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BDC Capital partners with Rotman’s CDL accelerator

Graduates now eligible for convertible note investments.

August 18, 2014   by PLANT STAFF

MONTREAL — BDC Capital has entered into a three-year partnership with the University of Toronto Rotman School of Management’s Creative Destruction Lab (CDL) high-tech venture accelerator and will be involved in all aspects of the program.

The subsidiary of the Business Development Bank of Canada is now a founding partner of the CDL and will have a seat on its advisory board.

CDL in operation since 2012, speeds the development and marketing of student-grown inventions that have strong commercial potential. So far it has generated more than $100 million in equity value. Its aim is to reach $1 billion.

Graduates of the program will also now be eligible for BDC Capital’s convertible note investment program.

Prior to concluding the partnership, BDC Capital had invested in six graduates: OTI Lumionics, Whirlscape, PiinPoint, PUSH Design Solutions, LINKETT, and Kiwi Wearables. Since 2012, it has invested a total of $13.2 million in 87 companies nationwide through its convertible note investment program, with private investors putting up an additional $38 million.

“We’re now looking to partner with other select accelerators that have demonstrated their ability to produce and support world-class venture-fundable startups in the IT, healthcare and industrial/clean/energy technology sectors. Rotman’s Creative Destruction Lab is a perfect fit,” says Dominique Bélanger, BDC Capital’s vice-president, strategic investments and partnerships.

CDL offers an eight-month program that leverages the faculty and industry networks of the Rotman School of Management and draws in candidates from the technology-oriented faculties at the University of Toronto as well as those of other universities.


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