Wet lab space SpinUp to open in a joint venture from UTM and Mississauga
Published June 7, 2023 at 11:19 am
A wet lab space called SpinUp is set to open for emerging entrepreneurs and innovators in Mississauga.
The wet lab is a joint venture between the University of Toronto Mississauga (UTM) and the City of Mississauga, and is being billed as the first venture incubator offering wet lab space in the Greater Toronto and Hamilton Area.
SpinUp will provide early-stage entrepreneurs and life science companies with affordable access to wet lab space, equipment, training and programming, according to a press release from the City of Mississauga yesterday (June 6).
“Our goal is to work with partners in the community, like UTM, to provide resources and facilities to support businesses from early stages of inception to scale-up, until they ultimately transition into their own space with a sustainable path forward,” said Mayor Bonnie Crombie in the announcement at BIO 2023 in Boston, Mass.
“SpinUp will be a key element in this journey for smaller life sciences companies and advances our city’s position as a leader in this space. The future is bright for our life sciences sector in Mississauga!”
The wet lab will be in the University of Toronto Mississauga’s New Science Building, which is currently under construction.
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An illustration shows the New Science Building, currently under construction at UTM. Rendering via UTM
“The University of Toronto Mississauga drives life science innovation,” says UTM vice-president and principal Alexandra Gillespie. “World-class researchers, students and partners come together here to launch start-ups that promote health, prosperity and vitality in our communities and around the world.”
Mississauga’s small, life sciences companies looking to test and commercialize their products and innovations can do so in the lab at subsidized rates more than 50 per cent below market standards, according to UTM.
“At SpinUp, entrepreneurs can use this facility for a fraction of the cost of comparable spaces, gaining time and conserving capital to build their companies even before they have to seek major private investment,” said Kent Moore, UTM’s vice-principal, research.
Christina Kakaflikas, director, Mississauga’s Economic Development Office; left, Alexandra Gillespie, vice-president and principal, UTM; Mayor Bonnie Crombie; Kent Moore, vice-principal, research, UTM; and Jason Field, president, Life Sciences Ontario were on hand for the announcement of SpinUp.
Entrepreneurs at SpinUp will have opportunities to form research partnerships with the University of Toronto’s science community.
And SpinUp companies can connect with UTM students in experiential learning.
SpinUp is expected to open this fall.
“SpinUp will invite entrepreneurs into UTM’s new science building, which will open in 2023 as one of the most comprehensive and energy efficient science facilities in North America,” said Moore.
For more on SpinUp see the City of Mississauga release here, and the UTM site here.
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