Grants and Contributions:

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Title:

811949

Agreement Number:

811949

Agreement Value:

$17,007,958.00

Agreement Date:

Aug 3, 2018 - Jul 31, 2025

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:

The amendment has been completed to extend the project completion date from July 31, 2023 to July 31, 2028. This is a non-repayable contribution.

Amendment Date

Jul 25, 2023

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 Stream2- 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