Governance | McMaster Innovation Park

Governance

The governance of McMaster Innovation Park follows that of current best practice for public entities. The role of the board in providing strategic guidance and maintaining accountabilities on behalf of the “shareholders” has been clearly defined. The role of management in supporting the board in the development of the vision, mission, values and strategic goals for the organization is well understood. Management’s role in executing on the agreed upon strategic and financial goals as well as the annual business plan for the Park has also been defined.

Governance

McMaster Innovation Park has been established using a trust structure which can be graphically represented as follows:

McMaster Innovation Park Governance Diagram

The essence of the structure is to give McMaster Innovation Park a fair degree of independence to function as the custodian and developer of the assets while allowing the university as the “owner” of the assets to have an appropriate level of oversight and ultimately control over them.