MIP announces new interim CEO, search for permanent CEO set to begin

Over the past year, McMaster has been working to create stronger alignment between McMaster Innovation Park’s (MIP) priorities and the university’s research strengths. Thanks to the support and guidance of interim CEO, Debbie Martin, MIP is more poised to advance its vision of attracting innovative businesses and supporting our researchers’ commercialization discoveries.

Martin will soon transition from her role at MIP to focus solely on her McMaster role as associate vice-president, Real Estate, Ancillary Operations and Partnerships (REAP), to which she was appointed in June 2023. Martin has held both roles since last November and will continue to bring her expertise to MIP by serving on its Board of Directors.

Andy Knights, McMaster’s acting vice-president, Research, and chair of the MIP Board of Directors says Martin’s steady and strategic leadership was instrumental to reimaging the Park’s potential and future direction.

“Debbie’s leadership was remarkable, particularly as she managed both portfolios,” he says. “We owe her tremendous thanks for her dedication and for setting us up for future developments.”

Effective November 1, 2024, Gay Yuyitung, executive director of the McMaster Industry Liaison Office, will become interim CEO of MIP while the search for the permanent CEO gets underway.

“We are incredibly fortunate to have Gay in this role,” says Knights. “She brings a wealth of experience in commercialization and start-ups, understands the economic opportunities that research offers and is an integral part of the region’s innovation ecosystem.”

Yuyitung, who holds a PhD and an MBA, says she’s keen to work closely with the Park’s team and other stakeholders to capitalize on potential opportunities for MIP.

“It’s an exciting time for the Park and I’m happy to build on the initiatives that Debbie and the team have started and to keep the momentum until the permanent CEO is in place,” she says. “I’m optimistic that MIP will continue to play a key role in advancing research impact and economic development for our region.”

“I want to thank Debbie for her incredible leadership and Gay for accepting the interim CEO position,” says Saher Fazilat, vice-president of Operations and Finance at McMaster University. “We are looking forward to having Debbie return her full attention to REAP, a critical new portfolio that is developing a real estate strategy, exploring new partnerships and creating new operational efficiencies across ancillary units.”

Since its inception, McMaster Innovation Park has been a hub for innovation and economic development in the region. It’s home to cutting-edge research facilities like CANMET-Materials Technology Laboratory and the McMaster Automotive Resource Centre (MARC); leading business incubators like The Forge and Innovation Factory to support start-ups; and large pharmaceutical companies like Fusion Pharmaceuticals, a subsidiary of AstraZeneca. Last week, the OmniaBio B commercial-scale cell and gene therapy manufacturing facility opened.

The goal is to have the new CEO in place by spring 2025.