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TD helps build future innovation in Cleantech, Healthtech, and ESG through new patent funding
Bank also hits its own record milestone with 1,500 TD patents filed across North America
TORONTO, Jan. 26, 2022 /CNW/ - TD Bank Group (TD) today announced a second round of funding for the Bank's unique, invitation only, Patents for Startups program to help early innovators focused on clean technology, health technology and sustainability solutions protect their investments on new and existing inventions.
The award-winning program, launched in 2017, works in collaboration with the TD Sustainable Future Lab accelerator in Waterloo and builds on a component of the TD Ready Commitment, the Bank's corporate citizenship platform. The funding and support from TD on the patent application process has been foundational in helping companies build and protect their intellectual property (IP). The patents program is also strongly aligned with the TD climate action plan, which targets net-zero greenhouse gas emissions by 2050, outlined in the Bank's Environmental, Social and Governance (ESG) strategy in November 2020.
"Helping to nurture a culture of innovation and inspire positive change through new products and ideas is key for these organizations to move forward," says Josh Death, Intellectual Property and Patentable Innovations Lead, TD Bank Group. "We are pleased to announce this new funding for the Patents for Startups program and are committed to empowering early-stage companies and innovators of all sizes to drive growth focussed on advanced technology."
Patents for Startups ESG Success
- Evercloak was selected to participate in the Bank's patents program in 2020 and is a Cleantech company focused on creating advanced materials, particularly large-area nano films that can help curb greenhouse gas emissions. Dedicated patent funding helped this women-lead Cleantech protect critical intellectual property.
- 16Bit, a Healthtech participant of the Bank's patents program, focuses on solving clinical problems with robust AI technology. 16Bit has leveraged TD's patent support to protect product and process inventions helping the company to build partnerships with potential customers and attract Canadian technology talent.
- Advanced Materials & Propulsion Engineering & Research (AMPERe), a research and development corporation that develops technology for an efficient, green, and cost-effective internal combustion engine used TD's patent support to obtain a patent for their Hydrogen Fuel Production technology. The advancement of this patented technology also enabled the company to build on an exciting new project – a futuristic hoverbike designed to lessen the environmental impact of transportation.
"We are absolutely thrilled to have the opportunity to take part in the Patents for Startups program and truly appreciate the Bank's enthusiasm towards green technology," says Luke Wolkiewicz, Chief Operating Officer, AMPERe. "Thanks to TD's remarkable assistance, our company was able to focus on the expansion of our current operations while remaining confident about the security of our IP."
Driving Internal Innovation with Filing of 1,500 TD Patent Applications
TD celebrates creativity, innovation, and operational excellence across the Bank and at every level within the organization as part of the Bank's commitment to helping create and deliver new experiences for its customers and supporting its colleagues in an increasingly digital world. The Bank recently hit a milestone with TD colleagues being named as inventors on 1,500 TD patent application filings to date across Canada and the U.S., with a 60+% year-over-year increase in patents granted.
TD has a dedicated committee that supports colleague innovation through the patent process to promote and protect TD's intellectual property. The Bank continues to maintain a strong pace of innovation with the most patents filed by a financial institution in Canada, as per the Canadian Intellectual Property Office database as of January 2022.
"As a purpose-driven and forward-focused bank, we are committed to delivering creative solutions for our customers," says Rizwan Khalfan, Chief Digital and Payments Officer, TD Bank Group. "We are extremely proud of this milestone achievement and will continue to support TD colleagues in this innovation journey."
About TD Bank Group
The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group ("TD" or the "Bank"). TD is the fifth largest bank in North America by assets and serves more than 26 million customers in three key businesses operating in a number of locations in financial centres around the globe: Canadian Retail, including TD Canada Trust, TD Auto Finance Canada, TD Wealth (Canada), TD Direct Investing, and TD Insurance; U.S. Retail, including TD Bank, America's Most Convenient Bank®, TD Auto Finance U.S., TD Wealth (U.S.), and an investment in The Charles Schwab Corporation; and Wholesale Banking, including TD Securities. TD also ranks among the world's leading online financial services firms, with more than 15 million active online and mobile customers. TD had CDN$1.7 trillion in assets on October 31, 2021. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto and New York Stock Exchanges.
SOURCE TD Bank Group
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