There is a negative stigma surrounding the difficulty of breaking through into a market in London. Commercializing a discovery or a product can be very difficult according to many entrepreneurs in the city.
WORLDiscoveries are a group who label themselves as “the bridge between local invention and global industry.” Their founding is based on the partnership between the University of Western Ontario, Robarts research institute, and the Lawson health research institute (knowns as partners). Using sector-specific market knowledge and business development expertise, they help local entrepreneurs and researchers commercialize and license their product.
Jordan Flemming, digital marketing manager for WORLDiscoveries, says that there is always a room for improvement in entrepreneurship.
“I think that Western’s Propel and organizations like TechAlliance are all doing a great job of improving entrepreneurship in the city”
Local companies, students, and many other innovators gathered at the Windermere manor for the Proteus Innovation Competition. For the third year in a row, WORLDiscoveries has hosted the event in an effort to accelerate the commercialization of some of the city’s discoveries.
“It’s a competition where teams throughout London’s entrepreneurship committee come together to present a commercialization plan for one of three technologies built or developed in London.”
Flemming believes that the competition helps prove the stigma surrounding business in London wrong.
“Based on just the quality of the submissions we receive. We see a steady improvement in the business plans and pitches yearly. The work put in by everyone here shows that London is a great place for entrepreneurship.”
The competition saw three teams, each representing a different technology winning a cash prize of 5000 dollars. The competition has already been confirmed to take place next year.
