The Creative Destruction Lab (CDL) at the University of Toronto’s Rotman School of Management announced its latest expansion to New York City.
CDL will partner with the Stern School of Business at New York University to establish the lab. The location will support three groups: highly successful serial entrepreneurs and angel investors, founders of pre-seed stage startups in science and technology, and Stern faculty/MBA students through a nine-month program. This initiative will provide a coaching process that looks at how to evaluate, finance, and manage technology businesses.
CDL was founded in 2012 and has a strong list of alumni, including Thalmic Labs (Waterloo), Atomwise (San Francisco), Deep Genomics (Toronto), Nymi (Toronto), Automat (Montreal), Kyndi (Palo Alto), and Heuritech (Paris).
This expansion to New York City comes after the cross-Canada expansion of CDL: CDL-Rockies at the University of Calgary’s Haskayne School of Business; CDL-Montreal at HEC Montréal; and CDL-Atlantic at Dalhousie University’s Rowe School of Business in Halifax.
The application process for CDL New York will begin on January 1, 2018, giving approximately 25 early-stage science and technology startups the opportunity to get first-hand advice from researchers and professionals with experience in commercializing companies.
The applicants selected will begin the program in September 2018 and will be mentored by successful entrepreneurs and NYU science and technology faculty. They will also receive business development support from Stern faculty and MBA students.
“Our model for developing massively scalable science-based ventures has proved successful in Canada,” says Ajay Agrawal, founder and academic director of the Creative Destruction Lab. “And we anticipate it will be similarly successful for our partners at NYU.”
The lab recently started a new program that focuses on startups in quantum machine learning, and continues to expand its reach.