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Assunta Krehl

247 honourees and counting - Financial Post - October 22, 2011 - 0 views

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    The 30th anniversary gala for the Ernest C. Manning Awards Foundation took place in Edmonton. This award recognizes Canadians with the imagination to innovate and the stamina to succeed. Don Duval, Vice President of Advisory Services from MaRS Discovery District Toronto was one of the guests that attended the event.
Assunta Krehl

Ernst & Young names Dani Reiss of Canada Goose Inc. the 2011 Ontario Entrepreneur Of The Year - Canada Newswire - November 3, 2011 - 0 views

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    Dani Reiss, President and Chief Executive Officer of Canada Goose Inc. is this year's Ontario Ernst & Young Entrepreneur Of The Year® winner.  Dr. Ilse Treurnicht, Chief Executive Officer, MaRS Discovery District is on the panel of judges.
Miguel Amante

Order of Canada welcomes former UWindsor president and alumna - University of Windsor Daily News - July 6, 2010 - 0 views

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    UWindsor alumna and MaRS Innovation chair Mary Jo Haddad (BScN 1984) were among 74 new appointees to the Order of Canada; they will accept their insignia at a formal induction ceremony later.
Assunta Krehl

Test-tube industry - Canadian Business - 0 views

  • For Dr. John Evans, growing a strong biotechnology industry is much the same: cities must provide a nurturing environment where science and business can thrive together.
  • That's why Evans, former president of the University of Toronto and current chairman of Torstar Corp., is spearheading the $345-million Medical and Related Science initiative, or MaRS--a petri dish of sorts for commercializing science research. "A lot of intellectual property is being commercialized outside Canada," says Evans. "I think we've been slow in realizing just how important technology developments are to the economic future of the country. MaRS is an attempt to give this a kick into a higher gear." The centrepiece of the MaRS plan, which will officially launch May 12, is a 1.3-million-square-foot, five-building complex in downtown Toronto that will provide office and lab space for small and medium-size companies and incubators, including the not-for-profit Toronto Biotechnology Commercialization Centre. While Evans is reluctant to limit its scope, MaRS will generally focus on health-related technologies, from new drugs and genetic treatments to medical devices and imaging software. Branded a "convergence centre," it will also house a careful mix of support services: intellectual property lawyers, accountants, marketing experts, government funding organizations and venture capital financiers. Plus, start-ups will have access to all the latest equipment on site. For instance, MaRS is in talks with MDS Sciex to supply mass spectrometers, used in proteomics research.
  • But MaRS will be more than just a New Economy real estate development. Evans's intention is to funnel tenants' rent money into services--such as entrepreneurship seminars and angel-matching programs--that MaRS will offer to the broader biotech community. That's why MaRS's location is key: the centre will be built in the heart of what Toronto has dubbed the "Discovery District," a two-square-kilometre chunk of the downtown core, encompassing U of T and four major hospitals. From there, MaRS hopes to act as a network hub across Ontario, with links to research-intensive universities. "None of them," says Evans, "have the critical mass to put it all together on their own."
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  • MaRS's primary goal is to get Toronto and the rest of Ontario on the global biotech map. Evans came up with the concept in the late 1990s with Dr. Calvin Stiller, CEO of the labor-sponsored Canadian Medical Discoveries Fund, and Kenneth Knox, a former deputy minister for the Ontario government who's now CEO of MaRS
  • As far as schemes to support fledgling industries go, MaRS is refreshing. To start, it's a nonprofit corporation, not a government program, which will hopefully ensure that it runs more efficiently. The feds and the province of Ontario have each doled out $20 million for MaRS, and Toronto has donated in-kind $4.5 million. More than $12 million has come from a small pool of corporations, including Eli Lilly Canada and MDS, as well as individual donors like Joseph Rotman and Lawrence Bloomberg (who both sit on the MaRS board). U of T pitched in $5 million, and MaRS also did some innovative bond financing to round off the $165 million needed to build Phase I. "It was very important for us to not belong to anybody," says Evans.
  • Now MaRS's challenge is to get the word out. Its posted rate of $26 per square foot is very competitive for prime downtown real estate and is sure to attract attention, especially considering its customized lab space. But MaRS's success won't be measured by a low vacancy rate; getting the right mix of scientists, entrepreneurs and professionals is critical if it plans to commercialize some sustainable businesses. It won't happen overnight--in fact, it may be 10 years before anyone can gauge MaRS's impact. Seems growing a biotech industry isn't quite as easy as growing E. coli in a petri dish.
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    John Evans spearheads the MaRS project which will help to accelerate commercialization for scientific research. The official launch of the MaRS plan will happen on May 12, 2003.
Assunta Krehl

MaRS Innovation selects umbilical cord stem cell technology from Samuel Lunenfeld Research Institute of Mount Sinai Hospital as its first commercialization opportunity - 0 views

  • MaRS Innovation and the Samuel Lunenfeld Research Institute of Mount Sinai Hospital are pleased to announce that they have entered into an agreement to collaboratively initiate commercialization of an umbilical cord stem cell technology for potential treatment in cardiovascular disease, diabetes and neurological disorders.
  • With the Toronto area identified as a world-leading cluster in stem cell research, we are extremely excited to have identified this technology as our first commercialization opportunity,” said Dr. Rafi Hofstein, President and CEO of MaRS Innovation.
  • MaRS Innovation, along with the inventors and Mount Sinai, will initially focus on the diabetes application for the technology, as research has demonstrated that these cells uniquely secrete insulin in response to glucose, thereby mimicking the “normal” physiological state.
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  • The technology – invented by Mount Sinai scientists Dr. Ian Rogers and Dr. Robert Casper – offers a proprietary method to create multi-potent stem cells (MPSCs) from human umbilical cord blood.
  • With MaRS Innovation's participation, we are optimistic we will succeed."
  • Our partnership with MaRS Innovation on developing methods for using stem cells for diseases such as diabetes will allow us to work towards advancing care for these critical conditions." With the launch of this first exciting opportunity, MaRS Innovation has embarked on a journey to transform the Toronto-based research enterprise into a successful commercialization cluster.
  • MaRS Innovation is building its own internal infrastructure to support intellectual property and market due diligence to identify the most promising commercial opportunities. MaRS Innovation is dedicated to converting the outstanding science of its member institutions into products and services, making a significant contribution to Canada’s future economic outlook and the quality of life for Canadians and others around the world
  • “We are deeply committed to creating a powerful engine for commercialization that brings together an experienced team to identify and validate market opportunities, develop technologies to market requirements and build the linkages that will advance the exceptional research of all of our institutional members,” added Dr. Hofstein. “We look forward to announcing additional technologies to add to our pipeline over the next several weeks.”
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    MaRS Innovation and the Samuel Lunenfeld Research Institute of Mount Sinai Hospital are announce that they have entered into an agreement to collaboratively initiate commercialization of an umbilical cord stem cell technology for potential treatment in cardiovascular disease, diabetes and neurological disorders.
Assunta Krehl

Bootstrapping VC (The Deal Magazine) - 0 views

  • "The size of what Quebec did caught our attention," says CVCA president Gregory Smith from the association's tiny office in Toronto's MaRS Centre, a renovated 1913 hospital now a facility to house tech startups.
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    Bernier is now founder and managing partner of the Teralys Capital Fund, the C$825 million ($730 million) fund-of-funds announced in April by the Quebec government and several partners.
Assunta Krehl

Pharmafocus.com - 0 views

  • Canada has always had to fight hard to attract talent and investment
  • MaRS Vital to Toronto's life sciences vision is MaRS (derived from Medical and Related Sciences) a non-profit organisation and business centre located in the heart of the city. Its core function is as a biotech incubator and business park, known as MaRS Discovery District. The venture was first established in 2000 to help foster and accelerate the growth of successful Canadian businesses and, after some uncertain times, it is now gathering momentum. A separate technology transfer office, MaRS Innovation, has also been established that, it is hoped, can be a world beater in its own right (see Turning good ideas into world beaters below). The location of the MaRS building in central Toronto is important, as it is just a stone's throw away from an existing cluster of universities and academic hospitals. MaRS has many links with other research-based organisations, including collaborations with three local universities, 10 academic teaching hospitals and the Ontario Institute for Cancer Research. MaRS occupies the Old Toronto general hospital, where insulin was first discovered by Best and Banting in 1921 and then developed for use in human trials. The 21st Century organisation can build on this heritage in patient-focused discovery and development. Formerly the head of venture capital firm Primaxis, Ilse Treurnicht is chief executive of MaRS Discovery District. She acknowledges the crisis in venture capital funding, and says Canada's sector has always had less access funds through this route than other countries. This is one of the drivers behind the search for a new approach. Treurnicht says the old models of building biotech and life sciences businesses have to be discarded, as they have failed to build companies with critical mass. She says MaRS' new 'Convergence Innovation' strategy of bringing science, capital and business together will pay off.
  • "We call our strategy 'Convergence Innovation' and what we are trying to do is move away from the old linear model of academics struggling in their spare time to build companies or entrepreneurs doing this in a very incremental way."It takes time and it has many risk points along the way. So using this Convergence centre model to create a much more dynamic organisation which can help accelerate good ideas towards the commercialisation." But she says Canada's geography and demographics are always going to be a challenge. "This is a very large country with a small population. If you think in terms of clusters and hub regions, Canada's business hubs are separated geographically, and there is not much in between in terms of people."That means we can't try to be a little United States, because we just won't show up on the radar. We have to take a different approach. We have to think about collaboration as our potential competitive advantage - that means using networks and associations to solve problems and build businesses."So as new opportunities emerge, we can take them to market faster and hopefully with a higher success rate." The centre currently accommodates numerous start up companies, as well as those providing legal and financial services to them. AstraZeneca and GlaxoSmithKline also have offices on site. In all, MaRS provides mentoring for over 200 different companies across Ontario, and runs courses on entrepreneurship and preparing products for market.
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  • Transition Therapeutics is one of the companies based at MaRS, and is an example of a biopharmaceutical company that is taking a new approach to the science and business of drug development.
  • Now Toronto's MaRS Innovation (MI) has been launched to try to guide and accelerate these promising ideas out of the wilderness and onto the market. MI is a not-for-profit technology transfer company that will channel all the best ideas to come out of Toronto's renowned academic centres. In the Toronto and Ontario area there were between 14-16 different technology transfer offices in the different institutions, and MaRS Innovation resolved to bring these interests together into a single entity after industry partners told them it was an inefficient way to do business. Bringing together the different institutions under one umbrella organisation has been an arduous task for MaRS, but the reward could be considerable for all parties. MI now oversees probably the largest intellectual property pipeline of its kind, representing about $1 billion in annual research spending. This means MI will be a unified route for all of Toronto's academics and their institutions when they want to develop and commercialise a bright idea. Most importantly, investors from industry who are looking to collaborate will now be able to deal with just organisation and one IP process. MI will cover patentable ideas across a broad range of areas, and not just life sciences - the discovery pipeline in physical sciences, information and communication technology, and green technology ('cleantech') will all be funnelled through MI. MI now represents three universities, 10 academic teaching hospitals and the Ontario Institute for Cancer Research. MaRS Innovation, with support from MaRS and BioDiscovery Toronto, will advance commercialisation through industry partnerships, licensing and company creation.
  • ts chief executive is Dr Rafi Hofstein. Hofstein has been headhunted from Israel where he was chief executive of Hadasit, the technology transfer company of the Hadassah Medical Organization in Jerusalem and chair of the publicly-traded company Hadasit BioHolding. He brings this considerable experience in technology transfer to what he thinks is a groundbreaking enterprise."MaRS Innovation is a unique global initiative, and I must commend the institutional leaders in Toronto for pulling this innovation powerhouse together to strengthen commercialisation output." He adds: "I believe this is going to modernise the whole notion of tech transfer." He says the scale and diversity of MaRS Innovation's remit puts it into a league of its own. Other research clusters elsewhere in the world have attempted similar projects before, but have been thwarted by the difficulty in bringing parties together. MaRS Innovation will also help launch and grow new spin-off companies and incubate them for 2-3 years to ensure a strong commercial footing. Hofstein says MI will also fund proof of concept trials which will persuade major pharma companies to invest in their development.
  • MI has just announced its first two commercialisation deals with academic partners in the city. The first is with the Samuel Lunenfeld Research Institute of Mount Sinai Hospital to develop stem cell from umbilical cords to treat cardiovascular disease, diabetes and neurological disorders. "With the Toronto area identified as a world-leading cluster in stem cell research, we are extremely excited to have identified this technology as our first commercialisation opportunity," said Dr Hofstein.
  • "Our partnership with MaRS Innovation on developing methods for using stem cells for diseases such as diabetes will allow us to work towards advancing care for these critical conditions."
  • The second collaboration is between MI and The University of Toronto (U of T) and involves a novel sustained release formulation of nitric oxide (NO) for applications in wound healing, including diabetic ulcers. "There are 300 million diabetics worldwide, of which some 15% develop troublesome foot ulcers. This wound healing technology is extremely exciting, making it an early commercialisation opportunity that MaRS Innovation has identified as being a potential win for some 45 million diabetics globally," said Dr Hofstein.
  • "This is one of many new commercialisation ventures that will be initiated by MaRS Innovation, our partner in commercialisation 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." By aggregating the leading edge science of its institutional members and being a one-stop commercialisation centre for industry, entrepreneurs and investors, MI could really help put Toronto and Canada on the map."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."
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    Canada has always had to fight hard to attract talent and investment. As stated in Pharmafocus.com, "MaRS Discovery District helps to foster and accelerate the growth of successful Canadian businesses." MaRS Innovation has also been launched to accelerate ideas onto the market.
Cathy Bogaart

Flying surveillance robots coming soon from Aeryon | CNET News - 0 views

  • At the AlwaysOn Stanford Summit, Aeryon Labs President Dave Kroetsch gave a compelling pitch on his company, which makes a two-pound robot helicopter that has enough on-board intelligence and stability control to allow it to be flown by people who just point to locations on a Google Map-based interface.
  • sell to private security forces, and eventually police departments
  • other markets include construction (for site surveys), other public safety applications, and of course military.
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    CNet profiles MaRS client, Aeryon's flying robot technology, describing their potential markets. Aeryon presented at the AlwaysOn Stanford Summit last week.
Assunta Krehl

reportonbusiness.com: THE COMPANY: INFONAUT INC.: Charting the right course through an outbreak - 0 views

  • Toronto, where a small firm is using 21st-century software to create maps with similar goals - the containment of disease - by showing infection patterns that can be understood at a glance.
  • Toronto, where a small firm is using 21st-century software to create maps with similar goals - the containment of disease - by showing infection patterns that can be understood at a glance.
  • There's nothing wrong with Infonaut using the H1N1 flu outbreak to gain exposure, as long as the company is careful in the tone it takes, said John Lute, president of Toronto communications firm Lute and Co.
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  • Infonaut Inc. chief executive officer Niall Wallace and his partner, chief operating officer Matt McPherson, both former IT consultants for the Ontario government, created the company after helping to craft some of the recommendations that resulted from the SARS outbreak of 2003. They understood the value of visually represented, real-time infection data, and left government to set up Infonaut to develop that technology.
  • Infonaut has created three software products that turn infection information into maps. All are being tested in pilot projects and will soon be marketed commercially.
  • One, called Infection Watch Live, is now taking data gathered at 14 hospital emergency rooms in eastern Ontario and using it to create publicly accessible maps that show exactly where in the region cases of influenza and gastrointestinal diseases are active.
  • This complex mapping can help monitor and stop the spread of C. difficile and other superbugs.
  • The third product, called Regional Watch Live, generates maps and reports for regional health professionals by merging lab test results with a range of other information.
  • INFONAUT INC
  • Make sure to present straightforward information about how the company's products might help mitigate an outbreak in the future, but do not exaggerate promises. Be upfront about the state of pilot tests, the timelines to get the software to market, and how much funding will be needed to go to full commercialization. Use respected third-party partners to endorse the products, a move that will give the company more credibility. If there are privacy concerns, spell them out and detail how they are being addressed.
  • Infonaut should ensure that its message is understated and that the company is not an "ambulance chaser," Mr. Lute said
  • But the company does need to give straightforward information about how its products might help mitigate an outbreak in the future, and not exaggerate its promises, she said. In particular, it needs to be upfront about the state of its pilot tests and include details of when full versions of its products will be available. It also must explain how much funding they will need to get there, Ms. Wilcox said.
  • With Infonaut, there seems to be no question that there is a public gain, he said. "If it is just an opportunistic attempt to cash in on the misfortune of others, that tends to play badly. Where a company has something that can be tied to the public interest, such as in this case ... it is very low-risk."
  • He suggests that Infonaut make good use of its pilot test partners, such as the counties in eastern Ontario that are testing the Infection Watch Live system.
  • the company should forestall any concerns over privacy issues by spelling out how it ensures data on individuals are kept confidential.
  • There's nothing wrong with using the current concerns over H1N1 flu to gain exposure, as long as Infonaut is careful about taking a calm and respectful tone to its marketing and publicity.
  • On the other hand, it will clearly create an opportunity if Infonaut can increase its profile, "which helps it to get its story out, which helps it to get investors, which helps it to grow.
  • The problem Build a market for a unique infection mapping system without appearing to exploit the flu outbreak The plan: Use a subtle approach and be upfront with the state of development of the software products The payoff: Higher awareness among potential customers and an expanded market
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    Using 21st-century Infonaut is using software to create maps - the containment of disease - by showing infection patterns that can be understood at a glance.
Assunta Krehl

YFile - Symposium examines the path to breakthrough medicines - 0 views

  • Canada has the research expertise to develop drugs and vaccines to address pressing medical needs, but delivering on the promise will require new models of collaboration between scientists, biotechnology, the pharmaceutical industry, business and policy makers according to speakers at an upcoming symposium hosted by The Gairdner Foundation and York University. The symposium, Entrepreneurship & Commercialization in Biomedical Science, on Thursday, May 14, marks the 50th anniversary of both York University and The Gairdner Foundation.
  • The Gairdner Foundation recognizes the world's leading medical research scientists through its prestigious annual awards program for biomedical science. The symposium, which is hosted by York’s Faculty of Science & Engineering and Schulich School of Business, will bring together scientist entrepreneurs, Canadian venture capital firms, the biomedical industry and policy-makers.
  • He will be followed by Smith, founder and former president & CEO of RBC Ventures and a member of the board of Toronto's MaRS innovation centre. Smith will speak about how Canada has made strong progress in positioning itself as a potential leader in biotech and medical research and in its commercialization efforts but faces two clear threats – the global financial calamity together with the lack of clear federal government support for research.
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    The symposium, Entrepreneurship & Commercialization in Biomedical Science, is being held on Thursday, May 14, which marks the 50th anniversary of both York University and The Gairdner Foundation. At this symposiums they will address the problem that Canadian researchers expertise to need to do in developing drugs and vaccines to address pressing medical needs. Mention of Susan Smith as a Board Member of MaRS Innovation.
Assunta Krehl

Go to MaRS - Canadian Newcomers Magazine - 0 views

  • nd development of new ideas. It provides not only office and lab space but also free mentoring assistance to new businesses in science, technology and social innovation. While there are probably no chickens hatching at MaRS, it wouldn't be at all surprising to find a company working on, say, a vaccine for bird flu. Approximately 20 incubator companies are currently housed at MaRS, including Clera Inc. - which is developing treatments for schizophrenia and depression; AXS Biomedical Animations Studio - a company that creates 3D medical animation for biomedical research and other applications; and Kanata Chemical Technologies (KCT), which has had great success developing catalysts for the chemical industry (catalysts speed up chemical reactions without being changed or consumed in those reactions
  • All of the above definitions could apply to the wider innovation community connected with the MaRS Centre. Located in the heart of Toronto's Discovery District - a 2.5 sq. kilometre downtown research district, MaRS is a non-profit environment for the birt
  • KCT founder and president Kamal Abdur-Rashid came to Canada in 1997 with a degree from the University of the West Indies
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  • 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
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    A look at Canadian immigrants who started a business and are incubating at the MaRS Centre. KCT and Clera, MaRS Tenants tell their stories. Jan/Feb 2009
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    A look at Canadian immigrants who started a business and are incubating at the MaRS Centre. KCT and Clera, MaRS Tenants tell their stories.
Cathy Bogaart

Nonclinical IVDs: Growing interest in a growing field - 0 views

  • Manufacturers of human IVD technologies have been contributing their skills and knowledge more and more to the nonclinical and agricultural diagnostic markets.
  • To learn more about why IVD manufacturers are making the switch from human diagnostics and testing to agricultural and other nonclinical diagnostics, IVD Technology editor Richard Park spoke with Rocky Ganske, president and CEO of Axela Inc. (Toronto)
    • Cathy Bogaart
       
      Axela is a MaRS client.
  • Axela sells to the $20-billion life sciences market with its current platform, focusing first on protein-research applications, and enabling and capturing applications for downstream personalized medicine and human diagnostics.
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  • Our technology allows us to work directly in a variety of sample types that are difficult for other technologies to detect pathogens in without some additional sample preparation. So that led to people who were doing BSE (mad cow)–type testing asking if we could do tests for protein directly in matrices like milk or brain homogenate, and people asking for testing in plant extracts and things like that because other technologies don’t have that capacity.
  • Because it’s an attractive market, you see large diagnostic companies like Bayer Animal Health move some of its testing platforms that it would use for diagnostics into animal health testing
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    MaRS Client, Axela, talks about moving from human protein testing into the agricultural markets -- the challenges and the opportunities.
Assunta Krehl

Cleantech Sector World-Class - San Diego Business Journal Online - March 1, 2010 - 0 views

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    Shawn Lesser, author and president and founder of Atlanta-based Sustainable World Capital, identified critical characteristics of successful clean-tech clusters, including a region that has a thriving technology base, abundant entrepreneurial and management talent, access to capital, and a proactive environmental public policy. MaRS is listed as one of the other clean-tech organizations.
Assunta Krehl

Some good news in Canada's investment community, but there's a lot of bad too - Backbone Magazine - September 7, 2011 - 0 views

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    Mark Noonan and Bruce Chin from Deloitte Canada state, "Canadians must be willing to look at a wide set of reform options, and work to open our borders to foreign investment." In addition, John Ruffolo, the senior vice-president of knowledge investment at OMERS, who spoke at the Innovations Across Borders conference in March 2011 at the MaRS Centre states, "There are two types of investment. Straight common shares or very simple preferred shares. Every other complexity will be eliminated. This is focused on the upside, rather than downside protection."
Assunta Krehl

Social Web Monitoring Company Keynotes at CIX 2011 - Mediacaster Magazine - September 6, 2011 - 0 views

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    On December 1st, 2011 at the MaRS Centre, the Canadian Innovation Exchange (CIX) will be having a one-day forum for key leaders in the innovation economy. Marcel Lebrun, Senior Vice President and General Manager of Salesforce Radian6 will be giving a keynote speaker at the event.
Miri Katz

How The Private Sector Can Drive Social Innovation - CIO Central - CIO Network - Forbes - 0 views

  • How The Private Sector Can Drive Social Innovation
  • Out of the 100 largest economies in the world, about half are multinational corporations. Given their impact on global communities, it is becoming increasingly essential that these large corporations execute responsibility to society, rather than rely on governments and non-profits to address difficult social issues alone.
  • oday, the world’s largest companies are in a unique position to play a much greater role in driving social change than ever before.
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  • Aside from pure monetary donations, however, is a new model that is transforming corporate philanthropy.
  • Increasingly, corporations are turning to a shared value model, in which companies work in alignment with society rather than against it, producing mutual benefits to both the community and the corporation
  • It evolves the traditional model of financial and material goods donations, to one in which corporations leverage a range of corporate assets including employee skills, business acumen and partner networks, to drive social change.
  • Here’s the shift: Instead of viewing it as our responsibility to drive business and social value, view it also a valuable opportunity to rethink existing practices.
  • The business case for social innovation
  • there are a variety of benefits for an organization, from brand building, to staff retention, and even improved client stickiness. Shareholders and the investment community are also increasingly considering corporate responsibility when making investment decisions.
  • collaborations can drive innovation through necessity. Non-profits work in extreme environments, faced with limited infrastructure, connectivity and staff. Operating in these situations exposes corporate staff to new sets of customer challenges, which can often deliver innovations in product design or services into the business.
  • by working with a non-profit organization, a corporation can demonstrate its expertise to a new audience, expanding its business network.
  • Increasingly, investors weigh environmental, social and governance  data when making investment decisions. While such data has been a benchmark for European-based companies for some time, we are now seeing a more global adoption and interest in this, which should be another forcing function for more corporations to act as good corporate citizens.
  • Applying social innovation in practic
  • A good starting point is to assess the company’s available skills, expertise, partnerships against the touch-points the company currently has within a given community. From there, establish specific goals to achieve and a strategic plan to meet those goals.
  • Companies that have an expertise in technology, for example, can collaborate with non-profits or social entrepreneurs to provide the infrastructure backbone that turn their ideas into reality. With the social enterprise mPedigree Network, HP leveraged its technology expertise in cloud-based services to design and build an anti-drug counterfeiting service in Africa. Counterfeit medicine is a significant problem in developing countries, causing more than 700,000 deaths each year. The new service helps save lives by enabling patients to validate the integrity of their medicine by sending a free text message.
  • Gabi Zedlmayer is Vice President of Hewlett-Packard’s Office of Global Social Innovation.
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    Out of the 100 largest economies in the world, about half are multinational corporations. Given their impact on global communities, it is increasingly essential that these large corporations execute responsibility to society, rather than rely on governments and non-profits to address difficult social issues alone
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