麻豆视频 Entrepreneurship Week: 10 startups to watch
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, 麻豆视频 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鈥檚 ranked first in Canada and among the top 10 in the world.
With Entrepreneurship Week underway, here鈥檚 a look at 10 exciting 麻豆视频 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 麻豆视频 startup Structura Biotechnology.
Structura鈥檚 cryoSPARC program, which uses artificial intelligence to create 3D visualizations of protein, was spun out of Ali Punjani鈥檚 PhD research in computer science at 麻豆视频 and was designed by alumnus Suhail Dawood. The startup received support from 麻豆视频鈥檚 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鈥檚 sister, Saara Punjani, the company鈥檚 chief operating officer, said the use of cryoSPARC in efforts to battle the coronavirus is an exciting development.
鈥淧art of the reason we got into it is, at the end of the day, because we are looking to make a difference,鈥 she told 麻豆视频 News.
Roll Technologies
(photo couretsy of Roll Technologies)
Founded by 麻豆视频 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鈥檚 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, 麻豆视频 Scarborough鈥檚 startup accelerator, and worked with Director Gray Graffam, who set about differentiating Cao鈥檚 company from others in the burgeoning e-mobility space.
Originally from Shanghai, Cao described e-scooters as 鈥渁 popular and effective form of shared mobility 鈥 and one that provides a green solution to a common urban transportation problem.鈥
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鈥檚 Gradient Ventures, and counts some of the world鈥檚 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鈥檛 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 麻豆视频鈥檚 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 鈥減laying a crucial role in transforming scientists into 鈥榮uper-scientists鈥 and helping them get cures to patients faster.鈥
Ecopackers
(photo courtesy of Ecopackers)
Conceived by CEO Nuha Siddiqui during her time as president of the 麻豆视频 chapter of the social entrepreneurship club Enactus, Ecopackers is on a mission to reduce the world鈥檚 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鈥 resin is designed to be compatible with existing manufacturing technologies and processes.
鈥淲e were one of the only eco-focused companies out there that wasn鈥檛 going against the plastic manufacturers 鈥 we were actually trying to work with them to develop products that worked with their technology,鈥 Siddiqui, a Rotman Commerce graduate, told 麻豆视频 News.
The all-woman leadership team behind Ecopackers 鈥 which also includes chief technology officer Chang Dong and chief operating officer Kritika Tyagi 鈥 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鈥檚 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 .
鈥淭his is the only adhesive that sticks to wet bone,鈥 Michael Floros, CEO of Cohesys and a recent IBBME post-doctoral researcher, told 麻豆视频 News last year. 鈥淭here is no other tape for bones or anything similar out there.鈥
Reeddi
(photo courtesy of Olugbenga Olubanjo)
As an international graduate student at 麻豆视频, 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 鈥 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.
鈥淎nywhere where there鈥檚 an energy or electricity issue is where we come into play. We want to be in as many countries as possible,鈥 Olubanjo told 麻豆视频 News.
AmacaThera
(photo by Roberta Baker)
A gel-based drug delivery system developed by 麻豆视频 startup AmacaThera could eliminate the need to prescribe powerful painkillers after surgery 鈥 and reduce the risk of developing opioid addiction.
Developed in the lab of 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鈥檚 solution is capable of keeping the anesthetic at the surgical site for up to three days.
鈥淚f this could obviate the need for people to take opioids in the first place, it would have a real societal benefit,鈥 Shoichet told 麻豆视频 News early last year.
AmacaThera is the third startup built on research from Shoichet鈥檚 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 鈥 something Honeybee Hub is looking to change.
Co-founded by CEO Catherine Chan (left) while she was pursuing her master鈥檚 degree in nutritional sciences, Honeybee Hub鈥檚 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鈥檚 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鈥檚 degree in applied science, with the company receiving mentorship and support from the Impact Centre.
鈥淩esearchers are spending too much time on advertising and administrative tasks rather than their expertise, and we want to change that,鈥 Chan told 麻豆视频 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鈥檚 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 麻豆视频 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.
鈥淚f you want to be successful, create your own path,鈥 Amini told 麻豆视频 News last year. 鈥淭his is what I鈥檝e learned.鈥
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鈥檚 products swelled from one to over 300.
鈥淐onsumers are demanding better quality, more natural ingredients and at an affordable price,鈥 Burget told 麻豆视频 News in September. 鈥淥ur company鈥檚 mission is to create natural skin-care products that won鈥檛 break the bank.鈥
Burget credited her 麻豆视频 engineering degree with her credibility in the business world.
鈥淲hen I tell manufacturers and investors I have a chemical engineering degree, it tells them I know what I鈥檓 talking about and what I鈥檓 capable of.鈥