Ontario Centres Of Excellence Inc.

Ontario Centres Of Excellence Inc.
PARTEQ Innovations

PARTEQ Innovations

June 15, 2009 07:30 ET

More Bang for the Buck as Ontario's Commercialization Leaders Join Forces to Bring Promising Technologies to Market

TORONTO, ONTARIO and KINGSTON, ONTARIO--(Marketwire - June 15, 2009) - Two of Ontario's leading organizations for the commercialization of research are joining forces to accelerate the development of promising discoveries by the province's researchers and entrepreneurs.

The Centre for Commercialization of Research (CCR) - launched in November by Ontario Centres of Excellence (OCE) and the Networks of Centres of Excellence of Canada - and PARTEQ Innovations, the technology commercialization office of Queen's University at Kingston, Ontario, have signed an agreement to work together to advance exciting technology innovations across Ontario.

Although this partnership marks the first formal relationship between the two organizations, there's no ice-breaking needed between the two parties, said CCR's Managing Director, Dr. Mario Thomas.

"With this collaboration, CCR builds on the successful relationship OCE has had with PARTEQ for some time. For several years, our two organizations have worked together to fund and develop some incredible made-in-Ontario technologies. Now we have the premier facilitator of early-stage research in Ontario and the leading technology transfer office directing their resources and expertise towards a common goal: making Ontario a leader in Canada's innovation economy by commercializing breakthrough technologies."

Last year OCE was awarded nearly $15 million from the federal government to establish CCR. By providing a focal point for OCE's commercialization efforts, it complements and extends existing research, talent and commercialization programs to cover the innovation continuum from the initial research idea to market success. OCE and PARTEQ both have more than 20 years of experience in growing companies, creating jobs and advancing novel ideas to market. The two groups will leverage their strengths in technology development funding, industry and business contacts, intellectual property protection and commercialization. "This endeavour is about mutual benefit," said John Molloy, CEO of PARTEQ.

"We have a tremendous working relationship with OCE, which we can grow through this new partnership. Sharing our expertise, resources, and access to opportunities will ensure that the optimal commercialization resources can be dedicated to specific projects. No single institution can create a commercialization infrastructure to cover all areas of research. It is only by networking and working together that we can maximize our commercialization success and get these ideas into the marketplace."

There are already a number of opportunities on the horizon for CCR and PARTEQ including the recently-announced GreenCentre Canada, a national Centre of Excellence for commercializing Green Chemistry discoveries; and a newly signed collaboration agreement between PARTEQ Innovations and the People's Republic of China Innofund, a non-profit government fund focused on supporting the innovation activities of small and medium sized companies in China.

The CCR-PARTEQ collaboration will be led by Randall North, formerly Executive in Residence and Associate Director of Commercialization at PARTEQ. Mr. North is a professional engineer with more than three decades of experience in engineering, product development and marketing of advanced technologies. He is a graduate of the University of New Brunswick and Carleton University.

About PARTEQ Innovations (www.parteqinnovations.com)

PARTEQ Innovations is the not-for-profit technology transfer arm of Queen's University. PARTEQ works with researchers and the business and venture capital communities to bring early stage technologies to market. Since 1987 PARTEQ has been instrumental in the establishment of more than 40 companies developing a variety of products, from potential drugs for Alzheimer's, cancer and heart disease to automated bacteria detection for water systems, solar-powered appliances, and advanced materials used in the plastics, automotive, aerospace and household appliance industries.

About Ontario Centres of Excellence (OCE) Inc. (www.oce-ontario.org)

Ontario Centres of Excellence (OCE) Inc. drives the commercialization of cutting-edge research across key market sectors to build the economy of tomorrow and secure Ontario's global competitiveness. In doing this, OCE fosters the training and development of the next generation of innovators and entrepreneurs and is a key partner with Ontario's industry, universities, colleges, research hospitals, investors and governments. OCE's Centres work in communications and information technology, earth and environmental technologies, energy, materials and manufacturing and photonics. OCE is funded by the government of Ontario and is a key partner in delivering Ontario's Innovation Agenda. OCE through its Centre for Commercialization of Research (CCR), an initiative supported by the Networks of Centres of Excellence of Canada, also acts as a catalyst which allows innovative businesses to grow and achieve sustainable, commercial success and global competitiveness.

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