MaRS Innovation

MaRS Innovation

661 University Avenue, Suite 465, Toronto, M5G 1M1, ON, CA


How do you help academic entrepreneurs get their ideas from the lab bench to the market? MaRS Innovation (MI) is the official commercialization agent for 15 of Toronto's leading research institutions. Technologies disclosed to us span therapeutics, medical devices and diagnostic imaging, information and communications technologies, and advanced manufacturing and clean technologies. MI taps into $1 billion of annual research and development in Toronto’s largest research hub. Located within the MaRS Discovery District building, we are a separate, not-for-profit organization and have an independent mandate, board of directors and staff. MaRS Innovation is supported by the Networks of Centres of Excellence (federal funding body), the Ontario Government and by our members as part of a collective strategy to close the nation’s productivity gap and improve Canada’s economic security. In 2008, the Networks of Centres of Excellence for Commercialization and Research (CECR) awarded us $14.95 million over five years; we extended this funding by another $14.95 million in 2013. Combined with support from our members, industry partners and other in-kind contributions, MaRS Innovation and its companies have secured approximately $75 million in our six years of operations. Creating an organization like MaRS Innovation is completely unprecedented. It demonstrates the readiness of Toronto’s academic, health care and research communities to unleash the benefits of clustering. Their willingness to experiment enables MI to see technologies emerging across our portfolio, combining both like minds and research assets, as we build the strongest possible start-up companies and license opportunities.




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Experts (4)

Judith Blumstock

Judith Blumstock

Senior Director, Corporate Development

Senior Director, Mars Innovation

Investing in Life Sciences Making Investments and Overseeing Existing Portfolio Companies

Stacey  Ivanchuk

Stacey Ivanchuk

Director, Intellectual Property

Experienced and strategy-minded director with extensive experience managing commercially driven programs

Intellectual Property Strategy Access to Essential Medicines Biotechnology Patent Protection Early Stage Commercialization

Parimal  Nathwani

Parimal Nathwani

Vice President, Life Sciences

Parimal Nathwani received his M.Sc. from the University of British Columbia and his M.B.A. from Simon Fraser University

Forming Start-Up Companies Raising Early-Stage Capital Managing Intellectual Property

Dr. Raphael (Rafi) Hofstein

Dr. Raphael (Rafi) Hofstein

President & CEO

Turning academic ideas into commercial realities

Corporate & Business Strategy Early-Stage Investing Life Sciences and Healthcare Technology Transfer Commercialization of Innovation

Industry Experience (7)

  • Biotechnology
  • Cleantech
  • Hardware (not computer)
  • Information Technology and Services
  • Medical Devices
  • Research
  • VC and Private Equity