McGill and Innovobot announce deal to ramp up spinoff creation

Agreement will accelerate the launch of tech-based companies

McGill University and Innovobot today announced they have reached an agreement to accelerate the commercialization of technologies based on research undertaken by McGill professors.

This agreement builds on past successes and formalizes a long-standing relationship between the two entities. Innovobot has successfully incubated other firms that are based on technologies developed at McGill, notably CarbiCrete and Independent Robotics. The company has its own in-house innovation facilities – Innovobot Labs – which further increases their ability to deliver high functioning concepts to the marketplace.

Innovobot is a Montreal-based investment and innovation platform that specializes in incubating advanced technology companies and bringing innovation to commercialization. Innovobot focuses on human-machine interface, robotics, artificial intelligence, the internet of things, and advanced materials.

“As we strive to increase the impact of our research on society, having strong partners to accelerate commercialization by providing financing and tangible support is an essential element,” said Mark Weber, PhD, Director, Innovation + Partnerships, McGill University. “This agreement is proof positive of our commitment to this process.”

"We are thrilled to formalize our collaboration with McGill University, dedicated to bringing exceptional innovation to commercialization," says Danny Grant, PhD, CTO of Innovobot and Adjunct Professor at McGill University. "From ideation to impactful solutions, we harness academia's innovation potential, freeing groundbreaking ideas from the confines of the labs to address the many challenges facing the world. Together, we are not just fostering Canadian innovation, we are effecting change on a global scale."

In recent years, McGill University has been increasing its creation of spinoff companies based on IP generated at the University. In 2022, 15 new companies were spun out of McGill research, the most by any academic institution in Quebec.