Business Development Bank of Canada funds accelerator program at uToronto

August 19, 2014

The Business Development Bank of Canada (BDC) has agreed to invest in the Rotman School of Management’s Creative Destruction Lab at the University of Toronto. The Lab offers an 8-month business accelerator program that is designed to help commercialize promising technology. It offers researchers the opportunity to connect with and benefit from the expertise of experienced entrepreneurs. “You can’t teach entrepreneurship in a classroom. You’ve got to find people who have the entrepreneurial DNA ... [and] surround them with the experience and the know-how,” said Dominique Bélanger, VP Investments and Partnerships at BDC. Bélanger said that the partnership is representative of a revised approach to venture capital investment in Canada that is more in tune with Canadian strengths and focuses on regional specializations. BDC previously invested in the healthcare accelerator Accel-RX, using funding set aside by the federal government to invest in Canadian startups. Globe and Mail (Subscription Required)