MaRS Innovation’s Commercialization Model is Unique
MaRS Innovation collaborates with its 16 Toronto-based member institutions and their technology transfer offices to commercialize market-disruptive intellectual property.
Our team‘s technology assessment process is backed by solid market analyses, technical knowledge and business acumen across the life sciences, physical sciences and ICT.
We have the technical and business development intelligence to support inventors as they create companies or broker licensing deals to bring their technology to market.
Through our embedded management process, MI project managers lead deal or spin-off company teams until the founders have the necessary momentum to hire permanent staff.
We also provide the market and business development intelligence to prime early-stage technologies for potential investors.
MI was federally funded and incorporated in 2008 as a non-profit Centre of Excellence for Commercialization and Research (CECR).
Our mandate includes seeking opportunities to increase the social, health and economic benefits of our activities to Canadians and others around the world.
Bundling technologies to increase market potential
Where it makes scientific and business sense to do so, MaRS Innovation bundles compatible technologies together. This practice may occur with several disclosures made by one inventor or with a group of disclosures made by inventors across our member institutions.
In doing do, MI creates a bigger, more viable prospect with greater marketability for investors (e.g., in imaging technologies).
Monetizing our members’ physical assets
Mars Innovation also creates new value by monetizing our member institutions’ physical property.
For example, through this practice MI filled the excess capacity of the new Toronto Centre of Phenogenomics, which is jointly owned by four MI members:
- The Hospital for Sick Children
- Mount Sinai Hospital
- St. Michael’s Hospital
- University Health Network
Through our industry relationships and expertise, MI sold the centre’s excess capacity to companies like Novartis with whom the centre’s interests closely align.
MI also provided similar services to help create and launch Clinical Trials Ontario which now has over 600 trials in progress. Dr. Raphael Hofstein, MI’s president and CEO, serves on the organization’s board.
By monetizing physical assets, MI provides another service to our members, generates new revenues, and reinforces our role in bringing together buyers and sellers of many different kinds.
Returning financial rewards
MaRS Innovation’s activities deliver monetary benefit back to our member institutions.
Typically, deals or shareholder agreements are structured to divide the returns or a transaction or company exit according to preset percentages among:
- the inventor or inventing team
- the member institution
- MaRS Innovation