Ilse Ilse Canada’s Commercialization Challenge Ilse Treurnicht CFI AGM – October 2008
pg 2 Remarkable Times
Healthy Economy Our Strong Education System Competitive Productive Science Base Advantages Talented & Skilled Workforce Livable Communities Global Persona $### Multicultural Civil Society pg 3 pg 3
Competing is one thing. W inning is another!
At an average of only 3.3 people per sq km, Canada has one of the lowest population densities in the world.
Edmonton Edmonton Edmonton Calgary Calgary Calgary Saskatoon Vancouver Saskatoon Vancouver Vancouver Québec City Québec City Halifax Halifax Halifax Ottawa Ottawa Ottawa Winnipeg Winnipeg Winnipeg Montr Montré éal al Montréal Waterloo Waterloo Waterloo Hamilton Hamilton London Hamilton London London Toronto Toronto Toronto
Is the world Flat or Spiky? pg 7
talent, $ $ are m obile pg 8 Global
pg 9 stickiness? How do we create
1.3 1.1 300 32.6 VS. Million People Million Billion Billion pg 10
pg 11
pg 12
pg 13
Local Strength, rength, pg 14 Global Reach ach Global R Local St matters Place
College of Founders College of Founders AIC Limited MDS Inc. AIC Limited MDS Inc. AstraZeneca Canada Inc. Mr. Peter Munk AstraZeneca Canada Inc. Mr. Peter Munk Mr. Lawrence S. Bloomberg RBC Financial Group Mr. Lawrence S. Bloomberg RBC Financial Group Cancer Care Ontario Mr. Joseph L. Rotman Cancer Care Ontario Mr. Joseph L. Rotman Eli Lilly Canada Inc. Mr. Allan Slaight Eli Lilly Canada Inc. Mr. Allan Slaight Dr. John R. Evans Mr. William P. Wilder Dr. John R. Evans Mr. William P. Wilder Mr. Arthur S. Labatt Mr. Arthur S. Labatt
The Physical Platform The Physical Platform The MaRS Centre is a convergence facility located in the heart of Toronto’s Discovery District, Canada’s largest research cluster � Phase I of the MaRS Centre (700K sf ) is home to over 70 organizations � Ratio of private to public sector tenants is 3: 1 � MaRS Incubator (35K sf) houses 30 promising emerging life sciences, engineering and information technology companies � MaRS Collaboration Centre is a conference venue, for use by MaRS, its tenants and the community � Phase II (750Ksf) is scheduled to open in 2010 pg 19
Proof of Proof of Universities Universities Principle Grants Principle Grants Research Research Pre-Seed Funds Pre-Seed Funds Hospitals Hospitals Individual Individual Angels Angels Scientists Scientists Philanthropists Philanthropists “ Generating Inventors Inventors VCs VCs Purposeful “ Banks Banks Collisions Individual Individual Service Providers Service Providers Entrepreneurs Entrepreneurs Government Government Incubator Incubator Industry Associations Industry Associations Companies Companies Regional Innovation Regional Innovation Small/ Medium Small/ Medium Organizations Organizations Sized Business Sized Business Large Large Sector-based Sector-based Corporations Corporations Organizations Organizations pg 20
Phase I Phase II
Com m unity Anchored in pg 22
Universities Universities Strong trong matter … … matter S
Strong Science Science & & Technology Pipeline Technology Pipeline Strong pg 24
Linking Creative Creative and and Business Business A Assets ssets of the of the City City Linking Discovery District Financial District Creative & Arts District Gardiner Museum of Ceramic Art Royal Conservatory of Music Royal Ontario Museum Women’s College University of Toronto The MaRS Centre UHN Toronto General UHN Princess Margaret Hospital for Sick children Mount Sinai Ryerson Toronto Rehab Inst University Art Gallery of Ontario TIFF & OCAD Canadian Opera House Financial District Entertainment District pg 25
Advantage Advantag pg 27 Shared Shared Collaboration Netw orks
Regional Partnerships Regional Partnerships Province of Ontario (Ottawa) MaRS Landing (Guelph) Peterborough I nnovation Cluster (Waterloo Region) TECH Alliance (London) (Hamilton) pg 28
Edinburgh China India CANADA CHINA EDINBURGH, SCOTLAND INDIA Vancouver FLORIDA EASTERN MASSACHUSETTS Seattle LOS ANGELES METRO Toronto Montreal NEW JERSEY/SUBURBAN PHILADELPHIA NEW YORK CITY Eastern Massachusetts RESEARCH TRIANGLE PARK New York City SEATTLE New Jersey / Suburban Philadelphia Suburban Washington D.C. SAN DIEGO San Francisco Bay SAN FRANCISCO BAY SUBURBAN WASHINGTON D.C. Los Angeles Metro Research Triangle Park, N.C. San Diego Florida pg 29
pg 30 pg 30
Cultural Gap Universities Angel/ Seed Early Tech Later Stage Global Hospitals Stage Stage Financing Gap Transfer Financing Markets Gov. Labs VC VC Skills Gap Early Engineerin g Research I P Market Needs Lab Prototype Sales Production Research Push � Cultural gap is a critical challenge � Mism atch of offerings to VC/ m arket needs � Lim ited business focused project m anagem ent � High technology risk, lack of pre-seed capital for com m ercial validation � Lim ited strategic bundling of I P or portfolio m anagem ent
IP/ Technology Platform Product Platform Leaving the Gap Entering the Gap � Product/ business focus � Knowledge/ education focus � � Early management No Management � Limited IP protection � Strengthened IP portfolio � High technology risk � Technology proof-of-concept � Limited market intelligence � Market/ customer feedback � No product/ commercial strategy � Focus and development roadmap � Broad scope, curiosity driven � Milestones and timelines � Limited understanding of � Positioned for seed funding financing options � Confidentiality � Publications
The commercial development of academic research results are particularly challenging in Canada: � Nascent technologies � Limited number of sophisticated R&D intensive receptors locally � Limited funding for market validation � Limited risk capital � Few serial technology entrepreneurs with global experience � Small local market for early customer validation pg 33
A Novel Commercialization Approach A Novel Commercialization Approach Slow Process = Science Capital Business Science Capital Business High Risk pg 34
A Novel Commercialization Approach A Novel Commercialization Approach � Demand ‐ based, Business Business market focused innovation � Increased speed = = � Improved scope � Scalability Science Capital Science Capital � Multi ‐ dimensional resources pg 35
MaRS Business Services Capital Advisory Commercialization Services Services Services Market Intelligence Entrepreneurship Education pg 36
MaRS Business Services Capital Advisory Commercialization Services Services Services Market Intelligence Entrepreneurship Education pg 37
Innovation Innovation pg 38 Capacity Capacity Leverage and Scale
Integrated Commercialization Platform Integrated Commercialization Platform MaRS Innovation pg 39
MaRS Innovation will, for the first time, aggregate the exceptional discovery pipeline of 14 leading Toronto academic institutions to build a diversified portfolio of assets, and harness the economic potential of the best opportunities. pg 40
� Build a professionally managed, business accelerator platform as a single point of entry for industry partners and investors � Increase the scale, scope and viability of IP offerings, and the quantity and quality of deal flow from partner institutions � Facilitate strategic research collaborations with industry partners � Launch and grow robust spin-off companies � Attract new talent � Catalyze and attract sources of risk capital for translational research, market validation, company formation and growth � Best in class performance, with significant impact pg 41
Culture Draws aws Culture D Talent Talent Entrepreneurship of Culture
pg 43 pg 43 Engage Engage People People Young Young
Fuel Grow th Talented new Canadians
Private/Public blic Partnerships pg 45 Private/P Pa Partnership Public/ Private
Public & Private Mix Public & Private Mix OnSETT University of Toronto Asset Management pg 46
Public & Private Mix Public & Private Mix OnSETT OnSETT University of Toronto Asset Management University of Toronto Asset Management pg 47
Porous Boundaries Porous Boundaries Entrepreneurship Technology Science & Social Technology Incubation I nnovation I nnovation Investment Capacity pg 48
Could a $ 1 0 0 Laptop Poverty? Elim inate pg 49
Econom ic I m pact Real Estate Services Cluster Developm ent Office & Laboratory Facilities | MaRS Incubator Strategic Partnerships | Stakeholder Support MaRS Centre Development | IT/ AV Services Community Programs | Awards & Recognition MaRS Collaboration Centre Talent & Knowledge Management Public Policy Business Services Commercialization | Market Intelligence | Capital & Investment MaRS Advisory | Entrepreneurship Education
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