The Centre for Commercialization of Research (CCR) was created in 2008 to help build the Canada-wide commercialization network crucial to supporting the innovation necessary for economic growth. Ontario Centres of Excellence (OCE) established CCR as a division of OCE, under the Centres of Excellence for Commercialization and Research (CECR) program, funded by the Networks of Centres of Excellence (NCE). During its four-year run, CCR generated significant social and economic benefits for Canada by accelerating the successful commercialization of ideas emerging out of research from publicly funded Canadian academic and research institutions.
CCR worked exclusively with high-potential early-stage entrepreneurs and innovative enterprises to help these emerging businesses grow to the point where they could attract private investment, and ultimately become sustainable, global competitors. Offering assistance and advice on issues such as management, marketing, technology (intellectual property) strategy, product development and financing, CCR helped client companies with the business side of innovation.
At the conclusion of the CCR program in March 2013, CCR had provided customized business advisory services to 992 Canadian companies, and directly funded the commercialization efforts of 86 companies. With CCR’s assistance, these enterprises have achieved remarkable growth and will continue providing innovative solutions to important societal problems, creating local jobs and breaking into global markets. Notable financial and economic achievements of CCR-supported companies include:
- Creating 16,300 cumulative jobs and generating $740 million of GDP between 2009/10 and 2011/12
- Attracting an estimated $140 million in follow-on financing in 2011/12
- Earning over $320 million in total revenue between 2009/10 and 2011/12
Beyond having a substantial impact on its client companies’ success, CCR achieved numerous socio-economic benefits that have value for all Canadians, including:
- Generating $42 million of GDP through its activities at no net cost to Canadian taxpayers
- Creating 840 cumulative jobs
- Accelerating the commercialization of groundbreaking medical, communications and environmental technologies which will potentially improve Canadians’ lives
CCR also made great strides in constructing the national and international framework to help define best practices for commercialization worldwide. CCR founded and led the development of the International Commercialization Forum (ICF), which held its first event in 2011. By 2013 it attracted 90 innovation leaders from 22 countries to share ideas and approaches to building robust, sustainable companies founded on the discoveries of publicly funded research.
OCE is pleased to further the work initiated by CCR and will continue to engage with client companies to help them succeed in the future. OCE looks forward to advancing CCR’s work as a catalyst for the commercialization efforts of important research innovations through its other programs.