The MaRS Equation
MaRS supports startups and their founders. We believe their success is good for Canada and the world, so we also work to find ways of accelerating the adoption of key new technologies, and we look for ways to magnify the positive impact in our focus areas of environment, health and the economy. As a charity, we encourage our successful entrepreneurs to give back to further energize the Canadian economy, and the use of philanthropic dollars to further our mission.
The MaRS charity supports startups, tech adoption and impact. Our real estate division, MaRS Innovation Hubs, supports the mission by creating amazing communities with a broad range of tech and science players. And MaRS IAF is our VC arm, supporting startups as one of Canada’s most active seed-stage investors.
The MaRS Equation
MaRS-supported companies cumulative capital raised since 2010
MaRS-supported companies’ GDP contribution from 2010-2021
MaRS-supported companies’ cumulative revenue since 2010
Empowering innovators and startups to tackle tomorrow’s challenges
Built on the site where insulin was first administered to a diabetic patient, MaRS was founded in 2000 by Dr. John Evans and a group of 12 civic leaders with a dream of turning innovative ideas into action. They donated $14 million and rallied further support from government, corporations and the University of Toronto to create MaRS.
Dr. Evans founded MaRS because he wanted innovation to thrive here in Canada. He envisioned commercializing the groundbreaking research from our world-class institutions for the benefit of all Canadians. Over time, this commitment to propel innovation has expanded to additional critical social issues, all with the aim of fostering an inclusive economy, creating social and economic impact and solving real problems for real people — in Canada and around the world.
The MaRS Centre opened in 2005 and is now home to a curated mix of startups, global corporations and leading research labs. To meet demand from Toronto’s burgeoning tech ecosystem, MaRS opened its West Tower expansion in 2014, doubling the building’s size. And in 2023 we grew again, partnering with U of T and Menkes on a new space for scaling startups on the city’s waterfront
Today, as North America’s largest innovation hub and a registered charity, MaRS has cultivated a vibrant and diverse community of innovators including over 1,200 startups, 120 tenants, and leading global tech companies. Our facilities feature cutting-edge research labs and span across 1.5 million square feet of space at both the MaRS Centre and MaRS Waterfront where we continue to support startups succeed in tackling the world’s toughest challenges in climate, health, and the economy.
Our purpose is to help innovators create a better world
Leading with Vision: The MaRS Leadership Team
Steering MaRS’ Success
Vision
MaRS is the engine for Canada to lead in the innovation economy
Mission
Drive positive global impact as the partner of choice for entrepreneurs and the innovation community
Values
Results-driven
We hold each other accountable to deliver meaningful outcomes to our stakeholders.
Boldness
We set ambitious goals and relentlessly pursue them with urgency.
Intellectual honesty
We listen with curiosity and speak with integrity.
We before me
We put collective impact first.
Respect
We foster a diverse and inclusive workplace, embracing all with care and consideration.
Driving the new economy
At MaRS, we believe innovation should be more than just a buzzword. We turn it into action by fostering a purpose-driving ecosystem where science and technology innovators, donors, investors, and partners collaborate on real solutions to critical world problems. Together, we spur adoption of these solutions in Canada and around the world.
This collaborative approach delivers a strong return on investment for taxpayers:
Funding: MaRS Discovery District receives funding from the Province of Ontario and the Government of Canada to achieve its programming objectives and, in addition to these core funders, MaRS applies charitable donations to further its purpose and mission.
Economic Impact: The success speaks for itself. Since 2010 MaRS-supported ventures have created over 33,000 jobs (2022), generated $11.5 billion in cumulative revenue and raised $19 billion in capital. Their contribution to Canada’s GDP (2010 to 2021) is a astonishing $29.6 billion.
MaRS is the anchor of Ontario’s tech ecosystem: Our world-leading programs cultivate a pipeline of innovative, IP-rich companies, generating significant economic impact across the province. MaRS-supported ventures boast a 20.7% annualized revenue growth rate, exceeding Ontario’s GDP growth tenfold. Since 2012, they’ve contributed $29.6 billion to the province’s GDP and $7.5 billion in tax revenue.
We foster a thriving entrepreneurial environment: Nearly half of MaRS-supported founders are experienced entrepreneurs. Many companies have secured Series B funding and beyond, expanded internationally, and grown their teams rapidly. A new cohort of “Momentum Ventures” has emerged, with the potential to reach $100 million in revenue within the next five years.
In short, MaRS is a powerful engine driving Canadian innovation and economic prosperity.
The MaRS leadership team:
Annette Verschuren
Chair, Board of Directors, MaRS Discovery District; Chair & CEO, NRStor Inc.

Andrew Chisholm
Corporate Director, Royal Bank of Canada

Meric Gertler
President of the University of Toronto

Diane Kazarian

Stefan Larson
Partner, Sectoral Asset Management

Allen Lau
CEO and co-founder, Wattpad

Geoffrey Matus
President of Mandukwe Inc., Toronto

Claudette McGowan
CEO, Protexxa

Prashant Pathak
CEO, Ekagrata; Principal, In Colour Capital Inc.

Taki Sarantakis

Molly Shoichet
Professor, Shoichet Lab, University of Toronto

Calvin R. Stiller
Director Emeritus, Board of Directors, MaRS Discovery District; Professor Emeritus, University of Western Ontario

RECENT RESULTS