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University of Toronto Early-Stage Technology Program (UTEST) opens applications for second start-up company cohort

Students, faculty and recent alumni with software ideas must apply by Feb. 22

University of TorontoGot a killer software-based idea? Are you passionate about turning that idea into a start-up company?

If you’re a current student, faculty member or recent graduate of the University of Toronto, consider applying to the University of Toronto Early-Stage Technology (UTEST) program.

Applications are now closed. Stay tuned for the third UTEST application call.

Created as a pilot in 2012 to help the U of T community bring their software-based ideas to market, UTEST is part of a growing ecosystem of incubators and commercialization support services.

UTEST accepts companies in the very earliest stages of idea generation— before they’re ready for traditional incubators — and awards each company up to $30,000 in start-up funds.

It also provides nascent software companies with office space in the MaRS Discovery Districtmentoring and business strategy support.

“From a results standpoint, we couldn’t be more satisfied with first cohort of companies,” says Kurtis Scissons, co-director of UTEST at U of T. “In six months, they secured over $650,000 in follow-on funding. Each has filed solid patent protection and some are already gaining customer traction. They have also collectively created 21 highly-skilled jobs (HQPs).”

Update May 2013: Those figures now stand at $1.2 million and 29 jobs; most of the companies have secured customers.

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Shotlst: “Track changes” for the physical world

Shotlst is one of six inaugural UTEST companies; next UTEST application round to begin shortly

UTEST-Shotlst co-founders Matt Ratto (left) and Mike Borg
Shotlst co-founders Matt Ratto (left) and Mike Borg. Shotlst was one of six companies accepted into UTEST‘s inaugural cohort. Photo courtesy of Jon Horvatin, University of Toronto.

What if you could turn on Microsoft Word’s “track changes” tool and apply it at will to the world around you?

Sound like science fiction?

Meet Matt Ratto, a professor in the University of T’s Faculty of Information, and Mike Borg, a recent graduate of the faculty. They’ve formed Shotlst, a new software company being incubated by the University of Toronto Early Stage Technology (UTEST) program.

The central metaphor of Shotlst is the “shot list,” a list of scenes a film director plans to get each day on a movie set. It serves to organize the cast and crew’s time and activity for the day.

With Shotlst, a user decides at the outset on “shots” that will be consistent throughout the life of a project.

For example, an architect might take pictures of a cardboard model of a building, 3-D renderings and, later, the actual construction site. These shots would serve as raw material that colleagues could use to annotate and collaborate using the software.

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Federal and Provincial Proof of Principle Programs Support Translational Technology Development

Ontario Centres of Excellence--Where Next HappensTORONTO (August 16, 2010) – MaRS Innovation (MI) is pleased to announce that translational funding to support product development for early-stage technologies from its members has been successfully deployed from federal and provincial sources. At the federal level, three of MI’s commercialization projects have recently received notification of funding from the Canadian Institutes of Health Research (CIHR) Proof of Principle (PoP) program, amounting to approximately $470,000.

Moreover, MI has successfully deployed about $1 million in proof of principle funding received from the Ontario Ministry of Research and Innovation (MRI) through the Ontario Centres of Excellence (OCE). This provincial program was previously managed by the MI founding commercialization partners in the life and physical sciences, BioDiscovery Toronto (BDT) and Technology Transfer Toronto (TTT). MI is grateful that these organizations laid the foundation for provincial proof of principle funding and looks forward to continuing a successful provincial PoP program.

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