Multiple-memory material garners Ontario entrepreneurship award

November 9, 2011 – Marketwire — The Ontario Centres of Excellence gave the Martin Walmsley Fellowship for Technological Entrepreneurship award, totalling $50,000, to Innovative Processing Technologies Inc. The one-year fellowship supports Ibraheem Khan’s company’s application of multiple-memory material (MMM).

Two other companies received the award as well: MyVoice Inc. (2-year) and Eve Medical (1-year).

Innovative Processing Technologies (IPT) Inc. helps implement smart materials in industrial applications. Multiple-Memory Material (MMM) technology enables greater functionality than traditional smart materials and can be applied to virtually any shape memory alloy (SMA) to locally modify properties. SMAs exhibit a shape memory, used for micro electro-mechanical systems (MEMS) and microelectronics, automotive, medical devices, and other applications. MMM enables more than one shape memory to be embedded in a monolithic component. IPT’s MMM technology also enhances other functional properties of SMAs, such as pseudoelasticity and corrosion performance.

The recipients are helping make Ontario a technological leader, said Brad Duguid, Minister of Economic Development and Innovation. The Martin Walmsley Fellowship for Technological Entrepreneurship facilitates the transition of OCE-funded university-based research into innovative business ventures. An expert panel selects the recipients, who are judged on criteria including strength of technology, commercial viability and sound business planning. The Fellowship honours the vision of Dr. Martin Walmsley, who was instrumental in founding the Ontario Centres of Excellence program in 1987.

To view a video of all of this year’s Martin Walmsley Fellowship recipients, please visit the following link: http://www.youtube.com/watch?v=XEqf9SPJGTc

Ontario Centres of Excellence (OCE) Inc. drives the commercialization of cutting-edge research across key market sectors to build the economy of tomorrow and secure Ontario’s global competitiveness. Learn more at www.oce-ontario.org.

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