This week’s forum marked the organization’s first foray into the cleantech sector, said MaRS Venture Group Associate Kevin Downing. Downing said he wanted to connect cleantech-related companies in the MaRS portfolio that were “investment ready” with the forum’s audience.
“I don’t have a motive to push any one client over any other because they’re not paying me,” Downing said.
Of the 1,300 MaRS portfolio companies, he said the cleantech sector has been its fastest growing segment and an expanding sector in country as well (see Canadian cleantech looks to the future and IPO drought? Cleantech companies flood Canadian markets). Since 2006, cleantech and environmental technology companies have made up 9 percent of MaRS' portfolio.
MaRS currently has 350 active clients. The center isn’t government funded, but does receive some government support, he said. It has been funded through donations from the public and private sector, as well as revenue from its mixed-use facility. MaRS has the ability to provide some funding, around $40,000, to startups on a competitive basis.
Other companies showcased at the forum through MaRS included NIMtech, Real Tech, Vicicog and Skymeter.
Assunta Krehl on 26 May 10Profound Medical Inc, a MaRS client hopes to improve quality of life for men with prostate cancer by developing a faster, more precise treatment aimed at reducing side effects. Profound Medical won the $200,000 Premier's Catalyst Award for a start-up company with the best innovation. Avenir Medical Inc, a MaRS Client was named Ontario's Next Top Entrepreneur at the conference of the Ontario Centres of Excellence.
