As the centre of research excellence in advanced materials and manufacturing, nanotechnology and bioscience, McMaster Innovation Park is a place for connection, collaboration and commerce, involving people from the university, other educational institutions, government and the private sector, and an internationally recognized focal point for learning, creativity, innovation and research excellence.The park will be a complex of buildings built to high standards of energy efficiency with limited environmental impacts providing a facility for thousands of research scientists and students as technicians and support staff as well as an array of professional services to support the activities of the tenants.When completed, it will be home to federal labs, private sector research programs, university research projects and programs and perhaps most importantly startup and early-stage companies that are seeking to commercialize the intellectual property and technologies that emerge from McMaster University.

While not intending to be a business park, MIP will also house some private business that are attracted to the park thanks to its location and connections with other tenants at the park, such as hotels or fitness facilities.More than just a provider of real estate, the park will provide a support system to tenants and clients that will include specialized training, technical services, business administration support along with professional accounting, legal, financing, management and marketing services and advice.