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The University of Calgary's Life Sciences Innovation Hub Receives $08.5 Million Funding From the Opportunity Calgary Investment Fund to Act as a Catalyst to Turn Research Into Commercial Ventures

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

|| February 06: 2019 || ά. The University of Calgary is receiving $08.5 million for programming to support turning advanced research into business opportunities at the new Life Sciences Innovation Hub. Opportunity Calgary Investment Fund:OCIF made the announcement today at the Hub with Dr Ed McCauley, the President and Vice-chancellor of the University of Calgary, Mayor Mr Naheed Nenshi and Mr Barry Munro, the Chair of the Board of Directors for OCIF. This is good news, surely and The Humanion publishes it here as such. But, we must point out this that all universities and learning agencies of the World must bear in mind not all research, though, equally vital, can be commercialised instantly so that they do not close their vision and fall into the trap of only funding poverty-fuelled research.

Poverty-fuelled, because, that poverty is of lacking of vision and, poverty does not and can not fuel much of anything. Because, in such cases, the institutions would have blinded themselves with the short-termist money-spinning research focus. For the ultimate function of research is two-fold: to enable questioning and learning so to innovate and so to seek to advance the human condition for only through new knowledge and learning and innovation humanity does and can develop itself so to take forward the human condition. This applies to all research work, regardless of disciplines of the studies of learning. Thus, a great deal of research will not make money, will not make a penny today but the vision of the funding university must ensure that it sees in what ways a piece of research contributes to this advancing the human condition. Take genetics, as an example: Gregory Mendel’s life’s work or research would not get a penny of funding from anyone to fund his research because his research would not make a penny in a century! Now, stop and think, what would be the consequences, were such a ground-breaking, paradigm-shifting research, that would lift and shift and take forward the human condition in far more ways than, even, today, we are able to fully grasp, to be overlooked, rejected and thrown into the academic dustbins? Without vision universities cripple themselves and with poverty of vision they chain themselves. We have the faith that the University of Calgary shall not do either and continue to craft and carve out ways and paths, that are anew and afresh, that are always going to tell the world: these are ways, that had not existed before.

“This funding is critical to the development of our new Life Sciences Innovation Hub at the University Research Park, a place, that accelerates cross-disciplinary projects in discovery and innovation.” said Dr McCauley. “The university leads the way in advancing the emerging life sciences sector and diversifying Calgary’s economy. Whether we are investigating the human micro-biome or supporting best practices in production animal health, we are driving innovation, based on discoveries for the benefit of Calgary and Alberta.”

The Life Sciences Innovation Hub is forecast to incubate 20 to 40 life sciences companies per year. A key element of the Hub is supporting research with a commercialisation focus for both early-stage incubator companies, as well as, growing and developing companies occupying their own space in the building. The Hub was first unveiled last November and is scheduled to open in July.

“Life sciences is a critical component of our economic strategy and we, already, have a great university doing ground-breaking work.” said Mayor Mr Nenshi. “This funding will help us bring that ground-breaking work to market, creating jobs and a more resilient economy.”

The Opportunity Calgary Investment Fund was launched by the City of Calgary in April 2018 to support investments within the city, that spur growth and create jobs in strategic sectors. Life sciences is one of the sectors, identified for growth in the economic strategy, Calgary in the New Economy. OCIF funding will support specialised programming for entrepreneurs and companies at the Hub. It was not used to acquire or refurbish the building.

“Some of the most advanced research in the world is being done at the University of Calgary. There is a tremendous opportunity to leverage that research and create the next great life sciences companies in Calgary.” said Mr Munro. “That is what we plan to achieve with the OCIF investment: fund the programmes to build the skills to transition to the business world and to help attract global capital to support these companies and entrepreneurs.”

A steering committee will be created to advise the University on programming at the Life Sciences Innovation Hub, that will include industry, Calgary Economic Development, the University of Calgary, Innovate Calgary and Creative Destruction Lab:CDL-Rockies.:::ω.

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