A Master Research Agreement (MRA) was struck between BASF with the University of Toronto to improve cooperation between BASF and Canadian researchers and expedite innovation projects. This alliance is a component of a regional plan to expand BASF’s partnerships with North American universities into Canada. Since this is BASF’s first MRA with a Canadian university, it is a significant accomplishment
In addition to accessing the University’s state-of-the-art research and innovations, BASF will also benefit from increased flexibility regarding intellectual property (IP) ownership, significant cost savings through government matching funds, and tax incentives by partnering with the University of Toronto, which has earned international recognition for using artificial intelligence and machine learning to advance technologies. Additionally, BASF will be more visible in the Canadian research community and have access to a wider talent pool.
Benjamin Knudsen, Vice President of Research North America at BASF Corporation, stated, “BASF consistently looks for opportunities for collaboration that drive innovation and digitalization.” “This collaboration is a prime example of BASF’s Winning Ways approach, particularly our dedication to boosting innovation by establishing a strong R&D environment that enhances our capacity for research. We are excited about the progress we will make together and the growth of our research community, which will have a significant influence on the entire region.”
Five projects have been started by BASF and the University of Toronto since the agreement was signed, indicating the parties’ dedication to promoting sustainability and innovation in chemistry and agriculture.
