Springboard Atlantic receives $9.6 million from ACOA

Springboard Atlantic, an organization that helps companies commercialize through partnerships with universities and colleges, is set to receive $9.6 million over three years from the Atlantic Canada Opportunities Agency (ACOA), a regional development agency dedicated to growing Atlantic Canada’s economy.

The money is coming from ACOA’s Atlantic Innovation Fund, which supports the research and development of companies in the Atlantic region.

“For almost 15 years the Springboard Atlantic network has been applying practical research to address real industry problems.”

“Springboard Atlantic’s role is to match universities and colleges to private sector potential so that the valuable research our educational institutions are doing can be turned into products and services that people want to buy,” said Bernadette Jordan, minister of rural economic development. “This investment, through ACOA’s Atlantic Innovation Fund, will ensure Springboard’s excellent work can continue until March 2023.”

This investment adds on to contributions from Springboard’s 19 member institutions, which include Dalhousie University, University of New Brunswick and Université de Moncton, totalling $5.1 million. The funding will support 30 industry liaison officers at 14 universities and five colleges across Atlantic Canada, as well as six staff at Springboard’s head office in Halifax.

Officers work with post-secondary institutions to match publicly funded research and knowledge with private sector needs, with the goal of creating new services.

“For almost 15 years the Springboard Atlantic network has been applying practical research to address real industry problems,” said Daryl Genge, president and CEO of Springboard Atlantic.

“Our member institutions have helped companies at all stages capitalize on new opportunities and have been instrumental in fostering many of the region’s most innovative firms. This would not have been possible without the confidence and backing of partners such as ACOA. We are extremely pleased to continue our work with ACOA and all 19 members as we enter the next phase of our evolution and tackle even larger opportunities for Atlantic Canada.”

Image courtesy Unsplash. Photo by Stephen Walker.

Jessica Galang

Jessica Galang

Freelance tech writer. Former BetaKit News Editor.

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