New entrepreneurship fellowships jointly funded by Ontario Brain Institute and Ontario Centres of Excellence aim to commercialize brain research and turn brain researchers into business owners
The Ontario Brain Institute (OBI) and the Ontario Centres of Excellence (OCE) are giving some of the world’s top young entrepreneurs the chance to turn their discoveries into viable neuroscience-based businesses. Through the OBI Entrepreneurs program, up to ten post-graduate (M.Sc., PhD and post-doctoral fellows) and early-stage entrepreneurs will receive $50,000 for one year to support the commercialization of their discoveries to help diagnose, treat or cure brain conditions.
Three of the OBI Entrepreneurs will be jointly funded by the OBI and the Ontario Centres of Excellence under the OBI-OCE Entrepreneurial Fellowships program. Entrepreneurs selected for this program will work full-time with the OBI and its partners from across Ontario on commercialization activities related to their neuroscience-focused opportunity.
“The OBI-OCE Entrepreneurial Fellowships is the first program to be launched under the Ontario Brain Institute’s Experiential Education Initiative,” said Dr. Donald T. Stuss, President and Scientific Director, Ontario Brain Institute. “This initiative aims to encourage entrepreneurial spirit, while providing practical experience and targeted training for neuroscientists across the province to help expand their post-research career options. Our partnership with the Ontario Centres of Excellence exemplifies the collaboration among government, industry, academic institutions and philanthropy that is needed to achieve significant research, improved treatment, and commercialization of outcomes for Ontario.”
The opportunity for neuroscience-based businesses is ripe in Ontario. Currently, the province is home to more than 500 top neuroscientists, placing Ontario as a leader in Canada with a number of world-recognized strengths in neuroscience research. At the same time, the global market for central nervous system diagnostics and therapeutics is estimated at $130 billion and is growing by 10 per cent per year.
“The world is hungry for the discoveries that young, leading-edge brain researchers are making in Ontario today,” said the Hon. Brad Duguid, Minister of Economic Development and Innovation. “This collaboration will help them bring their best ideas to market, improving the quality of life for Ontarians while creating good jobs and promoting economic growth.”
Applicants for the OBI-OCE Entrepreneurial Fellowships program must submit both a written funding application and a video application by May 28, 2012. See full program details.
See the press release here.