Organizations bring together their DaRMoD and UTEST programs to help advance six emerging Ontario ventures
Toronto Innovation Acceleration Partners (TIAP), the University of Toronto, and the Vector Institute for Artificial Intelligence are pleased to announce a new partnership aimed at helping build Ontario’s next generation of successful life science and other innovative ventures.
Co-delivered by TIAP, the University of Toronto Early Stage Technology (UTEST) Program supports the creation of new research-based companies by providing intensive entrepreneurial education, strategic advice and mentoring, investment capital, and dedicated incubation space to University of Toronto innovators.
Through this unique collaboration, selected ventures participating in the UTEST Program will now also receive support under the Vector Institute’s Data Readiness, Model Development, and Model Deployment (DaRMoD) training program which equips SMEs with the skills and knowledge necessary to accelerate the implementation of Machine Learning (ML) within their organizations.
The first six ventures to receive this enhanced support are:
- Balliscor – A biomedical company helping improve the lives of heart failure patients through its SmartTile device which leverages ballistocardiograph (BCG) data to transform heart health assessment;
- Biobox – A software company developing a platform for biotechnology companies to create biological knowledge graphs and reasoning engines to prioritize drug targets;
- Mazlite – A technology company that has developed a unique platform that leverages physics, Al, and sensors for real-time spray monitoring in industrial and hazardous settings;
- Micellae Delivery Systems – An innovative start-up with a mission to advance drug discovery through a versatile Drug Delivery platform and a library of formulations designed to significantly improve the effectiveness of fat-soluble therapeutic compounds, including cannabinoids;
- Tabiat – A digital health company that offers an AI-first remote patient monitoring platform that empowers patients and care providers to better manage chronic obstructive pulmonary disease (COPD) through real-time insights while increasing revenue for clinics;
- Verinova – A cutting-edge start-up developing an AI-driven platform revolutionizing the way businesses harness their data for enhanced efficiency and strategic decision-making – including providing a unique solution and approach to the worldwide challenge of Making Hybrid Work Work
Parimal Nathwani, President and CEO of TIAP commented, “TIAP is committed to transforming the work of our world-class research institutions such as the University of Toronto into new commercial health innovations and successful new Ontario-based life sciences companies. Doing this effectively requires a well-resourced commercialization pathway and a strategically coordinated ecosystem built on strong alignment and alliances among partners — all perfectly exemplified by this exciting new collaboration.”
Since 2008, TIAP has been building relationships with innovators and entrepreneurs at Toronto’s top universities, hospitals and research institutes to identify the most exciting sparks of ground-breaking therapeutic, medical device and digital health/AI innovation; and then providing the tools, resources, and know-how to transform this work into successful commercial ventures. With a 15-year track record that includes the launch of more than 70 new companies, the raising of over $1B in private investment, and the creation of more than 1,000 jobs, TIAP has generated significant commercial and social return on our Member Institutions’ research — making a measurable impact on the growth of the Ontario life sciences sector and a significant contribution to Canada’s economic prosperity. TIAP is partially supported through the Federal Economic Development Agency for Southern Ontario. www.tiap.ca
The University of Toronto Early-Stage Technology (UTEST) Program provides support to University of Toronto entrepreneurs to create research-based companies. In partnership with Toronto Innovation Acceleration Partners (TIAP) and with the financial support of the Connaught Fund, it provides companies with investment capital, mentoring, business strategy and incubation space at the University of Toronto St. George Campus. Since its inception in 2012, the UTEST program has supported 170 companies to raise more than $700m of follow-on investment. www.utest.to
About the Vector Institute
Launched in 2017, the Vector Institute works with industry, institutions, startups, and governments to build AI talent and drive research excellence in AI to develop and sustain AI-based innovation to foster economic growth and improve the lives of Canadians. Vector aims to advance AI research, increase adoption in industry and health through programs for talent, commercialization, and application, and lead Canada towards the responsible use of AI. Programs for industry, led by top AI practitioners, offer foundations for applications in products and processes, company-specific guidance, training for professionals, and connections to workforce-ready talent. Vector is funded by the Province of Ontario, the Government of Canada through the Pan-Canadian AI Strategy, and leading industry sponsors from across multiple sectors of Canadian Industry. www.vectorinstitute.ai
Barry Gee – Director, Public Affairs
Toronto Innovation Acceleration Partners (TIAP)