TORONTO (May 11, 2016) – Johnson & Johnson Innovation LLC, today announced the opening of JLABS @ Toronto, a new 40,000-square-foot life sciences incubator, providing entrepreneurs shared lab space and…
TORONTO, March 3, 2015 — ChipCare Corporation, a University of Toronto start-up company commercializing a handheld, blood-testing platform for HIV and other infectious and non-communicable diseases has closed a $5.045 million Series A financing to bring its first-generation product to market while further developing the platform’s next generation products.
The Wall Street Journal‘s Venture Capital Dispatch blog, Yonge Street Media, BetaKit and PEHub covered this announcement, along with the University of Toronto’s news site and a follow-up BetaKit article on how smartphones and start-ups are increasing access to healthcare. Information about past ChipCare investment rounds and other company information is available in our ChipCare news archive.
Insufficient access in remote health settings to simple, accurate and affordable diagnostic tests makes it difficult to provide timely, evidence-based clinical care. Current technology within central laboratories cannot fulfill the existing need in remote health settings, including community level health facilities, remote communities, emergency departments, ICUs and doctors’ offices. The result is millions of preventable deaths from infectious and non-communicable diseases globally, reduced economic growth, and limited human development.
ChipCare’s technology will provide simple-to-use, mobile, lab-quality blood testing in remote health settings. The company’s first HIV-related test, targeted at linking people with HIV to appropriate treatments, is scheduled to hit the market in late 2016. The company is developing other products that leverage unique attributes of ChipCare’s technology.
Puffin Partners, LP, of Dallas, Texas led the financing round, which includes existing investors MaRS Innovation and Maple Leaf Angels, and new investors, including the Winfield Venture Group, Epic Capital, and additional Canadian and U.S. Angel investors.
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.
TORONTO, ON – A new program that provides nascent software companies with start-up funds, work space, mentoring and business strategy support, was launched today by the University of Toronto and commercialization partner MaRS Innovation, with support from the MaRS Discovery District.
TechVibes has a profile page for UTEST and covered CoursePeer as part of their students start-ups series.
The new program, called University of Toronto Early Stage Technology (UTEST), is part of a growing ecosystem of incubators and commercialization support services at U of T, including the newly-launched Banting and Best Institute. UTEST is unique among campus incubators in that its companies receive start-up funds—$30,000 each in this inaugural year—and because it accepts companies in the very earliest stages of idea generation, before they’re ready for traditional incubators.
Schwartz Reisman Innovation Campus, West Tower
108 College Street, Suite 530
Toronto, ON M5G 0C6
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