McMaster Innovation Park is committed to helping entrepreneurs and start-up companies provide business opportunities and expansion with Hamilton with the hopes of providing great job and wealth creation. MIP does this in many ways from providing a collaborative space where researchers can commercialize ideas found in the lab to leasing start-up office space for entrepreneurs to grow their business. One of the larger ways MIP helps entrepreneurs and researchers is by providing resources for them to accelerate their business ideas. MIP currently houses three tenants that provide these resources: Innovation Factory, the McMaster Industry Liaison Office and the Don Pether Incubation Centre.
Innovation Factory believes in a new Hamilton, a city that’s becoming recognized as a global center of innovation iF’s mission is to strengthen Greater Hamilton’s next generation of job and wealth creation by helping entrepreneurs bring new ideas to life and market, helping SMEs get to the next level and helping Hamilton build a dynamic culture and community of innovation. iF focuses on two things to realize their vision and pursue their mission. First, iF helps individuals and organizations bring innovation to market and move their organization to the next level through their Client Development Program. Second, iF helps the community blossom with innovation and growth through our Community Cultivation Program. They believe it’s not the business you’re in that’s innovative, it’s the way you do business and as the spirit and skills of innovation permeate our traditional and advanced industries alike, Hamilton will become unstoppable.
Every day, the McMaster faculty performs ground-breaking research. The McMaster Industry Liaison Office has a mission to help researches move their research into society and connect researches to their respective industry. MILO helps researchers work with industry, obtain funding for collaborative research with industry and commercialization funds, protect their work with patents, trade-marks and copyrights and help commercialize their work. They have a vast network and help these researches to connect to these networks such as C4 and Southwest Ontario’s technology transfer community.
Many students at McMaster University develop ingenious, award-winning inventions every year that generate a great deal of interest from industry and consumers. The Don Pether Incubation Center (DPIC) provides office facilities and access to the guidance, experience and knowledge of the University’s Xerox Center for Engineering Entrepreneurship and Innovation and the McMaster Industry Liaison Office, and proximity to other commercialization specialists at the McMaster Innovation Park. The DPIC helps creative ideas turn into commercialized realities and helps start-up companies move to the next stage of maturity.
The Forge is a cooperative effort between McMaster University and the Innovation Factory to provide a business and innovation accelerator for the Hamilton community located in 304A at McMaster Innovation Park. What drives an entrepreneur to accelerate their business through to sales validation and efficiency? First you give them an environment with other entrepreneurs facing similar issues and growing pains. Second you add a regiment of start-up 101 programming to enhance their skills and improve their decision making abilities. Lastly you surround those start-ups with mentors and other successful business people who can help those entrepreneurs avoid the less obvious potholes. The goal of The Forge is to provide a dedicated space, programming and mentorship for start-ups ready to be accelerated from prototype stage to a repeatable sales model.