"As co-designers of this venture capital fund and one of its many champions, MaRS Innovation welcomes this news," says Dr.
"By their nature and the need for regulation, life sciences companies take considerable time to mature products and their underlying technologies. Expanding the funding available during this critical stage through this unique public-private partnership will give more
The venture capital fund is part of the province's 10-year economic plan, which is described in the 2014 Ontario Budget as "focused on investing in people, building modern infrastructure, and supporting a dynamic and innovative business climate."
Other promising commitments include
"This early-stage venture capital fund will act as a critical financial bridge between the discovery-stage academic research the ORF supports and the venture capital required to propel a technology through advanced product development in healthcare," says Hofstein. "Through its existence, we also anticipate a catalytic impact for job creation in the life sciences sector. Having access to this funding will help more Canadian scientists to grow their technology in their own country while creating highly qualified jobs for the next generation of biotechnology professionals."
About MaRS Innovation
MaRS Innovation is the commercialization agent for
SOURCE MaRS Innovation
Image with caption: "MaRS Innovation's high-touch commercialization model brings technologies emerging from its 16 academic member institutions to market through embedded management, product development, very early-stage investing and industry partnerships. (
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