2011-Q2

Q2 2011 Newsletter

Welcome to TSI's Q2 2011 newsletter, a quarterly publication distributed to our valued clients, strategic partners, and colleagues. Highlights of this issue include:

  • Feature Article: The Benefits of Industry Collaboration with Academia for Product Development
    • See how collaborating with post-secondary academic institutions can offer a low-cost method of developing and commercializing your intellectual property at a rapid rate
  • Company News: TSI announces manufacturing cost reduction consulting services
    • TSI is pleased to announce the launch of a risk-free materials cost reduction service offering designed for manufacturers
  • Funding Program Profile: OCE Market Readiness
    • We present a profile of the OCE Market Readiness grant program designed for startups who co-develop technology with an academic institution

Best regards,

Jason Schwandt, Vice President, Business Development

 

FEATURE ARTICLE: The Benefits of Industry Collaboration with Academia for Product Development

Would your business benefit by bringing new products to the marketplace faster? Are you interested in commercializing new innovations and retaining a competitive advantage? By collaborating with a post-secondary academic institution, you can do all this and more by utilizing the skills of Ontario’s best and brightest post-secondary or post-graduate students.

Ontario’s colleges and universities actively participate in collaborative projects within multiple industry sectors, and provide a large pool of research talent and facilities. To assist small-to-medium sized businesses, several government grant funding programs exist which promote this collaborative relationship between the company and the college or university (see our description of the OCE Market Readiness Program in this newsletter as an example). These programs are in place to encourage strong relationships between academia and industry to accelerate innovation and improve productivity and competitiveness in Ontario-based companies. Some available programs include:

  • Internships in specific areas of study or high-value sectors
  • Developing and commercializing intellectual property (IP)
  • Early stage pre-commercialization development
  • Late-stage development of clean technology projects
  • Solving technical challenges that have a commercial impact

How should you choose the right post-secondary institution to help you? There are a few basic guidelines to help you navigate to either the college or university stream, and from there, to organizations which can help identify the specific institution best equipped to provide assistance with your project and within your company’s timelines.

In general, universities are better-suited to long-term projects of about 2 – 3 years, in which pure research is a large component. Colleges are better-suited to short-term projects of about 6 – 12 months, in which applied research is a large component. Although in both instances research will be applied to solve challenges within the company project, the approach and methodology can be quite different. Activities supported through this collaborative effort may include:

  • Product and process applied research
  • Engineering design
  • Technology development
  • Product testing
  • Proof of concept
  • Piloting and demonstration
  • Problem solving

In some cases, and depending on the nature of the project, colleges or universities may reach out to one another during the project to acquire skill sets which may not be available within their own environments. As an example, in a project to develop a bacteria-killing product for food surfaces, the college may provide the kitchen space and some applied research, whereas the university would provide a bio-scientist who would measure the level of bacteria after the product is applied.

Post-secondary collaborative programs are designed to provide mutual benefit to the company and college/university. Companies gain access to research resources, and can accelerate timelines to get new product to market and complete the project through the resource cost sharing afforded by the program funding. Colleges/universities have an opportunity to integrate research into the student learning process, provide students with exposure to business operations & industry project timelines, and enable access to high-value full-time jobs in a variety of industry sectors. They also gain access to funding which assists the researcher to further their field of study while contributing to a required or desired industry solution and which maximizes the industry partners’ investment.

TSI has strong relationships with many academic institutions throughout Ontario and can help facilitate introductions for companies interested in collaborative development, as well as recommend additional grant programs which may be applicable. For more information on how collaboration may be right for your company, contact TSI today.


COMPANY NEWS

Bringing onboard a team with over 20 years of procurement and supply chain expertise, TSI is pleased to announce the launch of a new service offering that focuses on strategic manufacturing materials cost reductions. Ideal for manufacturers with over $5M in materials spend, this service offers a no risk opportunity to reduce costs of key materials by typically 5-12%. Through a streamlined process of identifying line items with a high level of opportunity and negotiating with incumbent and alternative suppliers, this offers an impartial and objective approach to substantial and responsible cost savings. Companies can rest assured that in addition to lower costs, they will receive equivalent or better service levels through a supplier performance monitoring program. In addition, the program offers clients the ability to remove themselves from potentially uncomfortable situations (such as transitioning suppliers) by allowing an expert negotiator to improve supplier pricing and terms.

For more information on how TSI can help you improve your profitability via a cost savings program, contact Jason Schwandt at 905-738-6770 x2010.


FUNDING PROGRAM PROFILE: OCE Market Readiness Program

Each quarter we profile a new funding program. This quarter, we present a summarized profile of the OCE Market Readiness program

Description:

  • Sponsored by the Ontario Centres of Excellence, this grant is designed for start-ups and supports the development of Intellectual Property from Ontario universities, colleges and hospitals, and advancing it towards successful commercialization. The program supports key activities such as technology and market assessment, IP protection, prototype development, business plan development, and mor

Eligibility Requirements:

  • Applicants must be a newly-created start-up company that partners with an academic institution
  • The applicant company must have a meaningful Ontario presence, but does not have to be a Canadian or Ontario-owned company

Valuation:

  • Funding covers primarily labour, along with ‘reasonable’ materials
  • Typical investments range between $10K and $75K per project, requiring matching contributions (cash and /or in-kind) from the applicant company
  • Funding flows to the academic institution first

Submission requirements:

  • Working with an OCE Business Development Manager to first assign goals, a commercialization plan and application are required
  • Applications should be jointly developed by the industry partner and academic researcher, with submission generally from the academic institution

Application Acceptance Criteria:

  • Funding is discretionary, whereby applications are competitively assessed

For more information about the Market Readiness program or other funding programs, please contact TSI.


CONTACT US

For more information about any of the content in this newsletter, or to arrange a complimentary consultation, please contact Jason Schwandt, VP Business Development, at 905-738-6770 x2010