Q: What is IAC?
Innovation Asset Collective (IAC) is an independent, membership based not-for-profit selected by the Canadian Government’s Department of Innovation, Science and Economic Development (ISED) to assist Canadian small and medium-sized enterprises (SMEs) in the data-driven cleantech sector with their IP needs.
Led by experts in Intellectual Property (IP) education, strategic counsel, IP generation, and patent access, IAC helps Canadian SMEs understand and harness the value and power of their IP so that their innovations can be commercialized and protected for the benefit of the Canadian economy.
Q: Why does Canada need an organization like this?
Traditionally, Canada has been a large importer of IP – the currency of today’s global economy – but we have struggled to create strategies for the global economy driven by IP and data. The creation of IAC, with support from ISED, marks a big step towards building Canada’s capacity to be a leader in a global economy driven by innovation, improving Canada’s reputation as a world-class IP system, and providing Canadian businesses with practical IP information and advice.
Q: Why is an IP strategy so important?
Intellectual Property (IP) and data are the most valuable assets an SME has, including Canada’s data-driven cleantech companies. A successful IP business strategy is critical for SMEs to maintain their competitive advantage as they grow.
Canadian SMEs aware of or holding formal IP are 3.0 times more likely to have expanded domestically and 4.3 times more likely to have expanded internationally. (Source: The Canadian Intellectual Property Office)
SMEs who use more than one type of IP increase their odds of high-growth. Specifically, SMEs that have filed at least one European IP right are 26% more likely to experience a subsequent growth period, and 17% more likely to become a high-growth firm. (Source: European Patent Office)
Q: How is IAC funded?
IAC is supported by the Canadian Government’s Department of Innovation, Science and Economic Development (ISED).
Q: Who can join IAC?
IAC membership is open to entrepreneurs and SMEs (1-500 employees) in the data-driven clean technology sector. Regardless of where a business is on their journey, IAC will work with them to address their specific IP needs.
Q: What are the costs of IAC Membership?
IAC Membership is $15K annually.
Q: What does IAC Membership offer?
IAC members have access to a collective with services to help them overcome many of the barriers they are likely to face as they scale and grow. IAC provides:
- Assistance with the costs of filing and prosecuting patents
- Protection against non-practicing entities
- Access to a collective of global expertise in IP analytics, IP strategy, education, and patent licensing
- Networking opportunities for Canadian SMEs interested in IP
Q: How can I learn more about IAC?
To learn more about IAC Membership, contact firstname.lastname@example.org