Ottawa announced it is renewing its funding in Springboard Atlantic — the industry engagement and technology commercialization network aimed a helping businesses improve competitiveness through partnerships with universities and colleges.

The Atlantic Canada Opportunities Agency is investing $9.6 million from its Atlantic Innovation Fund over three years so that Springboard can maintain its services, and develop initiatives to bring new products to market.

The federal government funding is in addition to contributions from Springboard’s 19 member institutions totalling $5.1 million.

The funds will support the efforts of 30 industry liaison officers at 14 universities and five colleges across Atlantic Canada, and six staff at Springboard’s head office in Halifax. They will help match publicly funded research and knowledge with private sector needs, resulting in new marketable products and services.