Over the past year, McMaster continued to support its students, faculty and the Hamilton innovation community to increase the development and commercialization of intellectual property (IP) for the benefit of Canadians.

1. Improving IP Capacity: Access to IP education, and curricular and co-curricular programming available across disciplines continues to strengthen. This past year, 3251 students enrolled in Minor in Innovation courses; 230 learners have accessed MILO’s online IP Modules; 697 students and community members participating in Health Innovation Hub programs; and 27 students involved in their own startups through Forge’s summer program.
2. Increasing IP Development and Commercialization Opportunities: This year, the McMaster Seed Fund (MSF) and the McMaster Entrepreneurship Academy (MEA) supported five new faculty-led companies. Since its inception in 2021, MSF has invested in eight start-ups, which now collectively employ 42 highly qualified personnel and have raised $7.2 million in follow-on financing, and gained the necessary regulatory approvals or certifications leading to four new products or services to the market. Launched in 2024, MEA provides researchers with teaching buyout, network connections, mentorship, and lab space to translate their research into investible companies through programs like the Professor Entrepreneur Fellowship and Innovation Matchmaking.
3. Improving the Ecosystem: Partnerships with local and global organizations allow us to expand our ecosystem and enhance our programs. From on-going initiatives with our affiliated hospitals, such the HHS Drive platform that funded three clinical groups to advance their health innovations, to a new collaboration with venture capital firm Celesta Capital to bring investments closer to McMaster companies to support the commercialization of deep tech in Canada.

These activities are captured under the McMaster Entrepreneurship umbrella, an institutional initiative, supported by the University’s senior leadership team. On March 27, 2024, some 300 members of our innovation community celebrated the university’s focus on entrepreneurship, innovation and commercialization and the launch of McMaster’s new entrepreneurship website – a one-stop digital hub with resources, programs, services and supports for community members at every stage of their entrepreneurial journey.

These resources support our students and researchers in their efforts to make a social and economic impact by creating companies that start, grow, and stay in Canada. Our largest success to date was the recent $2.4 billion acquisition of McMaster startup company – Fusion Pharmaceuticals by AstraZeneca. Founded by John Valliant, professor in Chemistry and Chemical Biology, the university supported Fusion’s growth since its 2014 inception – from research and student training, IP creation, development of its 100 employee workforce and support for its purpose-built, GMP manufacturing space at McMaster Innovation Park. The acquisition and injection of foreign direct investment mean that Fusion will expand its Ontario operations and Canadian cancer patients – and those around the world – will benefit from its targeted radiopharmaceutical treatments.

A fall 2023 celebration of McMaster’s dynamic innovation ecosystem – designed to enhance networking and collaboration opportunities – brought together over 100 innovation leaders, investors and entrepreneurs to advance McMaster’s growing research and commercialization enterprise and its resounding impact in our local and global communities.