Intellectual Property (IP) is a cornerstone of business strategy, enabling companies to protect inventions, creative works, and proprietary products. For Canadian businesses, understanding and leveraging their IP is essential for securing success and long-term growth in global markets.
Fortunately, if you're a small or medium-sized enterprise (SME) pursuing technology-driven innovation, you may be eligible for financial support from the federal government. Through the IP Assist program, SMEs can gain access to a range of resources to help enhance the value of innovations and accelerate commercialization goals.
The IP Assist Program offers a subsidy of up to a total of $50,000. The main goals of IP Assist are divided into three levels:
- Level 1–Awareness: Provides access to a network of advisors, resources, and federal partner organizations—aiming to increase your knowledge of best practices and improve understanding on how to leverage IP. (Funding available up to $1,000)
- Level 2–Strategy: Provides you with access to IP experts who can help develop strategies that are specific to your business goals. (Funding available up to $25,000)
- Level 3–Action: Provides your business with funding that enables you to access licensed legal services to execute your new IP strategy. (Funding available up to $25,000)
If you have never applied for federal funding, this process can seem complex, unfamiliar, and daunting. But it doesn't have to be—PCK can provide you with comprehensive support for IP Assist submissions. Our experts can help you to efficiently complete a proposal template, budget estimate, and scope of work for your application, while also incorporating other key considerations such as eligible and ineligible costs.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
