The Research Innovation Commercialization (RIC) Centre will provide assistance in bringing innovative products to market, mostly within the aerospace, advanced manufacturing, and life sciences sectors. This not-for-profit organization is a partnership between the Mississauga Board Of Trade, the University of Toronto-Mississauga (UTM), and the Ontario Ministry of Research and Innovation.
It was launched on June 10 at the Mississauga Convention Centre with distinguished guests including John Andrews, president of Neuraxon, Uli Krull, of the University of Toronto Mississauga, MPP Bob Delaney, Peel Region Chair Emil Kolb, and Mayor Hazel McCallion.
Jake Dheer, station manager at Rogers, and president of the Mississauga Board of Trade, was host and emcee of the event.
McCallion said, “Innovation and commercialization are key drivers to strengthen the economy. Businesses and communities that invest in innovation and support commercialization present the communities with the best quality of life.”
RIC’s list of services for entrepreneurs includes: Business Support & Path Finding, Business Mentorship for assistance with legal, marketing, and business development issues, Scientific Technical Services, Virtual Networking, Commercialization Events, Seminars & Workshops, Access to competitive market intelligence, and Access to the Ontario Commercialization Network for funding and business opportunities. The business-related services will be available at shared quarters at the Mississauga Board of Trade office, 701-77 City Centre Dr., while lab and science services will be offered at UTM.
The RIC Centre was preceded by the Western GTA Convergence Centre which started out as an “incubator” in 2004, operating out of Sheridan Park Research Facility. However, RIC Centre commercialization director Pam Banks explains that “the focus was more on networking, to strengthen links between the academic and business community”.
Last year the Ministry began looking at ways to provide more detailed service for innovators. In May, the province recreated the WGTACC into the RIC Centre, with the focus on commercialization.
She suggests it will create “a more open door” for both business and the research community into the regional innovation network, and bring such ideas “one step closer to market.”
“What the RIC Centre is really doing is taking it to the next level, to help companies connect,” she says. “It’s set up so we actually work more closely with these companies, and discuss their various challenges in getting their innovation to market”.
“The mentor pool we’re able to access is quite deep – be it sales and marketing issues, or manufacturing and distribution issues – because we’re part of the Ontario innovation network. We can connect them to so many resources. This will be a great opportunity for companies.”
Banks stresses that getting a prototype to market is always difficult. It’s commonly referred to as, “the valley of death.”
The Mississauga Board of Trade has stepped forward as RIC Centre’s lead partner.
“I think it’s important for the Board of Trade to be innovative, to support business -- and the RIC Centre will allow us to be at the forefront, to ensure we’re able to support research and see the product come to fruition,” says Board of Trade chair Jake Dheer. “I just think it’s an important thing for us to do. It’s a great partnership with the university (and the province).”
Dheer observes that there are a LOT of people with good ideas within Mississauga’s city limits alone, but needing direction. “You have a Eureka moment, and there’s nobody to tell it to,” he continues. “This is where they can call the RIC Centre. It can guide them, coach them, find them a mentor.”
Among the guest speakers at the RIC Centre’s unveiling, Mississauga Business Times editor Rick Drennan observes that in the past Canada has been, “so low-tech”, relying on the export of natural resources like water, coal, and wheat, while dedicating little energy to developing high-tech products.
