In 2016, BIC established the Centre for Commercialization of Sustainable Chemistry Innovation (COMM SCI) initiative program, which acts as a hub for the commercialization of sustainable chemistry and bio-based innovation. COMM SCI was established with support from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). BIC champions commercialization, cluster and value chain development by providing business advice, technical services and project funding support to participating small- and medium- sized enterprises (SMEs). BIC is accelerating technology development, removing barriers to commercialization and enabling broader product adoption.
COMM SCI has two components
Sustainable Chemistry Alliance Investment Fund
= 5.5 million
Federal Economic Development Agency for Southern Ontario
= 5.5 million
All potential investments go through a 3 staged review process:
The first stage is with the BIC management team
The second stage is with our Investment Management Committee
Third stage is with our Board of Directors
Through each stage, we are looking to answer the following questions:
Does this meet the BIC vision of being clean, green and sustainable?
Is this a new or game changing technology?
Is there a clear benefit to Canada?
Is this a superior management team?
Is there a clear need for BIC investment and strategic assistance?
If we at BIC can answer yes to those questions, chances are your company are in a good position to move forward through the investment process.
BIC will introduce and maintain the knowledge based services built from its experience and extensive network. BIC’s partners such as the Western Sarnia-Lambton Research Park, Lambton College, Sarnia-Lambton Economic Partnership, and regional professional service organizations are committed to providing assets and services which can be leveraged against government commitments to support the successful commercialization of start-up companies with clean, green and sustainable chemistry technologies.