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When your business demands staying current with the newest inventions springing up across 15 academic members, keeping pace with what’s happening is half the challenge.
That’s part of the reason why MaRS Innovation and Prima IP are sponsoring winners of an 
Angels’ Den competition involving the Institute for Biomedical Engineering, Science and Technology (iBEST).
iBEST is a partnership between Ryerson University and St. Michael’s Hospital that brings together Ryerson’s engineering and science strengths with St. Michael’s biomedical research and clinical expertise. The contest, which took place on June 26, 2015, riffs on the popular Dragon’s Den format.
“As a guest judge for the iBEST trainee competition this year, I reviewed a lot of thought-provoking ideas and MaRS Innovation congratulates all of the 2015 award winners,” says Dr. Fazila Seker, director of physical sciences. “Many of our portfolio technologies have their origins in this type of collaboration between researchers and medical staff, which is why we’re so excited to sponsor this competition. Fostering these types of relationships is vital to Toronto’s commercialization ecosystem.”
For the 2015 award period, MaRS Innovation will provide the competition’s winners with upfront commercialization consultation services to help shorten the time it may take for their ideas to reach the market. These services will be offered in collaboration with the technology transfer offices within St. Michael’s Hospital and the Vice-President of Research and Innovation office at Ryerson University as appropriate. In partnership with Prima IP, MaRS Innovation will also cover the initial patent application preparation and filing for the top two awardees of the iBEST event. Future award winners will receive similar support.
“Canada’s future economy depends on programs that encourage and facilitate innovation allowing Canada to remain competitive in the global marketplace and attract foreign investment,” said Marcelo König Sarkis, principal, founder and senior patent agent at Prima IP. “We are passionate in our support for Canadian inventions from the initial research phase to start-up and beyond.”
The University of Toronto will receive $3,056,000 in funding over two years from the Ontario government to increase its training and support for student entrepreneurship.
The funding is part of the Campus-Linked Accelerator Program (CLA), announced today by Reza Moridi, Ontario’s Minister of Research and Innovation, and Minister of Training, Colleges and Universities.
“Fostering the entrepreneurial spirit among students is a key component of Ontario’s Youth Jobs Strategy, through programs that help transfer their ideas and skills to the marketplace while creating rewarding careers,” said Minister Moridi. “By partnering with colleges and universities to support entrepreneurship, we are ensuring our province’s business leaders of tomorrow are getting the support they need to succeed today.”
With this funding, U of T will continue to build on its long track record of success in this area by expanding the entrepreneurship opportunities it offers to students, primarily through its four principal accelerators: The Creative Destruction Lab (Rotman School of Management), The Hatchery (Faculty of Applied Science and Engineering), The Impact Centre (Faculty of Arts & Science), and UTEST (The Innovation and Partnerships Office, produced in partnership with MaRS Innovation).
The CLA program provides critical funding that enhances the support U of T and MaRS Innovation offer to our current UTEST companies,” said Kurtis Scissons, co-director of UTEST. “It also allows UTEST to expand to work with a greater number of student entrepreneurs in computer software, and is a catalyst for other UT CLA’s to combine their entrepreneurship efforts in a synergistic, complimentary way.”
Jeff 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.
The MaRS Innovation Industry Access Program (MI-IAP) is a simple, formalized process for marketing early-stage technologies to MI’s industry partners: Baxter, LifeLabs (formerly CML Healthcare), GSK, Johnson & Johnson, Pfizer and Merck.
The program’s goal is to secure funding for researchers within MI’s membership through these collaborative, strategic R&D partnership programs.
First run in November 2013, the MI-IAP allows researchers to easily determine whether an industry partner is interested in co-developing their technologies. The application process is deliberately brief at the outset.
“Last fall, we received 28 statements of interest, 12 of which we invited to submit a non-confidential summary package,” said Ben Rogers, director, Technology Transfer & Scouting. “Of these, six have been invited for a technology presentation with an industry partner. We’d like to see all of those numbers grow during this application round.”
The program will also make it easier for researchers to find prospective industry partners.
The University of Toronto Early-Stage Technology (UTEST) program helps U of T students, recent grads or professors to take their ideas to market.
Successful applicants get mentoring, funding and work space over a 12-month period as they advance their ideas. The program is co-managed by MaRS Innovation and the University of Toronto.
In a U of T “Spotlight on Startups” news article, Brianna Goldberg spoke with Mike Betts and Kurtis Scissons, UTEST co-directors, on what makes for a great applicant.
Here’s an excerpt:
What are you looking for in an exceptional UTEST application?
Evidence of a strong and committed team. It’s critical to have standout technology and a great market opportunity but at the end of the day it’s the team that makes these businesses work—it’s about having a balance of amazing technical talent and business leadership and execution skills. When we come across an application that has a really awesome team, it stands out. – Mike Betts, UTEST co-directorWhat’s one common mistake you see in applications for UTEST that might cause them to be rejected?
Commitment. We want entrepreneurs that are fully committed to the program and to their new companies. UTEST is a serious program for serious entrepreneurs who want support to create a sustainable successful company. The application must exude your confidence in your idea and the effort the entrepreneur(s) will commit to see it successful. – Kurtis Scissons, UTEST co-directorWhat advice would you give to those considering applying to UTEST?
1. Build a balanced team. Understand the strengths of your team members and ensure that gaps can be addressed either through internal change or be open to external hires.2. Be passionate about your idea but also understand it will be a rollercoaster of emotions. –Scissons
Betts and Scissons are accepting applications for UTEST’s third cohort until April 17. Current students, current faculty and recent graduates of U of T are welcome to apply.
Whirlscape Inc., a graduate of the University of Toronto Early-Stage Technology (UTEST) program’s cohort graduate, exits beta with the version 2.0 release of Minuum, their hit “small keyboard for big fingers.”
Whirlscape Inc. graduated from the University of Toronto Early-Stage Technology (UTEST) program’s first cohort. UTEST is accepting applications for its third cohort until April 17. Click here to apply.
Version 2.0’s release is already a popular download for Android Apps in the Google Play store. Users can get a 30-day free trial of Minuum and experience new features, including a widely anticipated addition of a Brazilian Portuguese language module, the company’s most requested language.
Will Walmsley, Whirlscape’s CEO, spoke with Daniel Bader of MobileSyrup. Here’s an excerpt from the article:
“We’re constantly testing out new features and improving the disambiguation algorithms,” says Will Walmsley, CEO and co-founder of the company he started at U of T’s Dynamic Graphics Project lab. The company raised $500,000 in seed funding earlier this year, and under the advisement of Y Combinator, began releasing often, trialling new features in what they call Bonus Panels, secondary functions that quickly allow users to change languages, add emojis and more.
OCAD U, one of MaRS Innovation’s 16 member institutions, is participating in seventh annual showcase know as The Artist Project from February 20 to 23. The event demonstrates how art intersects with people, fashion and the environment.
MaRS Innovation is supporting several fashion installations through OCAD’s Imagination Catalyst in the Installation Zone, specifically artists Jennifer Ilett and MeU.
Jennifer Ilett, in collaboration with Sprout Guerrilla, will be showcasing a special moss graffiti art installation that combines technical, digital techniques and imagery with the natural media of living plant life.
Schwartz Reisman Innovation Campus, West Tower
108 College Street, Suite 530
Toronto, ON M5G 0C6
info@tiap.ca