Relationships formed within the context of the projects often carry over into the commercialization phase. Key components of the Precarn model, the market opportunity assessment in the project proposal, and the commercialization strategy that is a final deliverable, help companies move successful R&D results to market quickly. Risk sharing and access to top experts stimulate the growth of small companies into sustainable global players. Researcher-industry relationships available through projects, and through Precarn's national research network, facilitate the commercialization of technology and knowledge emerging from academic and government laboratories.
In over 16 years of operation, Precarn has funded over 200 projects. The results speak for themselves. Of the 38 start-up companies, 28 of them are still operating; compare this to the industry 95% failure rate for start-ups. Our government investors have received dramatic return. Canada, through investment via Industry Canada, has received 4-fold return in economic expansion and $2 in tax revenue for every dollar invested.
How was this done? -- We believe it is the power of the Precarn collaborative R&D model. The Precarn Model ensures every project has at least one end user and one academic partner collaborating with the development lead. Furthermore, the model encourages collaboration among multiple development partners. This strength drives innovations towards commercial viability; it generates highly qualified entrepreneurial people, reduces the risk and cost of research. The Precarn model also drives the development of a network of people and companies all predisposed to collaborative research, all communicating and exchanging ideas, experiences and technology.