Springboard Atlantic, an industry network that aims to foster the commercialization of research, including by helping young businesses develop intellectual property strategies, is receiving $9.8 million of operating funding over the next three years from the Atlantic Canada Opportunities Agency.

The funding package, which includes an additional $5.2 million from Springboard’s member organizations for a total of $15 million, was announced Friday at an event held at The Labs — a facility owned by Invest Nova Scotia that provides laboratory space for startups.

“I don’t think there’s any other growth potential in Atlantic Canada that’s greater than our technology community and our research community,” said CEO Daryl Genge. “We’re very focused on supporting the growth of the economy in areas that are priorities to Atlantic Canada.”

Founded 20 years ago, Springboard has helped organize collaborative research projects worth more than $6 billion, Genge added.

One of the organization’s flagship services of late has been its IP Advantage program, which provides training and funding to East Coast companies to pursue intellectual property protections for their innovation. Startups can apply for funding of up to $50,000 and have up to 90 percent of their costs covered, with an additional $25,000 available to execute the strategy.

“If you are a small startup or industry looking for someone to help you move your innovation forward, to act as the engine room for your research and development advancement, Springboard makes that possible,” said Springboard Chair Michael Maguire.

The organization will hold two events honouring its 20th anniversary this month, one at the Université de Moncton May 7 through 9, and one in Newfoundland close to the end of May, with more details to come.