McGill University (McGill) and Intellectual Ventures (IV) have announced a partnership that provides an additional avenue for McGill faculty to commercialize their inventions and discoveries.
This partnership will enhance McGill’s access to global commercial markets for its innovations and will allow IV to invest in the work of McGill faculty in areas of interest to the company, such as next generation data centres, dynamic surgical enhancements, and green and sustainable chemistry. McGill will own the resulting patents, and IV will receive a license to commercialize them. The inventors will earn a share of the profits from inventions that are commercialized.
Under the partnership, IV will identify specific areas of interest where technical problems or market opportunities exist. McGill researchers and IV may then develop new inventions in these areas and could also engage in additional proof of concept development projects. This partnership is not exclusive, therefore allowing both McGill and IV to engage with others on matters related to intellectual property.
McGill joins a growing list of the world’s best universities that now work with IV to help them in the development and commercialization of certain new inventions.
“McGill is one of the best universities in Canada and has a well-deserved reputation for research excellence. The truly world-class inventors working at McGill will add tremendous value to our growing global network, and we look forward to bringing more McGill inventions to the world,” said Parminder Singh, President of Intellectual Ventures Canada.
“The commercialization of research outcomes is an important objective not just of researchers, but of most public and private funding programs as well,” said Rose Goldstein, McGill’s Vice-Principal (Research and International Relations). “We are excited to enter into this collaboration, because IV provides wide-ranging technical, financial, and commercial expertise that will help McGill researchers gain a better perspective of how commercialization of their inventions could have a positive effect on our communities, society, the economy, and the environment.”
About Intellectual Ventures
Founded in 2000, Intellectual Ventures (IV) is the global leader in the business of invention. IV collaborates with leading inventors, partners with pioneering companies, and invests both expertise and capital in the process of invention. IV’s mission is to energize and streamline an invention economy that will drive innovation around the world. Intellectual Ventures is a registered trademark of Intellectual Ventures Management, LLC (IV). www.intellectualventures.com