

Toronto MaRS statement by BOD - amaanr
http://www.marsdd.com/media-centre/statement-mars-board-directors/

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apineda
There was a great discussion on Startup North's facebook page about this.
Seems like more needs to substantiated?

[https://www.facebook.com/groups/startupnorth/permalink/10152...](https://www.facebook.com/groups/startupnorth/permalink/10152469066797840/)

It doesn't help that $1b has been poured in. It's too monstrous imo. The
opposite of lean. It doesn't help things that their science building project
failed/is failing and backed by tax payer $$.

[http://www.thestar.com/business/real_estate/2014/05/30/secon...](http://www.thestar.com/business/real_estate/2014/05/30/second_phase_of_mars_tower_nearly_empty.html)

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cing
This statement is a response to articles like this [1] that have been floating
around lately.

[1] -
[http://www.thestar.com/news/queenspark/2014/05/31/mars_build...](http://www.thestar.com/news/queenspark/2014/05/31/mars_building_deal_projects_36_million_loss_over_10_years_secret_documents.html)

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jt2190
This is what is so frustrating about Canada... In this case, the government
gets involved [1] in investing in early-stage companies, a ton of money goes
instead to building a shiny building in a hyper-expensive real-estate market,
and the government steps in with taxpayer money to bail itself out when things
don't go well.

[1] Partners in MaRS include the Province of Ontario, the Government of Canada
and the City of Toronto: [http://www.marsdd.com/about/our-
partners/](http://www.marsdd.com/about/our-partners/)

~~~
eigenvector
Because what early-stage startups desperately need is luxury office space
available for lease terms of _only_ 4 years.

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amaanr
Have never heard of any Canadian startups raising $1 billion through the MaRS
Discovery District. I'm sure that value is an amalgamation of a few startups,
nevertheless I'm interested in learning more about this.

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dmix
They do pretty traditional gov-funded stimulation of science/tech industry. I
heard on the grapevine most of the money goes to high-paid former-industry
executives who are consulting to help accelerate existing companies. That plus
support mostly patent-based research.

I've been there a bunch of times and it definitely doesn't have the culture of
small nimble SF-style tech startups you'd expect. Feels much more corporate.
Mostly a place where suits get to talk excitedly about 'innovation' and
'entrepreneurship', with nary an entrepreneur around.

~~~
noorie
Agreed, MaRS definitely doesn't have a small SF feel of tech startups at all.
Waterloo is where it's at really if you're looking for a place that supports
really early stage stuff.

~~~
turnip1979
Are you plugged into the W'loo community? Any intros or tips on how to get
started? Sadly, I'm a UofT alum - when I looked at the programs at Waterloo,
they seemed focused on their students.

~~~
peeters
I'm not plugged into the startup community in Waterloo, but Communitech seems
to make the most noise:
[http://www.communitech.ca/](http://www.communitech.ca/)

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idm
I'm working with a startup that regularly meets at MaRS. We're in the
cafeteria; office space is a little too expensive to be realistic at this
point.

For me, the "buzz" is a big part of it. The fact that investors just happen to
be in the neighbourhood. The fact that it's a good, central location right on
the subway. There is a lot happening, including events that bring other
entrepreneurs and investors to the same building.

I'm not aware of having raised any money through MaRS, but I know MaRS
nevertheless plays a big role in the startup scene in Toronto, and it's been a
big part of my personal experience. This is a great investment for Canada, and
it would be depressingly foolish to interfere with the good thing they have
going.

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guiomie
"Young companies receiving advice and support from MaRS raised more than $1
billion in financing in the last 3 years, and generated more than $500 million
in revenue."

Can someone help me understand this properly? Because from my perspective
right now, this isn't bragging material. Turning 1B$ in 500M$ revenue, not
even profits ... seems like poor investment returns.

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apercu
Perhaps their companies aren't going to IPO, they are getting acquired
instead. I think HOVR.IT was bought by Slyce last year. Intel bought a MaRS
company 4 years ago as well.

~~~
bhouston
Are you talking about Intel's purchase of RapidMind?

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ska
RapidMind was in Waterloo, not Toronto, and purchased several years ago now.
aperco perhaps is referring to this one
[http://www.newswire.ca/en/story/722543/intel-corporation-
acq...](http://www.newswire.ca/en/story/722543/intel-corporation-acquires-
toronto-start-up-cognovision)

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eliteraspberrie
The Ontario government should be informed that the big, expensive skyscrapers
come after the innovation, not before.

