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Dr. Rafi Hofstein in Biotechnology Focus: What will it take to regain Canada’s biotechnology leadership?

Dr. Raphael Hofstein
Dr. Raphael Hofstein, president & CEO, MaRS Innovation.

Biotechnology Focus, a compendium of the Canadian life sciences industry, has published a guest column by MaRS Innovation President & CEO, Dr. Raphael Hofstein.

The article explores the role life sciences assets, financing and talented management–the three Ms–must play in revitalizing Canada’s biotechnology sector:

At the close of the 20th century, Canada was perceived as a key contributor to the success of the global biotech voyage.

You know what happened next: the mechanisms to fund early ventures collapsed together with the collapse of the Canadian venture capital industry Finding suitable investment for early-stage technologies became incredibly challenging. Facing a dearth of opportunity, talented management sailed for other harbors.

It’s satisfying that on the eve of the 2014 BIO Convention, some indicators suggest to me that we are witnessing a rebound. But to accelerate our pace while holding this bearing, Canada needs to address certain strategic elements.

At MaRS Innovation, we call them the three Ms: merchandize, management and money.

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Whirlscape releases demo of Minuum keyboard on the Moto 360 circular smartwatch

Whirlscape logoAs part of their ongoing efforts to explore the future of wearable typing, UTEST grad Whirlscape released a demo of the Minuum keyboard working on a Moto 360 smartwatch.

This news builds upon Whirlscape’s activities in the wearables space; the company had previously announced a partnership with Omate Smartwatches that was covered in TechVibes.

This news was covered in the Los Angeles Times, Tech Crunch, Droid Life, Mobile Syrup, Digital Trends, SlashGear, Android Community and GigaOM. See also this article speculating on possibilities for the future of Canadian mobile wearable technology, also by Mobile Syrup.

MOTO360

Why would you need to type on a smartwatch? CEO Will Walmsley addressed the topic on input, the Minuum blog:

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Accel-Rx Health Sciences Accelerator to Partner with BDC Venture Capital

MaRS Innovation co-partner in pan-Canadian effort to help create up to 20 leading start-up companies

Accel-Rx logoCEBIO International Conference, San Diego – June 25, 2014: BDC Venture Capital and the Accel-Rx Health Sciences Accelerator (Accel-Rx) announced today a collaboration to provide critical seed funding to new and emerging Canadian health sciences companies.

This announcement was covered in TechVibes, PE HUB and BetaKit.

Accel-Rx AnnouncementTogether, Accel-Rx, BDC Venture Capital, and CDRD Ventures Inc. (CVI) which will provide the initial management to launch Accel-Rx operations, would focus on maximizing new health sciences company creation, and ensuring start-ups have the resources they need to grow and become a new generation of strong health sciences companies.

Accel-Rx brings together five of Canada’s leading health sciences Centres of Excellence for Commercialization and Research (CECR) to foster cross-Canadian cooperation and directly addressing the health science company creation challenge in Canada. They include:

The accelerator will help make a connection between: promising technologies; experts in drug development, clinical/regulatory affairs, deal-making and finance; entrepreneurs and mentors; and R&D infrastructure and resources.

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Globe and Mail: Strong incubators are key to driving innovation

utestJeff Cates’ op-ed in the Globe and Mail‘s Small Business/Digital Innovation section on June 19, 2014 argues that incubators have a key role to play in fostering innovation, entrepreneurship and growing new industries in Ontario.

Cates states this is particularly true when incubators when they provide programs and services to help young entrepreneurs succeed.

The University of Toronto Early-Stage Technology program (UTEST), co-managed with MaRS Innovation, is one such program. UTEST is set to announce its third cohort within the next month.

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U of T researchers demonstrate new class of solar-sensitive nanoparticle

University of TorontoNew research emerging from the University of Toronto’s Edward S Rogers Sr. Department of Electrical and Computer Engineering is developing and demonstrating a new class of solar-sensitive nanoparticle.

MaRS Innovation is working with Professor Ted Sargent, his research team and U of T’s Innovations and Partnerships Office (IPO) to incubate and commercialize this and other solar technologies. Their work was recently published in Nature Materials.

The paper’s publication was widely covered in the technical trades, including CNET.com, Tech Times, Compound Semiconductor.net and Gizmag, among others, and on the university’s website.

Here’s an excerpt from power-technology.com:

Led by post-doctoral researcher Zhijun Ning and Professor Ted Sargent, the research work resulted in the development of a new form of solid, stable light-sensitive nanoparticles, known as colloidal quantum dots.

Developed in collaboration with Dalhousie University, King Abdullah University of Science and Technology and Huazhong University of Science and Technology, the solar-sensitive nanoparticles are cheaper than the traditional panels, large and rectangular.

In addition to being cheaper, the colloidal quantum dots are more flexible solar cells, and better gas sensors, infrared lasers, infrared light emitting diodes and more.

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U of T names inventors of the year, celebrates top innovators

UTEST companies and MaRS Innovation partnership recognized along with this year’s honourees

University of Toronto

A better keyboard for mobile devices, intelligent traffic lights to tackle traffic jams, a more ecofriendly way to make nanoparticles for applications such as solar cells and agriculture, and an artificial neural network that improves the way computers learn.

These four inventions took top honours May 21 at the University of Toronto Celebrates Innovation event.

Mobile Syrup covered Whirlscape’s involvement in this event. Read the story.

utestThe annual event, which has previously honoured the university’s top inventors of the year, has widened its scope. This year, in addition to naming the top inventors of the past year, U of T honoured people and companies working on everything from apps to help the disabled to a printer that prints human skin for wound dressing. It also recognized the financial support of the Connaught Fund for several programs that support innovation.

“This year is extra special,” said Professor Paul Young, U of T’s vice-president, research and innovation. “We decided to bring into the fold some of the other competitive innovation programs. U of T is home to some of the world’s most creative and entrepreneurial innovators, so these competitions were fierce.”

The 2014 inventors of the year are:

  • Will Walmsley, a recent graduate of the Department of Mechanical and Industrial Engineering, who was cited for his development of the Minuum keyboard. Dubbed “the small keyboard for big fingers,” it provides a full keyboard for mobile devices using very little space, allowing users to type quickly and use gesture shortcuts.
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Flybits selected as a Red Herring Top 100 North America Winner

Flybits Corporate LogoTORONTO, Canada (May 20, 2014) — Red Herring has selected Flybits as one of its 2014 Top 100 North America award winners. Flybits was recognized for its leading-edge, context-aware computing solutions.

Red Herring Top 100 America recognizes innovation from outstanding entrepreneurs and promising companies. Its “Top 100 North America” award winners were selected from among approximately 3,000 tech start-ups financed each year in the U.S. and Canada.  Past winners include companies such as Facebook, Twitter, Google, Yahoo, Skype, Salesforce.com, YouTube, Marin Software, Palo Alto Networks and eBay, and many others that have changed how we live and work.

“In 2014, selecting the top 100 achievers was by no means a small feat,” said Alex Vieux, publisher and CEO of Red Herring. “We believe Flybits embodies the vision, drive and innovation that define a successful entrepreneurial venture. Flybits should be proud of its accomplishment, as the competition was very strong.”

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Frost & Sullivan awards Xagenic award for new product innovation leadership

Market research company lauds start-up for developing a breakthrough workflow while dramatically improving point-of-care diagnosis

Xagenic 2014 logo(MOUNTAIN VIEW, Calif) May 20, 2014 — Based on its recent analysis of the point-of-care diagnostics market, Frost & Sullivan recognizes Xagenic Inc. with the 2014 North America Frost & Sullivan Award for New Product Innovation Leadership.

Xagenic’s revolutionary product, the Xagenic X1™ system, is a point-of-care platform with intuitive features to provide lab-free molecular diagnostic testing. It is unique as a low-cost, simple, rapid sample-to-answer desktop instrument, requiring no manual sample processing or cold storage. Currently, the platform is in the beta-testing phase and is expected to launch between 2015 and 2016.

Dr. Shana Kelley and Xagenic were featured in the Globe and Mail on May 20, 2014.

Read the detailed Frost & Sullivan Best Practices Research Report report on Xagenic’s website. Xagenic is MaRS Innovation’s lead start-up company, in partnership with the University of Toronto: Xagenic news archive.

For its portfolio of cartridge-based tests, Xagenic focuses on infectious diseases (HSV 1+2, Flu A+B, CT/NG, strep A, group B strep, trichomoniasis, HCV and upper respiratory infections) that will benefit the most from rapid on-site testing. The company also intends to apply the platform to counter a critical public health threat—antimicrobial resistance.

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