{"id":382484,"date":"2018-06-11T04:06:56","date_gmt":"2018-06-11T08:06:56","guid":{"rendered":"https:\/\/www.steelcase.com\/?p=382484"},"modified":"2023-01-14T02:38:20","modified_gmt":"2023-01-14T07:38:20","slug":"think-big-fix-things","status":"publish","type":"post","link":"https:\/\/www.steelcase.com\/research\/articles\/topics\/culture-talent\/think-big-fix-things\/","title":{"rendered":"Think Big and Fix Things"},"content":{"rendered":"
Although the name suggests otherwise, MaRS is grounded in challenges that affect humans on earth. As the world\u2019s largest urban hub for innovation, it exists to help entrepreneurs launch and grow innovative companies that make the world a better place. Everyone who is part of MaRS is encouraged to \u201cthink big and fix things.\u201d<\/p>\n
Founded in 2005 as a private\/public not-for-profit organization in the heart of Toronto, MaRS provides encouragement, funding and a workplace for entrepreneurs and innovative startups in four key sectors\u2014health, work and learning, energy and environment, and finance and commerce. It helps startups get to a higher level of impact by curating and carefully matching them to companies in its extensive global network of corporate partners, which includes Steelcase\u2014companies that are serious about accelerating innovation through win-win relationships.<\/p>\n
\u201cWe call ourselves MaRS-ians because each of us is really passionate about the mandate of innovation and solving big problems for societal good,\u201d says Sonia Lagourgue, senior manager, Partner Success, Corporate Engagement. \u201cWe\u2019re here to amplify the great work that Canadian entrepreneurs are bringing to the world and to make sure they have the resources and the networks to be successful.\u201d<\/p>\n
Lagourgue works closely with corporate partners like Steelcase to understand their innovation strategies and then introduce them to startups with potential relevance to their interests and goals. It\u2019s a consultative, individualized and personalized approach.<\/p>\n\u201cWe believe space is a platform for how business is done today,\u201d explains Lagourgue. In addition to capital, she says, entrepreneurs need to be able to network and collaborate.<\/figcaption><\/figure>\n
The result is innovations such as WinterLight Labs\u2019 AI technology that quickly and accurately breaks down speech and language patterns to help detect and monitor diseases like Alzheimer\u2019s. Just a few other examples of innovations that MaRS has nurtured are Advanced Energy Centre\u2019s blockchain-enabled solutions for energy storage and Knockri\u2019s artificial intelligence that lets companies screen job candidates without culture- or gender-based biases.<\/p>\n
At MaRS, there\u2019s a strong belief that innovation doesn\u2019t happen on its own; more than ever before, place matters. \u201cWe believe space is a platform for how business is done today,\u201d explains Lagourgue. In addition to capital, she says, entrepreneurs need to be able to network and collaborate.<\/p>\n
MaRS over-delivers on both fronts, providing labs and offices for 150 organizations, from startups to large multinationals, and functioning as a hub for more than 1,200 ventures. More than 6,000 innovators come to work at MaRS every day to meet, share ideas, learn and create coalitions.<\/p>\n
Demystifying Innovation<\/h3>\n
In the heart of Toronto\u2019s Discovery District, a center of universities, hospitals and research enterprises that neighbors the financial district, MaRS is absorbing and contributing to the vibrancy of this city that\u2019s become a high-tech hotbed, thanks in no small part to the pioneering work of Toronto researcher Geoffrey Hinton, the so-called \u201cGodfather of AI.\u201d<\/p>\n
<\/p>\n
\u201cWe\u2019re seeing innovation move out of isolated suburban campuses where it\u2019s mysteriously run by technology companies and out of the corners of university labs where no one really knows what\u2019s going on,\u201d observes Lagourgue. \u201cInstead, MaRS is integrated into the economic fabric of Toronto and the talent networks that exist here. Innovation is at the heart of everything that\u2019s happening in this city.\u201d<\/p>\n
In addition to its urban location, MaRS is also at the forefront of several other shifts that are changing how innovation happens today.<\/p>\n
\u201cEntrepreneurship has moved forward dramatically and become more mainstream,\u201d says Lagourgue. \u201cIt\u2019s being taught in schools, there are tons of resources and experts to follow. Plus, advanced technologies are becoming more affordable and accessible, so it\u2019s easier for people to build technology-enabled solutions and launch a business\u2014you can turn an idea into a startup with a smartphone and a credit card!\u201d<\/p>\n
\u201cWe want to elevate the capacity for innovation across the whole ecosystem. Corporations and startups are both part of that value chain. By facilitating partnerships, we\u2019re helping both parties leverage each other\u2019s strengths in a solution that\u2019s mutually beneficial so they both can achieve more.\u201d<\/p>Sonia LagourgueSenior Manager, MaRS Discovery District<\/span><\/cite><\/blockquote>\n
At the same time, she says, large organizations are starting to understand that they have to integrate innovation as part of their day-to-day operational fabric, as opposed to just relegating it to some type of sidelined R&D function. \u201cBecause there\u2019s so much more demand, they have to respond much faster and more authentically, and constantly evolve at the same pace that technology is evolving. They can\u2019t do all that internally on their own, at least not fast enough. They have to get comfortable with partnering, collaborating, acquiring or investing in order to keep up with trends and demands.\u201d<\/p>\n
Creating Coalitions<\/h3>\n
While the demand for innovation is higher and faster-paced than ever, it remains difficult. The overall failure rate for startups is about 90 percent. It\u2019s not easy for ventures to get the support they need to turn their ideas into a profitable reality, and they struggle to find markets and navigate the corporate world to gain scale.<\/p>\nMore than 6,000 innovators come to work at MaRS every day to meet, share ideas, learn and create coalitions.<\/figcaption><\/figure>\n
Meanwhile, big businesses are challenged to access the steady stream of ideas and talent they need to be more innovative and move their businesses forward. Organizations like MaRS can help. Lagourgue describes its open approach as \u201ca coalition of the willing who understand that innovation will be the driver of their success.\u201d<\/p>\n
MaRS works hard to make coalitions happen successfully. \u201cWe want to elevate the capacity for innovation across the whole ecosystem. Corporations and startups are both part of that value chain,\u201d says Lagourgue. \u201cBy facilitating partnerships, we\u2019re helping both parties leverage each other\u2019s strengths in a solution that\u2019s mutually beneficial so they both can achieve more.\u201d<\/p>\n
Photography courtesy of MaRS Discovery District<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
In the heart of Toronto, MaRS, an urban innovation hub, is helping entrepreneurs and startups achieve a higher level of impact.<\/p>\n","protected":false},"author":15,"featured_media":383093,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"topic":[47679],"class_list":["post-382484","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","industry-workplace","topic-culture-talent"],"acf":[],"yoast_head":"\n
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