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This is one of many new commercilization ventures that will be initiated by MaRS Innovation, our partner in commercialization of research with 13 other academic institutions across the Greater Toronto Area,” said Paul Young, U of T’s Vice-President, Research. “We at U of T are delighted that this innovation from Dr. Lee will be taken to the marketplace to the benefit of society and the economy of Ontario and Canada.” 

With the launch of this second commercial opportunity, MaRS Innovation will continue to aggregate the exceptional science of its institutional members by being a one-stop commercialization centre for industry, entrepreneurs and investors. MaRS Innovation is expediting the transformation of the Toronto-based research into a powerful commercialization engine. 

“MaRS Innovation is deeply committed to facilitating strategic research collaborations with industry partners, strengthening the innovation capacity of Canadian industry through adoption of new technologies, and launching a new generation of robust, high-growth Canadian companies that will become global market leaders,” added Dr. Hofstein. “We look forward to working closely with all of our institutional members and to continue to jointly announce exciting commercial opportunities.”

MaRS Innovation is dedicated to bringing brilliant discoveries to market by converting the outstanding science of its member institutions into outstanding economic results for Canada and the world.

Today, teams of McEwen Investigators are committed to finding a way to recreate the complex metabolic functions of the human pancreas. By harnessing the power of stem cells to repair, regenerate or replace diseased cells, tissues and organs, they are able to challenge conventional approaches to treatment, and bring new hope to the more than 170 million diabetes sufferers worldwide.

A key strategic focus of the SickKids Research Institute is the commercialization of research findings-translating discoveries into new technologies and treatments to improve the understanding and treatment of diseases that affect children.

"An environment like the Discovery District allows research institutes and the University of Toronto and its affiliated hospitals to work together to promote research and its application," she explains.

One of the unique aspects of Toronto is its open, collaborative environment. Individual institutes are not fighting each other for funding resources. This collaborative nature is what people comment on when they come here." A Toronto location provides other advantages too, she says. "There is a strong university and college environment, which provides a great pool from which to draw talent. There is strong support from all three levels of government. And there is strong philanthropic support, which is important." Dr. Rossant says working for the Hospital for Sick Children has been very gratifying.

Dr. Rossant is also looking forward to the opening of the new research and education building going up in the Discovery District. "The Research Institute currently has 2,000 people spread across the Discovery District and the new building will bring us all together and allow us to interact in new ways."

But here is the good news. Myers also cited a whole listfull of business opportunities created by the current downturn. Not every company is in a position to seize these opportunities, but those who can should definitely be looking at this list as a recipe for action.Opportunities in the Current Recession:· For companies with cash and investment strength· Replace competitors (who falter or struggle in this economy)· Acquisitions· Respond to new and emerging customer demand· New product and market development· Infrastructure and Innovation (including the smart grid, green energy, health care, logistics and security, and energy – all areas where Canadian companies have some advantages)· Product specialization, services, new processes, new skills

"The Commission has hit the bull's eye with its recommendations", says Skymeter CEO Kamal Hassan. "Recognizing and recommending sensible policy using reliable and cost-effective technology addresses the three evils plaguing surface transportation: under-funding, CO(2) emissions, and traffic jams." Hassan says that by opting for a sensibly-designed GPS-driven user fee system America's total CO(2) emissions will be reduced by 5% or 350 million metric tonnes, the same reduction as if one out of every four cars on the road were replaced by electric cars. It will also make the average commute around 10% faster. "Those are pretty good side effects for a system that returns the nation's road financing system to health" says Hassan.

Skymeter Corporation is a Toronto, Canada-based data services operator that enables location-based payments using financial-grade GPS telematics. Its billing-delivery services include Vehicle Miles Traveled (VMT) metering for road use, parking and PAYD insurance. These services incorporate methodologies for both privacy and anonymity to ensure motorists enjoy complete privacy while traveling and absolute confidentiality of their trips. Skymeter is equivalent to an anonymous, in-car cell-phone that automatically pays for all transport services based on actual usage. Skymeter enables every form of road-use charging from small city areas such as London and Stockholm's cordon charges up to metering every vehicle in a state, province or country in order to replace fuel taxes.

But this year the money has stopped flowing after investment losses reached $1.5-billion for 2008 and the university was forced to cancel a planned $62-million endowment payout, representing about 5 per cent of its operating budget.

Canada's most innovative investment funds is in question by the university that is bearing the brunt of its losses.

Settling into a boardroom chair in the restored heritage building of Toronto's MaRS research centre, Mr. Moriarty remains unshaken by the crisis. He stands committed to UTAM's sophisticated investing approach, reciting phrases like "portable alpha" and "risk budgets" to explain portfolio decisions.

With support from the Mississauga Technology Business Accelerator (MTBA) he started his business, which grew to occupy some state-of-the-art labs at MaRS and is about to take the next step forward by moving its business outside of the protecting and nurturing environment of MaRS. This is the entire purpose of MaRS, which says on its website (www.marsdd.com), "We measure our success through the companies that emerge after receiving help from MaRS." "The resources, the facilities, the training and everything else that MaRS is bringing to the table - we're able to capitalize on that and get off on a very solid footing," says Kamal. Inside the Incubato

Whether you're looking for work - or you want to start your own business, MaRS is one of the best places to start your search.

Everybody you talk to in the elevator, the hall, the cafeteria - they are all in the science field - so you can network with one another," says Ratheesh. "MaRS does not just provide research space, they are bringing business people, people with money." These are the connections that can turn your idea into a profit-making business that employs many people. This is exactly what MaRS is all about. As they say on their website, "MaRS connects the communities of science, business and capital and fosters collaboration among them." MaRS advisors are able to connect entrepreneurs with private funding opportunities as well as free educational programming and hands-on advisory services. Corporate sponsor CIBC funds an entrepreneurship lecture series, for example. Ratheesh adds, "Patent people are here as well, so if you have patentable technology, you can talk to them." Once you start your business, MaRS offers many supports. "When we had the lab space we had the chemical hood that had to be set up so MaRS came and provided people to set up our hood," explains Ratheesh. "They help us dispose of chemical waste, provide water service, fridge and freezer service - so these are all important. "For smaller companies that have problem buying fridges and freezers, they can use common equipment." MaRS facilities also include lecture theatres, meeting rooms and an auditorium. Growing Cultures Bacteria and tissue cultures aren't the only cultures that thrive in the MaRS environment. It's also a great place for newcomers from every culture to

Clera, one of many emerging companies housed in the MaRS incubator.

He says, "MaRS is a one-stop shop for job and information seekers. Here we have many companies - so quite a few job opportunities