Saskatchewan and Manitoba University Spin-off Companies Create 3,652 Jobs

A total of 3,652 jobs were created from 53 companies spun off from university research at the University of Saskatchewan, University of Manitoba, and the University of Regina, according to a recent Prairie IPM Network study. When a modest multiplier effect is applied, these spin-off companies directly and indirectly led to more than 7,600 jobs, mainly (91 per cent) in the Saskatchewan-Manitoba economies.

The survey also showed that more than three-quarters of the companies set up operations close to their source institutions, leading to effective public-private research collaborations and delivering economic impacts directly to the region. In fact, in 2007, these companies raised through private and public investment $48.2 million. Eighteen per cent of the companies were publicly held and had a collective market capitalization of $6.9 billion.

The companies report that 20 per cent of their staff is alumni from the three universities and 60 per cent participate in graduate and co-op programs.

“Technology companies sourced from universities have the potential to be key drivers of the growing knowledge-based economy,” says University of Saskatchewan ILO Director Glen Schuler. “The success of university spin-off companies is a great news story for the Prairies.”

For the REPORT SUMMARY, click here.

For the COMPLETE REPORT, click here.

The Prairie Intellectual Property Management Network was started in 2007 when the University of Manitoba expanded the 7- Institution, Manitoba IPM Partnership (a Tri-Council funded collaborative), to include the University of Regina and the University of Saskatchewan. Immediately thereafter, the enlarged “Prairie Partnership” commissioned a study to gauge the success, and the economic impact, of academic technology transfer on the development of technology-based start-up ventures across the Prairies.

Harms & Company Consulting was pleased to deliver the study and the full report to the Prairie IPM Network.