UofT’s Creative Destruction Lab Announces Expansion to New York City.
October 10, 2017
Toronto – Today one of the world’s premier seed-stage programs for massively scalable science-based ventures at the University of Toronto’s Rotman School of Management announced its latest expansion.
The Creative Destruction Lab will partner with the Stern School of Business at New York University to establish the first Lab outside of Canada – CDL New York City.
CDL New York City will bring together, in a nine-month program, three groups: highly successful serial entrepreneurs and angel investors; founders of pre-seed stage startups in science and technology; and Stern faculty and MBA students. Startups selected for the program will benefit from the business judgement of highly successful entrepreneurs, new opportunities to raise capital, and guidance from the Lab’s Chief Scientists – world-renowned NYU faculty drawn from science and technology disciplines, including researchers who’ve successfully commercialized their own companies. They will also receive business development support from Stern faculty and MBA students through an affiliated experiential-based CDL course.
“Our model for developing massively scalable science-based ventures has proved successful in Canada,” says Ajay Agrawal, Peter Munk Professor of Entrepreneurship at the Rotman School, who is the founder and academic director of the Creative Destruction Lab. “And we anticipate it will be similarly successful for our partners at NYU.”
CDL New York will begin accepting applications from early-stage science and technology-based startups on January 1, 2018 and expects to admit about 25 ventures in the first year. Applicants can be graduates from universities other than NYU. The program will begin in September 2018.
The Creative Destruction Lab is a seed-stage program for massively scalable, science-based ventures. It employs a unique, objectives-focused coaching process to help founders commercialize advances in science and technology. The Lab also provides experiential learning to Rotman MBA students through year-long courses where students work alongside the Lab’s Fellows and venture founders, giving them a unique chance to learn how to evaluate, finance, and manage technology businesses.
Graduates of the Lab include Thalmic Labs (Waterloo), Atomwise (San Francisco), Deep Genomics (Toronto), Nymi (Toronto), Automat (Montreal), Kyndi (Palo Alto), and Heuritech (Paris). The Creative Destruction Lab was founded in 2012 at the Rotman School and now has additional programs at the UBC Sauder School of Business, the Haskayne School of Business at the University of Calgary, HEC Montreal and Dalhousie University. This year the Lab in Toronto launched a new program focused on the creation of quantum machine learning startups. More information is available at www.creativedestructionlab.com.
The Rotman School of Management is located in the heart of Canada’s commercial and cultural capital and is part of the University of Toronto, one of the world’s top 20 research universities. The Rotman School fosters a new way to think that enables our graduates to tackle today’s global business and societal challenges. For more information, visit www.rotman.utoronto.ca.
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