McMaster celebrates startup companies at inaugural Founders Dinner
McMaster University hosted its first Founders Dinner in June to celebrate McMaster-affiliated startup companies making significant contributions to our local and global research community, economy and society.
The event was held to recognize the achievements of some of McMaster’s most successful startups – eighteen of which were incorporated within the past 10 years. Collectively, the companies have created over 500 highly skilled jobs in Canada and over 800 worldwide. They have generated over $20 million in annual revenue, raised over $570 million in financing, and have a market cap of $715 million.
Representatives from Adiga, Altus Assessments, Allarta, Adapsyn, Elarex, Century Therapeutics Canada (formerly Empirica), Enedym, Exerkine, FendX, Fusion, Insight Medbotics Inc., MesoMat, Naturally Synthetic, Patriot One, Synmedix, Triumvira, Turnstone, VoxNeuro, and VoxPop were invited to the dinner. The companies have developed and launched a diverse range of products and services, including electric motor technologies, radiopharmaceuticals for precision medicine, cancer immunotherapies and data analytics solutions.
Gay Yuyitung, Executive Director of the McMaster Industry Liaison Office (MILO), said the event provided an opportunity to recognize and celebrate the successes of these entrepreneurial faculty and create a community where these leaders can share experiences and learn from one another in creating high-growth companies.
“So many of McMaster’s researchers have transformed their research and knowledge into a product or service that will improve the health and well-being of society and the environment. It’s important that we continue to support and build this community of startups, who serve as an inspiration for the next generation of industry leaders,” she says.
MILO manages the McMaster Seed Fund (MSF) – a pre-seed investment fund designed to foster research-intensive and innovative startup companies that will have a significant economic and societal impact in the Greater Hamilton Area. MSF addresses the early-stage start-up gap, enabling innovations to transition from research breakthroughs into products and services.
Two McMaster startups, Synmedix and Insight Medbotics Inc., received a combined $735,000 in the first round of MSF investments. Andy Knights, McMaster’s Associate Vice-President, Research congratulated both for the success they have had in growing their companies since receiving their initial MSF investment.
“We are proud of all McMaster affiliated startups for the tremendous contributions they’ve made in their fields and in the lives of many across Canada and the world. These companies have turned their innovative ideas into successful businesses, creating jobs and new opportunities for research in the process. This event marks the first of what we hope will become an annual celebration for startup founders, and I am looking forward to seeing what the future holds for them,” he says.