MaRS Innovation appoints president and CEO - University of Toronto -- News@UofT - 0 views
www.news.utoronto.ca/...oints-president-and-ceo-1.html
MaRS Innovation Toronto Discovery District Rafi Hofstein Tim McTiernan The Innovations Group
shared by Assunta Krehl on 15 Jun 09
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MaRS Innovation appoints president and CEO
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A research commercialization leader from Israel, Dr. Raphael Hofstein, has been named president and CEO of the new MaRS Innovation initiative.
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MI was created as a single, market-facing commercialization storefront for Toronto's university and health research institutions. Located in the MaRS Discovery District complex, with business development and administrative support from MaRS, MI will advance commercialization through industry partnerships, licensing and company creation. MaRS Innovation (MI) was founded in 2008 with $14.95 million in funding from the Government of Canada's Centres of Excellence for Commercialization and Research (CECR) Programme, matched by $10 million from the research partners. The MI partnership includes U of T, the 10 partner hospitals and health research institutes affiliated with the university, Ryerson University, the Ontario College of Art & Design, BioDisocovery Toronto, the Ontario Institute for Cancer Research and MaRS. Hofstein joins MaRS Innovation from his previous position as president and CEO of Hadasit Ltd., the technology transfer company of the Hadassah Medical Organization in Jerusalem.
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"MaRS Innovation is a unique global initiative, and I must commend the institutional leaders in Toronto for pulling this innovation powerhouse together to strengthen commercialization output. In my experience, good science is the single most important ingredient for success in this business. Toronto is already known as one of the strongest science cities in the world, and it continues to grow. Leading MaRS Innovation is a wonderful opportunity to do something remarkable."
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Dr. Tim McTiernan, assistant vice-president (research) and executive director of The Innovations Group (TIG), U of T's research commercialization operation, said Mars Innovation will provide significant benefits to U of T.
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And he said that MI's role as a resource "is like putting a turbo charger on an engine. Having MI working with us and the other member organizations is a huge step in taking advantage of the enormous potential in the Toronto research community. Commercialization offices acting independently will not be able to manage in nearly as effective a manner as will be possible with the expertise of MaRS Innovation."