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Feature
BOOSTING
TECH IP
DURING
COVID
IN July, the Business Development Bank of
Canada Capital announced a new intellec-
tual property development financing enve-
lope to support intellectual property-fo-
cused companies in Canada. e financing
is provided to companies in the form of a
sub-debt, convertible debt and equity to
accelerate commercialization.
It's one way in which technolog y- and
IP-focused companies are staying afloat
and even thriving during the coronavirus
pandemic.
"We're seeing more of this kind of thing,"
i.e., public sector institutions helping
Canadian companies secure their IP, says
Matthew Zischka, managing partner for
Smart & Biggar LLP. "We're hoping to see
more of that, that this will create more of
those companies that have the critical mass
to get to the next stage."
And legal tech is a subsector that's seen
much growth; this has included law firms
purchasing "captive" legal tech companies
that provide services for only one firm, says
IP lawyer Roch Ripley of Gowling WLG in
Vancouver.
Gavin Manning, a partner in IP firm Oyen
Wiggs Green & Mutala LLP in Vancouver,
sees a thriving tech sector in several areas.
Many startup companies have been busy
developing their technology in pandem-
ic-compliant way, he says. "ey've been
pushing ahead; the COVID situation hasn't
slowed them down very much at all.
"It illustrates the resilience of that part of
our economy."
What's cooking in tech IP
As it did in the last big recession in 2008,
Ripley sees the government putting money
into "cleantech" such as solar and wind
power, carbon capture, water purification,
battery technolog y and industrial purifica-
tion. In December, the federal government
announced plans to boost hydrogen use and
to increase carbon taxes by 566 per cent.
e pandemic has also made companies
in certain fields very attractive, Ripley notes.
Life sciences companies have attracted "tons
of investment" owing to the demand for
COVID-19 vaccines, while on the phys-
ical assets side there has been great interest
TECHNOLOGY- AND IP-FOCUSED
COMPANIES ARE STAYING AFLOAT
AND EVEN THRIVING DURING THE
CORONAVIRUS PANDEMIC, WITH
THE BUSINESS DEVELOPMENT
BANK OF CANADA OFFERING A
NEW INTELLECTUAL PROPERTY
DEVELOPMENT FINANCING ENVELOPE
