Toronto Metropolitan University Secures $4.25 Million Investment to Lead Ontario’s Lab2Market Hub
Toronto Metropolitan University (TMU), a co-founder of the Lab2Market network, is cementing its role at the forefront of Canada’s research commercialization efforts. As part of the Government of Canada’s recent $32 million investment in Lab2Market, TMU will receive $4.25 million over the next five years to expand innovation hubs and enhance programming across Ontario. This funding underscores Lab2Market’s transformative mission to empower researchers and graduate students to turn academic breakthroughs into impactful real-world innovations.
“The funding announcement highlights the essential contribution of universities in fostering economic growth,” says John MacRitchie, assistant vice president, Zone Learning and Strategic Initiatives at Toronto Metropolitan University and Chair of the Executive Committee for Lab2Market.
“Lab2Market takes a fundamentally different approach in translating our investments in Canadian research. The expansion of Lab2Market will empower a new generation of researchers in transforming their innovations into solutions for some of the world’s most urgent challenges, while also creating a pipeline of talent and economic opportunities for Canada.”

From left to right: Spencer Giffin, Lab2Market, John MacRitchie, Toronto Metropolitan University, Jeff Larsen, Dalhousie University, Dr. Loren Oschipok, University of Manitoba, Dr. Darren Fast, University of Alberta, Dr. Hans-Joachim Wieden, University of Manitoba, and Dr. Elicia Maine, Simon Fraser University at the Lab2Market x Government of Canada Grant Announcement
Ontario Hub Leadership: A Catalyst for Innovation
Serving as the lead institution for Lab2Market's Ontario hub, TMU will oversee the distribution of $850,000 annually to strengthen the province's efforts in bridging Canada’s innovation gap. Since its founding in 2020 by TMU and Dalhousie University, Lab2Market has worked to address the critical need to transform world-class research into market-ready solutions with societal impact.
At TMU, Lab2Market is deeply integrated into its acclaimed entrepreneurial Zones—the Science Discovery Zone (SDZ) and the Innovation Boost Zone (IBZ). These Zones have been instrumental in developing and scaling the Lab2Market program suite.
- Innovation Boost Zone: Played an instrumental role in shaping the Lab2Market program suite. Between 2020 and 2024, IBZ collaborated with funders including FedDev Ontario, Mitacs, and NSERC to pilot the Lab2Market Validate program regionally and nationally. Additionally, IBZ launched Lab2Market Build in partnership with NSERC to help I2I Phase 1 grant recipients develop the first versions of their products. To date, IBZ has supported 215 teams from 33 universities, resulting in 38 startups, $31 million raised (over 70% of the entire network's results), and 93 jobs created.
- Science Discovery Zone: Championed Lab2Market Discover, an exploratory entrepreneurship program that introduces researchers to entrepreneurship as a viable career path, connecting participants to additional resources and Lab2Market’s later-stage programs.
Success Stories: Transforming Research into Impactful Ventures
Lab2Market has already enabled groundbreaking innovations, including several with TMU connections:
- Biofect Innovations: TMU alumni-founded startup leveraging Lab2Market’s Validate and Launch programs to develop Brazzein, a protein-based sweetener that is 2,000 times sweeter than sugar without adverse health effects.
- VI SIX: Founded by TMU master’s graduate David Raveenthrarajan and Faculty Member Marc Adler, this venture uses organic chemistry to revolutionize whisky and rum production, reducing maturation time from three years to four months.
- Epiloid Biotechnology: Co-founded by a TMU Post Doctoral Fellow, this company grows miniature human brain tissue for drug testing, offering sustainable and accurate alternatives to traditional animal testing.
Regional Collaboration for a National Vision
As the Ontario Hub lead, TMU collaborates with McMaster University, the University of Waterloo, York University, Laurentian University, Brock University, Western University, Queen's University, Guelph University, Centennial College, Sheridan College and the University of Toronto. This network fosters shared knowledge, resources, and opportunities across Ontario’s academic ecosystem.
Tarek Sadek, Executive Director of the Innovation Boost Zone and Lab2Market Ontario Hub Lead, reflected on the announcement:
“This is transformative. Five years ago, we began with a single program, and today we see the incredible impact academic institutions can have in driving economic growth through collaboration. The accomplishments of the past five years highlight our country’s immense potential. The unwavering commitment of our Ontario partners to the network’s vision and mission has been instrumental in reaching this milestone, and I am deeply grateful for their support.”

Tarek Sadek, Executive Director of the Innovation Boost Zone and Lab2Market Ontario Hub Lead, speaking at the Lab2Market Summit. Photo Credits: Daybreak Studios
Looking Ahead: A Bold Vision for Ontario’s Innovation Ecosystem
With the $4.25 million in funding, TMU and its Ontario partners aim to:
- Support over 1,025 research teams from 2025 to 2030
- Establish 100 new companies, driving job creation and economic growth
- Embed equity, diversity, inclusion, and accessibility (EDIA) principles into program recruitment and design, ensuring an inclusive innovation ecosystem
This investment aligns with Lab2Market’s broader national strategy to enhance Canada’s innovation capacity, addressing challenges in sectors like health, clean technology, and advanced manufacturing. TMU’s leadership ensures Ontario remains a powerhouse in nurturing transformative ideas into world-changing solutions.
Wesley Kosiba, Deep Tech Startup Manager at the Innovation Boost Zone and Lab2Market National Programming Lead, shared his perspective on the announcement:

Wesley Kosiba, Deep Tech Startup Manager at the Innovation Boost Zone and Lab2Market National Programming Lead, speaking at the Lab2Market Summit. Photo Credits: Daybreak Studios
"Through the development and delivery of the Lab2Market program suite across Ontario and Canada, I have had the privilege of witnessing the exceptional talent and entrepreneurial ambition of our students and faculty. This funding guarantees that Lab2Market will continue to equip innovators with the tools they need to drive meaningful transformation in Canada’s innovation ecosystem. The future of Canadian Deep Tech is incredibly bright."
About Lab2Market
Lab2Market is Canada’s leading research commercialization network. Inspired by global best practices like NSF I-Corps (U.S.) and ICURe (U.K.), Lab2Market provides researchers with entrepreneurial training, mentorship, and funding to validate their research as a business opportunity. Since its inception, Lab2Market has supported over 1,000 research teams, driving innovation in diverse fields and creating measurable societal and economic impact.