It was another banner year for WORLDiscoveries. In the last fiscal year, we brought in a record $7.87 million in revenue and paved the way for $5.79 million to be distributed to researchers. Our number of active licenses reached a new high of 240, with 35 licenses executed this past fiscal year.
Our department was also awarded a grant from the strategic priorities fund enabling us to establish our new program, WE-Empower. This brings us to the theme of our annual report; Building Community.
Inspired by Western’s strategic plan, Towards Western at 150, WORLDiscoveries has spearheaded the development of new programs designed to bring diverse groups together towards advancing a culture of innovation and inclusion.
Our new WE-Empower program brings together women and underrepresented principal investigators, postdoctoral fellows, and graduate students covering tech transfer and commercialization, intellectual property, and entrepreneurship. Our Intellectual Property Strategy Boot Camp, developed in collaboration with Western Law, taught 25 individuals how to protect, manage and commercialize IP.
The Graduate Student Innovation Scholars program has supported over 115 students and given them hands-on training in entrepreneurship, knowledge mobilization and commercialization.
Our Medical Innovation Fellowship (MIF) cohort also launched a new startup and won several pitch competitions. The Mini-MIF introduced 24 individuals to the biodesign process approach to medical innovation.
At the annual Vanguard Awards, we celebrated the accomplishments of over 21 individuals by recognizing various market-readiness milestones. The Proteus Innovation Competition partnered with five Southwestern Ontario institutions and saw individuals create viable commercialization strategies for innovations developed by our partners.
Thank you for taking the time to learn about our accomplishments. We can’t wait to work with you to continue building a community of innovation that enables the timely transfer of research products and services for the use and benefit of the partner institutions, their members and society.Read more