Fund will be one of Canada’s most significant university innovation programs awarding nearly $500k to spinoffs and technologies September 28, 2021 (MONTREAL, Quebec) – Today McGill University announced the launch of the McGill Innovation Fund, a funding program that will support both the development of innovative technologies as well as the spinoff companies that emerge from the University. The fund will be open to all McGill members who have declared a Report of Invention to the Office of Innovation and Partnerships. Although universities across the country make astounding discoveries each year, translating those discoveries into impactful products or services can be a challenge; in 2018, universities launched only 0.25% of new businesses in Canada. This is not a uniquely Canadian phenomenon; although internet giant Google emerged from a lab in Stanford University, it is only one of three companies from Stanford to earn more than $100 million in revenue. On top of this, most startup companies fail as they lack the funding necessary to survive through the so-called ‘valley of death,’ or the period of time between research and commercialization. “As a public institution, we have a commitment to bring the benefits of our research to all society,” said Suzanne Fortier, Principal and Vice-Chancellor, McGill University. “This new initiative will help us enable our research community to make a real difference in our communities, and to the world, by facilitating the transition between discovery and implementation.” The McGill Innovation Fund aims to close the funding gap and will provide as much as $475,000 in its first year, making it one of the largest funds of its kind in Canada, and the biggest in McGill’s 200-year history. Funds provided to the selected projects will be non-dilutive, and the University will not ask for repayment of the award. In addition to supporting prospective spinoff companies, the McGill Innovation Fund will also assist in the development of technologies, which can eventually become the nucleus for successful businesses. Many innovative projects fail because obtaining funding for developing prototypes and de-risking technology is challenging. In addition, the fund will be open to all Faculties at McGill, opening the door to support entrepreneurial projects that are less focused on technology and more on social impact. “As an innovator, I understand how crucial early seed funding can be to developing fledgling projects,” said Benoit Boulet, Associate Vice-Principal, Innovation + Partnerships. “The McGill Innovation Fund will help our researchers move their idea out of the lab and into the marketplace where they can make real impact on society.” The McGill Innovation Fund offers more than just money, however, as it will also provide fund recipients with one full year of support, including coaching, mentoring and access to a pool of service providers who have generously agreed to offer discounts to participating companies. The launch marks the opening of the application window, which will close on November 19, 2021. The first recipients will be announced in early December and funds will be distributed in January 2022. More information on the fund can be found at www.mcgill.ca/innovation
Google’s announcement last week that it would purchase a Manhattan office building for $2.1 billion is the latest in a string of blockbuster corporate real-estate deals since the start of the pandemic.
The Global AI in Fintech Market study describes how the technology industry is evolving and how major and emerging players in the industry are responding to long term opportunities and short-term challenges they face. One major attraction about AI in Fintech Industry is its growth rate. Many major technology players – including Zeitgold GmbH, Intel, […]
On a recent tour, Rivian's manufacturing chief said the Normal plant runs on an unprecedented combination of vertical integration and connectivity. He said that gives Rivian certain competitive advantages.
Alphabet unit Google on Tuesday said deals with Android phone makers that landed it a record 4.3-billion-euro ($5 billion) antitrust fine boosted competition and rejected EU charges they were a carrot-and-stick tactic that stifled rivals.
From cyberbullying to cybercrime, scammers and bad actors have been abusing Google’s online document platform, which includes a word processor, spreadsheet editor, presentation creator, and feedback form software. In 2019, we wrote about how kids use Google Docs for secret bullying. Now, these bad actors have left the classroom and are coming for the typical […]
It's not news that scammers and other cybercriminals take advantage of Google Forms, but that misuse may be broader than you thought. According to security vendor Sophos, there are at least seven ways that Bad Guys exploit the familiarity of Google forms. 1. Phishing: If you've ever filled i...
Discounted Google Play Gift Cards, it almost feels like free money, except you have to pay for it. In the latest round of who discounting app dollars, Coles is offering an actually discount on Google Play Gift cards, no bonus loyalty points, no redemption, just an upfront discount. According to the T&C from 29 September […]
Google is ending its older Android TV remote app after introducing its new Google TV remote app. The company confirmed to The Verge that the Android TV remote app will take a bow after the Google TV remote app — which can be used for other Android TV OS devices as well — is widely available.
BERKELEY, Calif. (AP) — Big Tech companies that operate around the globe have long promised to obey local laws and to protect civil rights while doing business. But when Apple and Google capitulated to Russian demands and removed a political-opposition app from their local app stores, it raised worries that two of the world’s most …
Google reportedly gave user data to Hong Kong authorities in response to three requests last year, even though it had said it would not respond to such requests unless they were made in cooperation with the US Justice Department
MOSCOW (AP) — Russia's state communications watchdog warned Apple and Google on Thursday that they could face fines if they fail to remove an app created by allies of jailed Russian opposition leader Alexei Navalny from their stores.
Alphabet Inc's Google unit, Facebook Inc and Microsoft Corp are the three biggest lobbying spenders in Europe in a battle against tough new laws aimed at curbing U.S. tech giants' powers, a study released on Tuesday showed.