Vision + Passion = Leadership

Two and a half years ago, the doors opened on a large-scale project with an ambitious mandate: to maximize the potential of Canadian innovation by connecting science, business and capital. Leading this start-up in the heart of downtown Toronto is the inimitable John Evans: pioneering physician, academic, entrepreneur and founding Chair of the Board at MaRS. As he prepares to hand off the responsibility of Chair in the months ahead to incoming Board member Gord Nixon, esteemed CEO of RBC, John sat down with Gord and MaRS CEO Ilse Treurnicht for a friendly chat about MaRS past, present and future.

Ilse: John, as many of us know, MaRS was an ambitious and gutsy idea for many years — in some ways it still is — and it was a long road before this fantastic building opened fully in 2005. Tell us about some of the leaders that shaped the birth of MaRS.

John: Let me start by saying that MaRS came into being because of an incredible coalescence of support. This was no one person’s effort, to be sure. In fact, the creation of MaRS represents the best of forward-thinking on the part of a whole community: representatives of the provincial and federal governments, business leaders, philanthropists, leaders of the university and research hospitals all recognized that although condominiums might have produced a greater return on the sale of the (decommissioned Toronto General Hospital wing) property in 2000, the logical occupant as a neighbor was a convergence centre of businesses, science and venture capital. The coalescence of these people around this project resulted from their recognition of the huge potential value of MaRS not only to the research and business communities but to the public at large as Canada worked more strategically toward building a knowledge-intensive sector on its already impressive academic and research strength. Many of those partners who were there from the start are still involved. John Manley, for example, was Minister of Industry, then Finance and is now an active participant on the Board.

"I believe passionately in the mission..." - Gord Nixon

Ilse: How would you say MaRS is different today from the vision that propelled it forward in those early days?

John: MaRS activities represent a much broader vision of what might be possible through the interactions of science, finance and business. Its educational programs promote entrepreneurial initiatives and a breadth of subject areas for investment that recognize no sectoral limitations. The mandate now extends beyond more conventional areas of science and technology to social investing and the role of MaRS as a stage for the exploration of technologies relevant to the knowledge-based industries. The province has been instrumental in its support, as is the private sector leadership we see coming forward. In addition to Gord, we have Bill White of DuPont joining the Board this year as well. And, of course, the rapidity of the growth at MaRS has far exceeded initial expectations. Who would have thought, two years after opening, the scene would be set for the Phase II expansion (opening in 2010) led by Alexandria Real Estate Equities, the top developer of this type of science/business real estate.

Ilse: What do you see as the unique challenges facing MaRS in the next five years and why is Gord Nixon the right person to take over as Chair of the MaRS Board?

John: There is a real difference between a start-up and a growth-phase enterprise and MaRS is moving into that growth phase. I think building bridges to the financial sector is very important and Gord is ideally suited for that. He is also an outstanding private sector spokesperson with all levels of government.

Ilse: MaRS is certainly growing – with our Phase II development under way, with a wide range of entrepreneurial programming and advisory services offered – yet in spite of those changes, MaRS still has the energetic, agile culture of a start-up. How can we ensure that we maintain that energy as we grow up as an organization?

John: Culture begins at the top and it’s the CEO that will give the dynamism, the flexibility and the agility in the leadership to ensure that MaRS continues to evolve in a very rapidly changing scene. One would hope that recognition and reward would follow with intelligence and risk-taking. Perhaps most important is to ensure that MaRS remains open to linkages with other groups that are reinforcing its mission both geographically and sectorally.

Ilse: Gord, RBC has a proud history here at MaRS, as a founding corporate supporter and as a tenant. The number of projects vying for air time with RBC is enormous. What was it about the MaRS vision that appealed to
RBC leadership?

Gord: We are a founding supporter of MaRS, which was a wonderful decision for which I can take absolutely no credit. It was based on the vision of John Evans and others as to what MaRS could do for Toronto, Ontario and Canada in terms of creating a resource to support innovation and the development and commercialization of science and technology. And what has been accomplished is remarkable. I believe passionately in the mission as a means of creating prosperity and competitiveness for Canada and it is both exciting and an honour to have the opportunity to assist MaRS in realizing its objectives.

"Culture begins at the top..." - John Evans

Ilse: Gord, you yourself have been active on the innovation file for a number of years. What do you see as the key competitive challenges for Canada in 2008 and what unique contribution can MaRS make to address those?

Gord: Canada has so many natural advantages in competing in the 21st century, starting with a talented and well-educated workforce, a strong financial position, a country rich in commodities and an open and collaborative society. But we are a small country and by no means a low-cost provider of goods and services. It is essential that we continue to transform our economy and utilize our strength in science, technology and innovation to create successful businesses and enhance our global position in terms of competitiveness and prosperity. MaRS has the ability to play a leading role in fostering our strengths in this area.

Ilse: MaRS is all about growing Canadian enterprises from science, tech and social innovation. Early-stage venture funding continues to be very tough in Canada. Are you seeing any new approaches on this front and how can MaRS play a role in that?

Gord: Early stage venture funding has been tough in Canada but it is only one factor in our poor record of commercializing the great research and science in our province. I have a more positive perspective with respect to venture capital in the belief that money, regardless of where it comes from, will always find attractive investment opportunities. Having said that, we would all like to see more come from Canada and things like the Ontario Venture Capital Fund, which RBC has committed $30 million towards, is a new approach that will help to facilitate investment. MaRS does and can play a role in working with various stakeholders in facilitating and promoting opportunities for venture money.

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MaRS FACTS

MaRS provides advisory services to entrepreneurs – from market intelligence and financing, to partnership building, sales and PR advice – through its team of Venture Group advisors.