Springboard Atlantic has announced that it will lead Atlantic IP, the regional component of a new federal program that will help entrepreneurs develop, leverage and protect their intellectual property.

The federal government unveiled its Elevate IP program in the 2021 budget, saying it would cost $90 million over four years and help Canadian startups to understand how to profit from their IP. Late last month, Springboard and Innovation, Science and Economic Development Canada, or ISED, released a joint press release announcing the rollout of the program in Atlantic Canada under the name Atlantic IP.

It will be offered in collaboration with business accelerators and incubators throughout the region and run until 2026.

“Maximizing the potential of IP has been a growing focus across our region for over a decade,” said Springboard President and CEO Daryl Genge in a statement. “Sound IP strategy is key to competitiveness of our high-potential firms. The Atlantic IP Initiative will ensure our region’s startups have the support they need to leverage their IP in the marketplace and will significantly contribute to their success and our region’s overall growth.”

Springboard Atlantic is a not-for-profit network that works with Atlantic Canadian post-secondary institutions to encourage the commercialization of academic research. Its network comprises industry engagement representatives at 19 universities and colleges. They understand Atlantic Canada’s funding landscape, provide intellectual property support and training, and act as connectors between researchers and industry.

The Atlantic IP Initiative is designed to help Atlantic Canada’s accelerators and incubators increase IP capacity within the Canadian innovation ecosystem and ensure supports are accessible and inclusive. It aims to assist startups in the development and implementation of IP strategies through training opportunities.

The programming will be delivered  in both official languages for all stakeholders, including underrepresented groups. The initiative will include funding for IP protection.

“Atlantic Canada is home to great ideas, great products, great innovators, and a strong drive to succeed,” said ISED Minister François-Philippe Champagne. “Harnessing these assets and competing in a rapidly changing global environment are key to achieving sustained economic growth in Atlantic Canada.”