information and communications technologies (ICT)

Global University Venturing features MaRS Innovation’s unique model for technology transfer

September 14, 2015
Susanne Staer
Media Coverage

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

MaRS Innovation’s “model solves the two weakest points in tech transfer: the lack of dealflow and the ability to match public funding,” writes Thierry Heles in, “MaRS Innovation: A Unique Model for Tech Transfer,” for Global University Venturing.

This feature was also covered in Techopia.

The article, which includes an interview with Dr. Rafi Hofstein, president and CEO of MaRS Innovation, was published September 14, 2015.

Here’s an excerpt exploring the range of MI’s portfolio and Hofstein’s strategy for addressing technologies emerging in new areas:

In the beginning, Mars received primarily discoveries in the medical sector, but the balance has since shifted to 60% medically-oriented research and 40% for other areas. The medically-oriented discoveries, Hofstein elaborated, are a diverse set of technologies and include everything from drug development and molecular diagnostics to medical devices and healthcare IT.

The remaining 40% meanwhile cover “a smörgåsbord all the way from alternative energies and solar energy, and water reclamation to all sorts of mobile apps”.

Whirlscape’s team on Minuum, Indiegogo and crowdfunding a beta keyboard launch

Every six weeks, MaRS Innovation’s marketing and communications manager writes a guest post for the MaRS Discovery District blog profiling MI’s activities or one of our start-up companies. You can read the original post on the MaRS blog.

On Monday, June 17, Whirlscape Inc. released the beta version of its hotly anticipated, tiny, one-dimensional digital keyboard, Minuum: “the little keyboard for big fingers.”

If you follow tech gadget news, you’ve likely read about or even supported the company’s successful Indiegogo campaign, which raised more than US$87,000—over 870% above their modest initial goal of $10,000—from nearly 10,000 supporters who have now become beta users for the product.

The stats don’t end there. By number of funders, the Minuum Keyboard Project’s campaign is in Indiegogo’s top 10 of all time and is ranked No. 2 among all technology campaigns. Over 1.1 million people worldwide viewed Minuum’s original teaser video on YouTube, which the Whirlscape team edited and shot themselves.

Five UTEST companies to tackle critical healthcare challenges

Program’s second cohort includes eQOL, E-Twenty Development, Root2Crown, Treata Smart Solutions and TrendMD

TORONTO (May 14, 2013) — Five companies tackling pervasive healthcare challenges — such as assessing dental health, helping patients and medical personnel navigate hospitals with greater ease, staying current with medical literature, or creating digital tools to help care for the elderly or those with chronic health conditions — have been admitted to the University of Toronto Early Stage Technology (UTEST) program’s second cohort.

UTEST, supported by the University of Toronto’s Connaught Fund, Innovations & Partnerships Office (IPO) and MaRS Innovation (MI), is part of a growing system of incubators and commercialization support services at U of T.

Two companies in UTEST’s second cohort, E-Twenty Development Inc. and Treata Smart Solutions Inc. are participating in Canada 3.0 at the Metro Convention Centre May 14 and 15, 2013, in Toronto.

This announcement was covered in PE Hub.

Each company will receive up to $25,000, incubation space in the MaRS Discovery District, mentoring and business strategy support to develop protectable intellectual property, launch their products and gain market traction. They are also eligible to become clients of MaRS Discovery District’s ICE or Healthcare practices.

UTEST seeks scalable, enterprise-focused software applications interested in building business-to-business customer bases — and preferably operational products with a short term to market. The program is co-directed by Kurtis Scissons (U of T IPO) and Dr. Lyssa Neel (MI).

The second cohort has big shoes to fill. UTEST’s first cohort has collectively secured over $1.2 million in follow-on funding and currently employs 29 highly skilled people (HQPs). Each company also filed solid patent protection and most have secured customers. Notably, Whirlscape’s Indiegogo campaign secured over $87,000 in crowd-sourced product funds from nearly 10,000 users, and was featured in the Financial Post, TechCrunch, Mashable and The Verge, among other global media outlets.

TechWomen Canada selects UTEST co-director for Silicon Valley program

May 3, 2013
Susanne Staer
Awards

MaRS Innovation’s (MI) Lyssa Neel, co-director of the UTEST program and project manager, has been selected to represent MI’s ICT start-up companies at the TechWomen Canada program in San Francisco, which runs May 13 to 16, 2013.

The announcement was covered in TechVibes:

TechWomen Canada is run by the Canadian Consulate and is focused on providing Canadian women leaders in the ICT sector an opportunity to expand both professional and business networks in Silicon Valley.

What does MaRS Innovation’s funding extension mean for Toronto’s academic entrepreneurs?

Every six weeks, MaRS Innovation’s marketing and communications manager writes a guest post for the MaRS Discovery District blog profiling MI’s activities or one of our start-up companies. You can read the original post on the MaRS blog.

Created in 2008, MaRS Innovation (MI) bridges the chasm between the early-stage technologies emerging from its 16 member institutions and successful startup companies and licensable technologies.

By offering early-stage funding in tandem with hands-on management, business development, mentorship and intellectual property protection strategy, MI acts as a commercialization agent for its members and researchers.

Earlier this year, the Networks of Centres of Excellence of Canada awarded MI $14.95 million to continue its mandate as a Centre of Excellence for Commercialization and Research (CECR), matched by $25 million from membership fees and private sector investments.

So what does that success mean for MI’s ability to serve the needs of academic entrepreneurs based in Toronto?

Minuum closes on $60,000 crowdfunded stretch goal to build wearable development kit

Minuum's one-line QWERTY keyboard on a touch device — Minuum’s one-line QWERTY keyboard on a touch device leaves more screen space for content.

Whirlscape Inc.‘s Minuum keyboard has enjoyed the kind of launch that start-up founders dream about yet few achieve.

UPDATE: Whirlscape’s Minuum Project has now cleared its $60,000 fundraising target. Mobile Syrup wrote a follow-up article on the campaign with details about the Wearable Development Kit. Their technology also got a second spot on CTV News‘s Tech Tuesday report and was featured on Global TV’s The Morning Show.

The little keyboard for big fingers, which launched an Indiegogo campaign a week ago today to support the launch of its Android keyboard app and a wearable development kit, is currently less than $4,000 from its crowd-funded stretch goal of $60,000.

The company was featured on CTV News on Mar. 24, 2013. The CTV video story and photos of CEO Will Walmsley and CTO Xavier Snelgrove are available on CTV’s website.

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

January 30, 2013
Susanne Staer
CoursePeer

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

Got 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 District, mentoring 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.

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.

York University becomes 17th Member of MaRS Innovation

MaRS Innovation to act as commercialization agent for York’s life sciences and technology discoveries, leveraging new potential for York’s existing $70 million in research initiatives

TORONTO, May 9, 2011 – York University has become the latest member of MaRS Innovation, the commercialization agent for many leading Toronto-based universities, hospitals and research institutes.

Stan Shapson, vice-president Research & Innovation, York University — **Stan Shapson**, Vice-President Research & Innovation, York University

“York has become one of Canada’s fastest-growing centres for research and innovation,” said Stan Shapson, vice-president Research & Innovation at York University. “We typically get 10 to 20 discovery disclosures a year. Joining MaRS Innovation allows us to deliver the most competitive commercialization services to the researchers making these discoveries. We’re confident that membership in MaRS Innovation will boost that number and accelerate the commercialization of York’s most promising research.”

Earlier this year, York University launched its Innovation York office. Based in York Region, Innovation York works with other partner organizations in the Markham Convergence Centre to build upon research partnerships between York researchers and life science and technology companies based in York Region and the Greater Toronto Area. It’s also making York’s research and infrastructure more accessible to industry, government agencies and community partners.