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The Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), has announced funding for Toronto Innovation Acceleration Partners (TIAP). FedDev Ontario has committed $6.5 million, through the Regional Innovation Ecosystem stream, for TIAP’s Venture Builder Program. Queen’s University is a collaborator under TIAP’s FedDev program. Queen’s will contribute to venture creation in therapeutics, medical devices, and health science AI by working with TIAP to accelerate the commercialization of Queen’s health science discoveries.

The FedDev Ontario funding will be matched by Queen’s University and will leverage TIAP’s expertise in technology evaluation, access management talent for health science ventures, and support the growth of health science companies into anchor companies in Southern Ontario.

“Queen’s University is delighted to collaborate with TIAP and its academic members in the recently launched Venture Builder Program,” says Kimberly Woodhouse, Vice-Principal Research. “Partnerships like these are critically important in ensuring that scientific breakthroughs are transformed into positive outcomes for human health.”

In addition to gaining access to TIAP’s expertise, networks and resources, Queen’s will receive funding over four years through TIAP’s FedDev Ontario funding award, which is expected to be invested in a number of companies selected by TIAP and Queen’s, with the remainder allocated to support specialized services delivered through Queen’s.

“TIAP is tremendously pleased that FedDev Ontario has recognized the importance of the health science innovation community. We look forward to working more closely with Queen’s University to expand current venture development programs and facilitate the path forward for new discoveries," says Parimal Nathwani, President and CEO of TIAP.

“Queen’s has an active portfolio of early-stage assets that will benefit from the Venture Builder Program,” says Jim Banting, Assistant Vice-Principal, Partnerships and Innovation.