to access the program and/or two additional hours of consulting with Launch Lab’s IP advisor. This link takes you to the intake form, hosted by our partners at Invest Ottawa, where you can select “Launch Lab” from the dropdown that reads, “Are you currently part of a program at one of these hubs?” This will route your form to our team.
- If you have any questions, please contact [email protected].