Inaugural AcceleratorFest inspires current and future entrepreneurs at U of T
With new and returning students eager for the kick-off of another fall term, U of T Entrepreneurship (UTE) fueled the exciting back to school momentum by hosting the inaugural AcceleratorFest, drawing hundreds of students, alumni, faculty, accelerator staff and community partners to the new Schwartz Reisman Innovation Campus.
In the heart of the Discovery District in downtown Toronto, AcceleratorFest connected attendees with the resources, support, and spaces available to them across the University of Toronto ecosystem.
Leveraging a trade show-style layout, students and community members had the opportunity to network with 12+ accelerators across the tri-campus and discover tools to help them build ventures across all areas of interest and expertise, including health, technology, artificial intelligence and even music and the arts.
During the accelerator showcase, attendees learned how to access mentorship, education, funding and partnership opportunities, plus state-of-the-art coworking and laboratory spaces available to them at U of T.
“AcceleratorFest provides exposure and inspiration to our growing number of U of T entrepreneurs regardless of where they are in their journey. No matter what you study, where you study or what problem you are motivated to solve, there are resources and a welcoming community to help you succeed,” says Jon French, Director – U of T Entrepreneurship.
Always a crowd-favourite, the Desjardins Speaker Series returned to the stage to headline AcceleratorFest, starting with a reverse pitch, where representatives from 12 accelerators pitched their programs and offerings to the audience. With only one minute and one slide to deliver their elevator pitch, accelerator staff were compelled to describe how they can add value in as clear and concise a manner as possible.
The Desjardins Speaker Series was moderated by French, and starred Zain Zaidi, Co-founder of TransCrypts, and Catherine Chan, Senior Director of Product at Leapcure and Co-Founder & former CEO of Honeybee Trials.
In this fireside chat, Chan and Zaidi shared personal stories of how they built their successful startups from the ground up. Chan recalled how she had to bike around the city and knock on the many doors of doctors and researchers to convince them to test her patient recruitment app, Honeybee.
As an entrepreneur who sold her company, Honeybee, to clinical trials giant Leapcure, Chan also shared her acquisition experience, highlighting the mixed emotions and the need to exit to an entity that shares similar values. Zaidi shared advice about not undervaluing your venture and the need to avoid bad investment terms and conditions that could hinder your business in the long-term. He also opened up about his experience working with American businessman and investor, Mark Cuban who is always willing to be pitched by a founder.
Both entrepreneurs shared their take on the difference between the innovation and entrepreneurship landscape in Canada vs. the United States, and the benefits of being involved in both ecosystems and the reality of going to where the funding and talent are concentrated.
Members of the audience had the opportunity to ask for advice about investor negotiations, mergers and acquisitions and how to make decisions that are best for the long-term success of their business.
Wesley Ladouceur, Vice-President, Commercial Banking at Desjardins Ontario Credit Union, kicked off the speaker series, emphasizing the importance of Desjardins’ investment in entrepreneurs at U of T. Leah Cowen, Vice-President of Research & Innovation and Strategic Initiatives at U of T, delivered final remarks, highlighting the significant impact of entrepreneurship and innovation and expressing U of T’s gratitude for Desjardins’ support.
AcceleratorFest attendees also had the chance to tour ONRamp, UTE’s coworking and community space located on the 7th floor of the Schwartz Reisman Innovation Campus to learn about the many perks of membership.
AcceleratorFest was able to bring the community together and provide attendees with valuable insights, connections, and inspiration to pursue their interests and entrepreneurial goals. The event solidified U of T’s commitment to fostering a thriving entrepreneurial ecosystem and supporting students in their pursuit of innovation. See you next year!