U of T amongst high 5 college enterprise incubators on the earth: UBI World

The College of Toronto has been acknowledged as one of many high 5 college enterprise incubators on the earth by UBI World in its newest world benchmark examine.
In its 2021-2022 examine, UBI World – a Swedish-based innovation intelligence firm with greater than 1,000 member organizations – assessed 1895 organizations from 90 international locations.
The highest organizations have been benchmarked throughout 21 key efficiency indicators in opposition to their international friends based mostly on the worth they supply to their innovation ecosystems and consumer startups.
“The UBI rating is a reinforcement of all the good work that so many U of T college students, college and alumni entrepreneurs have been doing,” says Jon French, director of College of Toronto Entrepreneurship, the umbrella group for the incubators, accelerators and entrepreneurship applications throughout U of T’s three campuses. “It’s a recognition of how we fare in opposition to one of the best on the earth.”
The rating is especially notable, French provides, since UBI is likely one of the solely organizations analyzing each financial and social influence in its international evaluation of the post-secondary entrepreneurship house.
“The method that UBI takes is sort of holistic – they measure onerous metrics, together with funding raised and jobs created, however additionally they check out standards similar to the place the mentor community is coming from and the way engaged the college’s alumni are,” French says, noting that U of T scored excessive on all such indicators within the UBI report and takes delight in supporting innovators in any respect phases of their journey – everybody from idea-stage pupil entrepreneurs to school members and PhD researchers looking for to commercialize their work.
Over the previous decade, U of T entrepreneurs have created greater than 600 venture-backed firms and secured greater than $2.5 billion in funding. U of T Entrepreneurship, for its half, helps present and aspiring entrepreneurs by offering: co-working, assembly and occasion areas; mentorship and advisory helps; pitch competitions and prizes; and entry to investor networks to safe funding.
U of T’s community of campus acccelerators and incubators within the Larger Toronto Space are at the moment supporting greater than 500 groups engaged on potential startups.
“It is vital that our entrepreneurs have a way of group – they’re surrounded by like-minded people who find themselves enthusiastic about innovation and turning concepts and alternatives into firms,” French says. “Throughout the 10-plus campus accelerators on our three campuses, we at the moment have over 500 groups which might be engaged on tasks that would develop into firms.”
UBI’s world benchmark examine is a third-party evaluation, based mostly on a complete survey, that analyzes the influence and efficiency of enterprise incubators and accelerators from 4 sectors: college, public, non-public and company. Its framework for evaluation was developed in collaboration with an advisory board comprising innovation thought leaders and trade consultants.
Different Canadian universities additionally ranked extremely of their classes within the UBI report, together with incubators from McGill College, York College, Memorial College and École de technologie supérieure.
Most of the U of T-backed success tales flagged for the UBI survey stemmed from the college’s power in modern analysis fields similar to quantum computing, biotech, clear tech, superior manufacturing and machine studying. Specifically, French factors to the current announcement of $40 million in federal funding for U of T startup Xanadu Quantum Applied sciences – an alumnus of the Inventive Destruction Lab (CDL) on the Rotman College of Administration that was based by former U of T post-doctoral physics researcher Christian Weedbrook – and the greater than 150 ventures supported yearly by the Well being Innovation Hub (H2i).
French famous that U of T’s dedication to entrepreneurship is longstanding, with a number of incubators and accelerators lately celebrating their 10-year anniversaries. They embrace CDL, The Hatchery on the School of Utilized Science & Engineering and the UTEST accelerator.
“And now after we take a look at the brand new Schwartz Reisman Innovation Campus near opening on the St. George campus, that’s once more an instance of U of T doubling down on how necessary innovation and entrepreneurship are to the college,” he says.
U of T’s world-leading innovation community – which incorporates U of T Scarborough’s The Hub and The BRIDGE, in addition to U of T Mississauga’s ICUBE – will likely be showcased throughout Entrepreneurship Week from March 6 to 9, that includes greater than 15 free in-person, hybrid and digital public occasions to show, encourage and have a good time entrepreneurship on campus.
One flagship occasion returning in-person for the primary time in three years is the True Blue Expo on March 9, the place greater than 40 U of T startups, accelerators and group companions will likely be sharing info on their services.
“We’ll be highlighting groundbreaking firms throughout Entrepreneurship Week, together with these led by girls founders and startups related to our Black Founders Community,” French says. “All three campuses are represented – it’s actually a snapshot of what makes U of T entrepreneurship so particular.”