Press Release
McMaster University and Intellectual Ventures Partner on New Inventions
September 27, 2011 BELLEVUE, Wash. and HAMILTON, Ontario, Canada
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McMaster University (McMaster) and Intellectual Ventures (IV®) have announced a partnership that provides an additional avenue for McMaster faculty to commercialize their inventions and discoveries.
This partnership will help McMaster gain access to global commercial markets for its innovations, while providing financial incentives to McMaster researchers for submitting new invention ideas. The partnership allows IV to invest in the work of McMaster faculty in areas of interest to IV, such as next generation data centers, dynamic surgical enhancements, and green and sustainable chemistry. McMaster will own the resulting patents and IV will receive a license to commercialize them. The inventors will earn a share of the profits from inventions that are commercialized.
Under the partnership, IV will identify specific areas of interest where technical problems or market opportunities exist. McMaster researchers and IV may develop new ideas in these areas to create the next wave of game-changing technologies.
This partnership is not exclusive and allows both McMaster and IV to engage with others for intellectual property related matters.
"McMaster is one of the leading research institutions in the world and ranks first in Canada in research intensity. We are excited to work on new inventions with the talented McMaster faculty and help bring their inventions to the world’s leading companies," said Parminder Singh, president of Intellectual Ventures Canada.
"This agreement gives McMaster researchers one more option for commercializing their discoveries and inventions. We will work closely with researchers to determine if their projects would benefit from the unique technical, financial and commercial expertise IV brings to the table," said Elsie Quaite-Randall, executive director of the McMaster Industry Liaison Office. "McMaster researchers will also benefit from IV’s insight into the particular challenges and problems that the commercial market needs to solve."
