茄子直播

Approximately 40 startup companies from 茄子直播's Impact Centre took part in the event (photo courtesy the Impact Centre)

茄子直播's clean tech innovators meet industry, funders

Imagine you鈥檙e a brilliant University of Toronto graduate with a great technological fix to the world鈥檚 environmental problems. And you鈥檝e got all you need to succeed.

Scientific smarts? Check. Educational pedigree? Yes. An office full of hardworking employees and passionate co-founders? Definitely.

Funding and industry connections? Well, not so fast.

To help entrepreneurs in Toronto鈥檚 burgeoning clean technology sector succeed in making potential business connections, the 茄子直播 Impact Centre recently teamed up with Sustainable Development Technology Canada (SDTC) for its first ever industry challenge.

Dubbed the Virtual Incubator, the event featured some of Canada鈥檚 largest companies explaining their current obstacles to aspiring 茄子直播 technology entrepreneurs. A few months from now, the industry veterans and technopreneurs will reassemble to discuss potential solutions. 

鈥淭his is a godsend for us,鈥 said Mehdi Ravandi, a 茄子直播 engineering grad and serial entrepreneur who attended the gathering.

Located at 茄子直播's Banting & Best Centre for Innovation and Entrepreneurship, the Impact Centre at 茄子直播 is an ecosystem of students, entrepreneurs, and businesses that transforms world-leading university research into innovative products and start-ups. (.) Founded by the federal government in 2001, SDTC is a non-profit foundation that aims to build a sustainable development technology infrastructure in Canada.

Virtual Incubator brought together: entrepreneurs; representatives from General Electric, Enbridge and the Canadian Electricity Association; and government funders such as the Natural Sciences and Engineering Research Council of Canada.

As Ravandi explains, a lot of entrepreneurs with a scientific or technical background may not have the business connections to help their start-ups discover funding opportunities and expand.

鈥淭his event is a good way to bridge that gap,鈥 he says. And he should know. Ravandi is now on his fourth start-up company, called Wheelspan, which is in the early stages of developing hybrid-electric vehicles.

Wheelspan was one of approximately 40 startups based in the 茄子直播鈥檚 Impact Centre to participate in the event.

"We are thrilled to partner with SDTC鈥檚 Virtual Incubator on this unique event aimed at seeding collaboration between industry, academics and entrepreneurs,鈥 said Richard McAloney, director of Technology Management, Impact Centre.

Creating green and sustainable technologies that meet the needs of the market and society is incredibly difficult, explained McAloney.

鈥淭he Impact Centre is working to develop this new event format into a platform for developing solutions to other grand challenges in the future."

John Adams, director, Stakeholder Relationships with the SDTC, was pleased by the event鈥檚 participants. He pointed out that it鈥檚 always good for industry partners to know what innovative technology is being developed by university researchers. The SDTC has more than $1 billion in government funds and was recently recapitalized under the Federal 2013 budget for $325M.

Devin McCarthy, director of Transmission and Distribution at the Canadian Electricity Association, agreed that established industries must be kept aware of what is in the innovation pipeline, but stressed that for full value, ideas must flow in both directions.

鈥淐anada鈥檚 electricity sector is experiencing a period of change not seen in 50 to 60 years,鈥 said McCarthy. 鈥淭oday鈥檚 grid planners and operators must communicate anticipated technological needs as well as a commitment to trying new approaches in order to focus Canada鈥檚 brightest minds on solving electricity-related issues. This forum was an excellent opportunity to move the conversation forward on both of these fronts.鈥

SDTC鈥檚 industry-focused Virtual Incubator works with its key partners to develop Canadian clean-technology entrepreneurs providing company introductions and guidance on business and project plans, with a goal of developing high-quality demonstration projects under the SD Tech Fund and ultimately the commercialization of the technology. 茄子直播鈥檚 Impact Centre is exactly the place to find those entrepreneurs, said Adams.

Rocco Vita, Enbridge鈥檚 director of Alternative and Emerging Technology, was impressed by the energy and passion of the entrepreneurs at the event. And he鈥檚 well aware of the challenges they鈥檒l face as they strive to commercialize their research. One of the biggest challenges for techno entrepreneurs is 鈥渕aking the right contacts and getting the right audience for their ideas,鈥 said Vita.

Bradley Smith agreed. As vice-president of Regional Programs with General Electric, he appreciated the passion of the attendees.

鈥淎 start-up is a labor of love,鈥 he said. 鈥淚t鈥檚 taking something that鈥檚 a concept and turning it into something concrete. It鈥檚 infectious and encouraging.鈥

Dominic Ali is a writer with University Relations at 茄子直播.

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