True Blue Expo

A plant-based alternative to conventional plastic. Using drones to tackle reforestation in wildfire-ravaged locations. And a new generation of self-driving technologies that leverage the full potential of artificial intelligence.

These are just some innovative ideas that have emerged from the University of Toronto’s entrepreneurship community in recent years.

Ranked one of the top five university business incubators in the world, U of T Entrepreneurship is set to celebrate these and other startups, as well as their founders, during its annual U of T Entrepreneurship Week from March 6 to 9. The schedule includes pitch competitions, workshops, panel discussions and the popular True Blue Expo, which will feature the founders of more than 40 of U of T’s top startups.

Another highlight: Raquel Urtasun, founder and CEO of Waabi and a U of T professor of computer science, will discuss lessons learned while building her self-driving vehicle company at the Desjardins Speakers Series on March 9.

Here are 10 exciting U of T startups to keep an eye on in 2023:

Arma Biosciences

The ability to give patients agency over their own health monitoring was one of the reasons Surath Gomis co-founded Arma Biosciences. The startup’s goal is to develop a new sensor technology for biomarker-informed digital health care. In partnership with Analog Devices, work on the company’s first product is underway – a handheld finger-prick blood test for patients with heart failure.

With a PhD in electrical and computer engineering from U of T, Gomis established the company in 2020 with his supervisor Shana Kelley, a researcher in U of T’s Leslie Dan Faculty of Pharmacy and Temerty Faculty of Medicine.

Gomis hopes future products will include wearable, implantable and ingestible sensors for monitoring applications.

Erthos

U of T alumnae Nuha Siddiqui and Kritika Tyagi are working to transform the plastic industry for the better. In 2018, the pair co-founded Erthos, a company that offers fully biodegradable plant-based material as a replacement for single-use plastics.

Erthos creates resins using materials that are both compostable and microplastic-free – and compatible with existing manufacturing technology. Siddiqui and Tyagi recently made the Forbes list of 30 under 30 in the social impact category, which noted that Erthos has raised more than US$5.5 million in funding.

TransCrypts

Ali Zaheer and Zain Zaidi co-founded TransCrypts to transform digital privacy and security. Back in 2020, they set out to answer a simple question: “Why can’t consumers own their important documentation digitally and in a way that can be easily verified?”

TransCrypts – which took home a $10,000 second-place startup prize at a U of T pitch competition during last year’s Entrepreneurship Week – is a blockchain-based document verification platform that gives people direct access to their official documents, such as medical records. Supported by U of T Scarborough’s The Hub, Zaheer and Zaidi have already helped thousands of Ukrainian refugees access medical records through a pilot project and landed US$2.4 million in funding from backers including Shark Tank investor Mark Cuban.

Waabi

A world-leading expert in machine learning and computer vision, Raquel Urtasun was inspired to start Waabi when she recognized a need for a new generation of self-driving technologies that leverage AI’s full potential. Backed by high-profile investors, including Volvo and Uber, the company is leading the way when it comes to the next generation of self-driving solutions.

The company recently launched Waabi World, an advanced simulator to test its autonomous vehicles, and Waabi Driver, its first generation of self-driving trucks. Urtasun says she focused on the long-haul trucking sector because it’s one of the most dangerous occupations – not to mention an industry that suffers from a shortage of drivers.

WooYourBoo

Husband-and-wife co-founders La Vance and Colleen Dotson – head coach of the U of T Track & Field Club – are the entrepreneurial force behind a slick dating app for people already in relationships.

WooYourBoo aims to help partners reconnect and better communicate with each other through quizzes, activities and rewards.

“Our goal is to create depth and help you reconnect with this person that you’ve committed to – and make it fun,” Colleen recently told U of T News.

The Dotsons say that U of T’s Black Founders Network was instrumental in building WooYourBoo, which was among the inaugural cohort of the BFN Accelerate Program.

OTI Lumionics

OTI Lumionics could change the look of the smartphone in your pocket.

Founded by U of T alumnus Michael Helander, the company has been working on expanding its line of organic LED technology solutions – including smartphone screens that are uninterrupted by notches, which are currently needed to house front-facing cameras and other equipment in some smartphone designs.

The company, which was spun out of research at U of T, has collaborated with Microsoft Quantum and, most recently, their name has been connected to Apple as a key supplier for a future notch-free iPhone.

Flash Forest

Flash Forest, a startup with ties to U of T Mississauga, is fighting climate change and restoring forests by leveraging the use of drones, AI, geographic information systems and plant science technology.

The company – which received support from U of T’s Mississauga’s ICUBE incubator – recently inked a federal contract to use drones to plant more than one million trees over the next two years in wildfire-ravaged locations across Canada.

The co-founders, brothers Bryce and Cameron Jones, say they are focused on restoring severe wildfire sites where the seed pods and cones are lost.

Signal 1

Signal 1 is looking to transform health care by equipping doctors and nurses with real-time AI predictions.

The company, co-founded by CEO Tomi Poutanen, a U of T alumnus, and Mara Lederman, professor of strategic management at the Rotman School of Management, has built a machine learning tool called CHARTWatch that can help predict how much support a patient will need.

The tool was originally developed at St. Michael’s Hospital by a team led by Signal 1's clinical adviser Muhammad Mamdani, who is vice-president of data science and advanced analytics at Unity Health Toronto and holds cross-appointments at U of T’s Leslie Dan Faculty of Pharmacy, Temerty Faculty of Medicine and Dalla Lana School of Public Health.

The surgical unit at St. Michael’s Hospital has already begun using CHARTWatch to help care teams communicate and make decisions.

Mounib Real Food Only

When U of T Scarborough alumna Iman Mounib encountered gut health issues, she took it upon herself to create products that are free of refined sugars, palm oils, gluten and dairy.

She founded Mounib Real Food Only, which sells a chocolate hazelnut spread made of just three local ingredients. The company also makes a peanut chocolate spread, as well as an almond chocolate version. Mounib’s goal was to create alternatives to popular products that are both tasty and good for you.

The products are sold in almost 20 restaurants, cafes and stores in the Greater Toronto Area, as well as one location in Ottawa.

HippoCamera

HippoCamera is a smartphone application that helps to improve memory recall, which could be beneficial for individuals in the early stages of Alzheimer’s disease or other forms of memory impairment.

Backed by years of research at U of T, the app has an easy-to-use interface and is a personalized way to boost recall of daily experiences and enhance activity in the hippocampus, a part of the brain that plays a key role in memory.

Morgan Barense, a professor in the department of psychology in the Faculty of Arts & Science and co-author of a recent study on the technology, said her team found that memories that were associated with the HippoCamera were long-lasting – and that the device worked for both healthy older adults and those starting to show cognitive decline.

Learn more about U of Entrepreneurship Week

U of T Entrepreneurship Week: 10 startups to watch

rahul.kalvapalle — Tue, 10 Mar 2020 21:45:09 +0000

U of T Entrepreneurship Week: 10 startups to watch

rahul.kalvapalle Tue, 03/10/2020 - 17:45

Cutline

Catherine Chan of U of T startup Honeybee Hub, which connects researchers with study participants, speaks with attendees at the True Blue Expo in 2019 (photo by Nick Iwanyshyn)

Topic

Creative Destruction Lab

Entrepreneurship

Entrepreneurship Hatchery

Faculty of Applied Science & Engineering

Faculty of Arts & Science

Faculty of Dentistry

Faculty of Medicine

Global

Health Innovation Hub

IBBME

Impact Centre

Institute of Biomaterials and Biomedical Engineering

Leslie Dan Faculty of Pharmacy

Nutritional Sciences

Rotman Commerce

Social Entrepreneurship

From speeding the discovery of life-saving drugs to reducing the amount of plastic clogging the oceans, University of Toronto entrepreneurs and their startups are engaged in tackling some of the most pressing challenges of the day.

Over the past decade, U of T has nurtured 500 startups that have secured some $1.5 billion in investment. Many of the companies were founded by students who sought to provide innovative solutions to problems. Others were launched by professors who were looking to implement their research in the real world.

What they all have in common is that they emerged from a university entrepreneurship ecosystem that’s ranked first in Canada and among the top 10 in the world.

With Entrepreneurship Week underway, here’s a look at 10 exciting U of T startups to keep an eye on in 2020:

Structura Biotechnology

(photo by Chris Sorensen)

When researchers in the United States worked to create the first 3D, atomic-scale map of the part of the novel coronavirus that infects human cells, a key step toward creating a vaccine, they relied on software created by U of T startup Structura Biotechnology.

Structura’s cryoSPARC program, which uses artificial intelligence to create 3D visualizations of protein, was spun out of Ali Punjani’s PhD research in computer science at U of T and was designed by alumnus Suhail Dawood. The startup received support from U of T’s UTEST accelerator.

The software enables scientists to visualize images captured using cryogenic electron microscopy, a Nobel Prize-winning technique that enables the capture of high-resolution photos of proteins by shooting electrons at frozen samples.

The technique has already garnered the attention of several big drug companies, but Punjani’s sister, Saara Punjani, the company’s chief operating officer, said the use of cryoSPARC in efforts to battle the coronavirus is an exciting development.

“Part of the reason we got into it is, at the end of the day, because we are looking to make a difference,” she told U of T News.

Roll Technologies

(photo couretsy of Roll Technologies)

Founded by U of T Scarborough alumnus Richard Cao, e-scooter startup Roll Technologies recently deployed 200 e-scooters and 50 electronic bikes (e-bikes) in Kelowna, B.C. after securing a deal with the city.

Cao’s father works in the e-bike and e-scooter manufacturing sector in China. That helped Cao formulate the idea behind Roll Technologies and develop some of the necessary connections. He then went to The Hub, U of T Scarborough’s startup accelerator, and worked with Director Gray Graffam, who set about differentiating Cao’s company from others in the burgeoning e-mobility space.

Originally from Shanghai, Cao described e-scooters as “a popular and effective form of shared mobility – and one that provides a green solution to a common urban transportation problem.”

BenchSci

(photo courtesy of BenchSci)

BenchSci, which uses machine learning to help scientists find the appropriate antibodies for their experiments, is backed by investors including Google’s Gradient Ventures, and counts some of the world’s top pharmaceutical companies among its clients.

The company grew out of frustrations experienced by Tom Leung, who, while working on his PhD in epigenetics, had experiments fail because his antibodies weren’t detecting target proteins. In search of a better solution, Leung reached out to David Chen, who was doing doctoral research in neuroscience, and Elvis Wianda, who was doing his PhD in medical biophysics.

The trio initially worked with U of T’s Entrepreneurship Hatchery and Health Innovation Hub (H2i) to get BenchSci up and running. They were later recruited to the Creative Destruction Lab by then-MBA candidate Liran Belenzon, who eventually joined the company as CEO.

Going forward, Belenzon says he envisions BenchSci “playing a crucial role in transforming scientists into ‘super-scientists’ and helping them get cures to patients faster.”

Ecopackers

(photo courtesy of Ecopackers)

Conceived by CEO Nuha Siddiqui during her time as president of the U of T chapter of the social entrepreneurship club Enactus, Ecopackers is on a mission to reduce the world’s reliance on single-use plastics.

The company, developed with support from the Creative Destruction Lab, got its start manufacturing biodegradable packing peanuts made from agricultural byproducts. It has since expanded into producing eco-resins that can be used by manufacturers in place of plastic.

Unlike many existing bioplastics, Ecopackers’ resin is designed to be compatible with existing manufacturing technologies and processes.

“We were one of the only eco-focused companies out there that wasn’t going against the plastic manufacturers – we were actually trying to work with them to develop products that worked with their technology,” Siddiqui, a Rotman Commerce graduate, told U of T News.

The all-woman leadership team behind Ecopackers – which also includes chief technology officer Chang Dong and chief operating officer Kritika Tyagi – is now working on pilot products with manufacturers around the world.

Cohesys

(photo by Erin Vollick)

Spun out of research by Professor Paul Santerre at the Faculty of Dentistry and the Institute of Biomaterials and Biomedical Engineering (IBBME), Cohesys is a biomedical startup that has developed a better alternative to the rigid metal plates and screws used to repair facial fractures.

The company’s BoneTape is a flexible, adhesive and degradable material that holds promise in improving surgery times, reducing complications and boosting outcomes for patients who undergo facial surgery.

Supported by UTEST and the Health Innovation Hub (H2i), Cohesys raised a total of $1.4 million in funding as it looks to pursue preclinical animal studies, biotechnology industry magazine BioWorld reported.

“This is the only adhesive that sticks to wet bone,” Michael Floros, CEO of Cohesys and a recent IBBME post-doctoral researcher, told U of T News last year. “There is no other tape for bones or anything similar out there.”

Reeddi

(photo courtesy of Olugbenga Olubanjo)

As an international graduate student at U of T, Olugbenga Olubanjo regularly spoke with family and friends in his native Nigeria over the phone, only to have the calls cut short due to power outages back home. He decided to do something about it – and Reeddi was born.

The company, which was nurtured by the Entrepreneurship Hatchery, provides portable energy via capsules that can be charged at solar-powered stations. Customers rent the capsules at affordable prices and earn credits when they return them on time.

Reeddi wants to bring clean and affordable energy to communities in Nigeria and beyond, with Olubanjo saying the startup has attracted interest from organizations and communities in countries like South Africa, Indonesia, India and the United States.

“Anywhere where there’s an energy or electricity issue is where we come into play. We want to be in as many countries as possible,” Olubanjo told U of T News.

AmacaThera

(photo by Roberta Baker)

A gel-based drug delivery system developed by U of T startup AmacaThera could eliminate the need to prescribe powerful painkillers after surgery – and reduce the risk of developing opioid addiction.

Developed in the lab of University Professor Molly Shoichet, in the department of chemical engineering and applied chemistry and IBBME, the gel is capable of significantly increasing the duration of anesthetics injected at the site of surgical incisions.

Whereas drugs delivered through conventional injections disperse in a matter of hours, AmacaThera’s solution is capable of keeping the anesthetic at the surgical site for up to three days.

“If this could obviate the need for people to take opioids in the first place, it would have a real societal benefit,” Shoichet told U of T News early last year.

AmacaThera is the third startup built on research from Shoichet’s lab. It received support from UTEST and the Creative Destruction Lab.

Honeybee Hub

Finding suitable participants for research studies can be an arduous and time-consuming process – something Honeybee Hub is looking to change.

Co-founded by CEO Catherine Chan (left) while she was pursuing her master’s degree in nutritional sciences, Honeybee Hub’s solution is an online platform that helps researchers find subjects for their studies and makes it easier for the public to find studies to participate in.

Chan got the idea while working on her master’s thesis and was encouraged to pursue it by her supervisor, Harvey Anderson, a professor in the departments of physiology and nutritional sciences in the Faculty of Medicine.

She then partnered with co-founder Weiwei Li, who earned a master’s degree in applied science, with the company receiving mentorship and support from the Impact Centre.

“Researchers are spending too much time on advertising and administrative tasks rather than their expertise, and we want to change that,” Chan told U of T News.

Nanology Labs

(photo by Steve Southon)

Nanology Labs is a pharmaceutical startup that has developed a low-toxicity MRI contrast agent that can improve cancer detection.

Launched by Mohammad Ali Amini while he completed his PhD, Nanology Labs leverages over two decades of research in the lab of Amini's supervisor, Professor Xiao Yu (Shirley) Wu in the Leslie Dan Faculty of Pharmacy.

The company’s innovative MRI contrast agent, called Manganescan, uses the element manganese, which naturally exists in the human body and is safer and less toxic than contrast agents made from gadolinium.

Built with support from numerous U of T accelerators including the Health Innovation Hub (H2i), UTEST and the Impact Centre, Nanology Labs has won several awards including the $25,000 top prize at the 2019 RBC Prize for Innovation and Entrepreneurship at the True Blue Expo.

“If you want to be successful, create your own path,” Amini told U of T News last year. “This is what I’ve learned.”

Niu Body

(photo by Roberta Baker)

Co-founded by chemical engineering alumna Laura Burget, Niu Body creates skin-care products that are all-natural yet affordable.

Burget was inspired to start the company after taking a course on entrepreneurship and small business in her fourth year. She teamed up with Connie Lo, who has a background in business and accounting, and launched the company with an initial budget of only $4,000.

In just two years, the number of retailers carrying Niu Body’s products swelled from one to over 300.

“Consumers are demanding better quality, more natural ingredients and at an affordable price,” Burget told U of T News in September. “Our company’s mission is to create natural skin-care products that won’t break the bank.”

Burget credited her U of T engineering degree with her credibility in the business world.

“When I tell manufacturers and investors I have a chemical engineering degree, it tells them I know what I’m talking about and what I’m capable of.”

U of T Entrepreneurship Week: By the numbers

rahul.kalvapalle — Thu, 05 Mar 2020 18:49:58 +0000

U of T Entrepreneurship Week: By the numbers

rahul.kalvapalle Thu, 03/05/2020 - 13:49

Cutline

The True Blue Expo, one of the most anticipated events during U of T's Entrepreneurship Week, will feature more than 60 startups (photo by Nick Iwanyshyn)

Topic

The University of Toronto is gearing up for its fourth annual Entrepreneurship Week, a celebration of U of T entrepreneurs and their startups.

Running from March 9 to 13, Entrepreneurship Week features an array of events hosted by U of T’s campus-linked startup incubators and accelerators, as well as other programming by U of T and its government and non-profit partners. There are startup showcases, pitch competitions, keynote talks, workshops, networking events and more.

Among the most highly anticipated events are the True Blue Expo, which will see dozens of startups showcase their innovations at the MaRS Discovery District; the 2020 RBC Prize for Innovation and Entrepreneurship pitch competition, which offers $50,000 in prizes; and the RBC Innovation and Entrepreneurship Speaker Series, featuring entrepreneur, venture capitalist and Dragon’s Den judge Michele Romanow.

Here’s a rundown of some key numbers ahead of Entrepreneurship Week:

#1 RANKED U of T's ranking in research-based startups among Canadian universities

20 EVENTS Events making up Entrepreneurship Week

500 STARTUPS Startups created by entrepreneurs at U of T over the past decade

$1.5 BILLION Investment raised by startups at U of T over the past decade

1 – U of T’s rank in research-based startups among Canadian universities

10 – Startups vying for the RBC Prize for Innovation and Entrepreneurship

20 – Events making up Entrepreneurship Week

60 – Startups participating in the True Blue Expo

300 - Entrepreneurship-related courses offered at U of T

500 – Startups created by U of T entrepreneurs over the past decade

$1,000 – Prize money for the winner of the Startup Slam organized by the Impact Centre

15,000 – Size in square feet of ONRamp, U of T’s collaboration and co-working space for startups

$20,000 – Total prizes at Pitch With a Twist organized by ICUBE at U of T Mississauga

$50,000 – Total prizes at the RBC Prize for Innovation and Entrepreneurship pitch competition

$1.5 billion – Investment raised by U of T startups over the past decade

True Blue Expo

U of T Entrepreneurship Week 2023: Top 10 startups to watch

Arma Biosciences

Erthos

TransCrypts

Waabi

WooYourBoo

OTI Lumionics

Flash Forest

Signal 1

Mounib Real Food Only

HippoCamera

Learn more about U of Entrepreneurship Week

U of T Entrepreneurship Week: 10 startups to watch

Structura Biotechnology

Roll Technologies

BenchSci

Ecopackers

Cohesys

Reeddi

AmacaThera

Honeybee Hub

Nanology Labs

Niu Body

Read more about entrepreneurship at U of T

U of T Entrepreneurship Week: By the numbers

Read more about entrepreneurship at U of T