Natural Products Canada Announces 3 New Commercialization ProgramsAndrew Byrne July 9, 2019
Natural Products Canada (NPC) is pleased to announce a suite of three new commercialization programs to advance Canadian innovations in natural products.
The programs are designed to help members of Canada’s Natural Product Innovation Cluster tackle key commercialization gaps for natural products and technologies as identified in a 2018 survey of NPC clients and stakeholders: experienced leadership teams; defined market strategies; and product or technology validation.
“The results confirmed what we’ve seen in hundreds of innovative opportunities across the country,” says Shelley King, CEO of Natural Products Canada. “They have exceptional products and technologies, but often require additional validation, personnel or market strategies to progress to the next stage in growth or investment attraction.”
The programs are a mix of payable and conditionally repayable contributions with different timelines, criteria and objectives to address the key commercialization gaps for natural product-related companies or research institutions in the Cluster.
Executive Talent Program – Provides funds for key executives to join the leadership teams of high potential companies (SMEs and start-ups) to ensure priority growth deliverables are achieved.
Proof of Concept Program – Provides funds for companies or research institutions to test or validate a product, service or technology to advance to market.
Go-To-Market Program – Provides funds for strategic initiatives such as identifying market opportunity, regulatory pathways or channel strategies.
The commercialization programs enhance NPC’s ability to support promising opportunities in Canadian natural products, and complement its advisory and investment services. Since its formation in 2016, NPC has worked with over 500 products, technologies, services and solutions in all stages of development from companies and research institutions in the Canadian natural product realm.
“NPC has invested in six companies, and provided guidance, advice and introductions to hundreds more,” says King. “These new programs offer a targeted and tangible set of tools to help promising opportunities within the Cluster achieve their potential much faster.” The programs are one of four major initiatives that NPC is developing as part of its new strategic plan, which will be rolled out in the coming months.
For more information, contact: Kim Johnstone, Program Director, Natural Products Canada
Full details can be found at www.naturalproductscanada.ca/programs.
Natural Products Canada (NPC) is the driving force behind Canada’s Natural Product Innovation Cluster–a strategic community of SMEs, research institutes, corporations, investors, government departments, and service providers who support the development and commercialization of naturally-derived products and technologies in health and life sciences, natural resources, agriculture and agri-food, and sustainable bioproducts. As part of its role in the Cluster, NPC offers a suite of Commercialization Programs to help companies and researchers advance high-potential products and technologies; provides connection and innovation scouting services to industry and investors through its Innovation Hub; and leverages its Investment Fund to help develop and de-risk promising Canadian opportunities. NPC has over 500 opportunities in its pipeline, has completed six investments, and has already experienced one exit. Established in 2016, NPC is funded by a range of public and private investors, including the Government of Canada’s Centre of Excellence in Commercialization and Research (CECR) program, administered by the Networks of Centres of Excellence. Visit www.naturalproductscanada.com