Grants and Contributions:

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Title:

811949

Agreement Number:

811949

Agreement Value:

$17,007,958.00

Agreement Date:

Mar 30, 2019 - Jul 31, 2033

Description:

The funding will help Creative Destruction Lab (CDL) gain insight into the success of start-ups. The research project using artificial intelligence (AI) tools will facilitate CDL supporting business ventures that harness emerging technologies such as AI, clean tech, energy, health, smart cities and space and quantum technologies.

Organization:

Innovation, Science and Economic Development Canada

Expected Results:

This investment will result in increased technical capacity in Canada through the specialized streams that Creative Destruction Lab will operate, most notably a Quantum Machine Learning stream. The AI model has strong spillover potential, including applications in healthcare, finance, automotive and government. The AI project addresses shortcomings in start-up growth and financing in Canada and will ensure students and AI experts remain in Canada, in addition to attracting world-class AI experts from abroad.

Location:

Toronto, Ontario, CA M5S1A1

Reference Number:

033-2018-2019-Q4-811949

Agreement Type:

Contribution

Report Type:

Grants and Contributions

Recipient Business Number:

108162330

Recipient Type:

For-profit organization

Additional Information:

Please note this update includes a change to improve standardization of reporting across projects. The end date was updated from the end of the work phase of the project (31/07/2023) to the current end date of the contract (31/07/2023). This is not an extension. The end date now reflects the entirety of the agreement duration, including the benefit phase and residual audit period. The original start date was updated to reflect the correct execution date.

Amendment Date

Mar 31, 2026

Recipient's Operating Name:

The University of Toronto

Recipient's Legal Name:

The Governing Council of the University of Toronto

Federal Riding Name:

University--Rosedale

Federal Riding Number:

35110

Program:

SIF Stream 2 - Growth

Program Purpose:

Encourage R&D that will accelerate technology transfer and commercialization of innovative products, processes and services; Facilitate the growth and expansion of firms in Canada; Attract and retain large scale investments to Canada; and-Advance industrial research, development and technology demonstration through collaboration between academia, non-profit organizations and the private sector.

NAICS Code:

611310

Amendments:

See Amendments