Simon Fraser University and the University of British Columbia Lead Expansion of National Innovation Hub for the Pacific Region
Vancouver, BC, Jan 15, 2025 - Simon Fraser University (SFU) and the University of British Columbia (UBC) are excited to announce they are co-leading the expansion of a nationally funded innovation program for Lab2Market (L2M), known as the Lab2Market Pacific Hub. Lab2Market, Canada’s national network for innovation, commercialization, and entrepreneurship training, is embarking on a transformative new chapter. Led by Dalhousie University, and supported by 13 co-applicants, the Lab2Market network received $32 Million in funding administered by the Government of Canada through the Lab to Market grants, the Natural Sciences and Engineering Research Council of Canada (NSERC) in collaboration with the Canadian Institutes of Health Research (CIHR) and the Social Sciences and Humanities Research Council (SSHRC). UBC and SFU will be helping to expand the reach and impact of L2M over the next five years through the Pacific Regional Hub.
Building on the success of previous Lab2Market collaborations, SFU and UBC have been fostering innovation and entrepreneurship across the region since 2023, by way of Pacifican and Mitacs funding for a national L2M pilot. To date, the two institutions have supported 105 participants across 4 cohorts. SFU VentureLabs and Innovation UBC will continue to deliver Lab2Market programs to research affiliated with BC academic institutions. What is most exciting about this new funding is that it will bolster this collaboration with a five-year funding commitment, ensuring continued support for groundbreaking research commercialization. By leveraging their shared networks and uniting with other research institutions across British Columbia, this partnership enhances the delivery of the L2M program, creating an inclusive hub that empowers researchers and innovators to translate ideas into impactful solutions.
Lab2Market’s nationwide programming helps brilliant minds in graduate and postdoctoral programs reimagine their futures. In a cohort-based model, researchers are given the opportunity to critically test and evaluate their idea in an entrepreneurial landscape. Underpinning this collaboration is the alignment of BC’s academic institutions in supporting their research communities with programming, resources, and access to networks that enable pathways for transforming research into societal and economic benefits for Canadians.
UBC and SFU’s history of jointly supporting high-potential, research-based ventures to commercial impact, include Bryosphere Biotechnologies, Viridis Research, A&K Robotics and FlutterCare, among others. These ventures have achieved significant milestones with the support of lab space, mentorship and access to investor networks provided in collaboration with both institutions. The Lab2Market Pacific Hub programming will add to the momentum of strengthening BC’s diverse industry sectors, by not only catalyzing a pipeline of deep tech innovation across the region, but also by enabling researchers to build capacity for research translation and its impact on improving the lives of Canadians. Lab2Market resources prepare entrepreneurial researchers for the company building resources provided by Innovation UBC and SFU Venture Labs, further strengthening the ecosystem for startups founded at academic institutions.
“We are thrilled to continue delivering Lab2Market in partnership with UBC to support BC’s leading academic institutions, whose world-class research and innovation are at the forefront of driving positive change through transformative research into real-world solutions for Canadians.” says Dr. Lesley Esford, Executive Director, SFU VentureLabs.
“This national funding confirms the government’s commitment to prioritizing research translation,” Dr. Esford added. “The venture building journey is complex and nuanced, and the Lab2Market Pacific Hub will enable academic institutions such as UBC and SFU to help bridge critical gaps researchers face in commercializing their inventions,” stated Dr. Sean Lumb, Associate Director, Innovation UBC. “What I find most inspiring is connecting with the hubs across the country in an effort to move the dial on Canada’s innovation outcomes,” Dr Lumb noted.
Public announcement released Wednesday, January 15 : Lab2Market Awarded Government of Canada Grant to Propel Innovation and Commercialization Across Canada
About InnovationUBC
Innovation UBC supports pathways for UBC’s research community to bring their inventions to impact. Through research partnerships, technology transfer, and venture building services, UBC researchers have access to a robust ecosystem of services and support to strengthen their translation opportunities. Innovation UBC is committed to strengthening knowledge and understanding of the commercialization process through mobilizing university inventions for society's benefit. Our goal is to accelerate UBC research inventions to global impact, while improving the daily lives of Canadians.
About SFU VentureLabs
SFU VentureLabs accelerates science, technology, and innovation-based companies that have winning value propositions and strong potential to scale up. Based in Vancouver, B.C., our programs and services are tailored to each company’s needs to not just grow, but grow smart. We connect entrepreneurs with experienced mentors and a network of resources focused on tackling the unique challenges and complexities technology innovators face. We are a community of entrepreneurs, mentors, business executives, educators, and creative thinkers passionate about big ideas and tackling even bigger challenges.
About Lab2Market
Lab2Market™ envisions Canada as a global leader in transforming academic research into innovative solutions that drive social impact and economic growth. As a national beacon for innovation, commercialization, and entrepreneurship, L2M empowers students, researchers, and highly qualified personnel (HQP) through specialized training that bridges the gap between research and real-world applications. Funded by the Government of Canada, Mitacs, and the Ocean Startup Project, Lab2Market draws inspiration from leading programs such as I-Corps and MIT Delta V (U.S.), ICURe (U.K.), and the Quebec Scientific Entrepreneurship Program.
For more information, please reach out to:
UBC
Michelle Sklar
Head of Marketing and Communications, Innovation UBC
michelle.sklar@ubc.ca
SFU
Grace Sullivan
Brand Manager, SFU Venture Labs
grace@venturelabs.ca