IRV (Innovobot Resonance Ventures), the venture capital arm of Innovobot, today announced active Memoranda of Understanding (MOUs) with Concordia University, TransferTech Sherbrooke (the technology transfer organization for Université de Sherbrooke), University of Manitoba, McMaster University, and the University of Saskatchewan: building on its longstanding partnership with McGill University. More partnerships are on the way.
The most consequential companies of the next decade won’t emerge from another software pivot. They’ll come from laboratories: from researchers solving problems most investors haven’t even heard of yet. That’s exactly where IRV is planting its flag.
Why university spinouts?
University spinouts are becoming a defining force in venture capital, and Canada has been quietly punching above its weight: since 2010, U15 Canada universities and affiliated research hospitals have launched over 1,100 research-based startups, including nearly 120 in 2023 alone, and that year, McGill University launched more research-based startups than any other university in North America (U15 Canada, Driving Innovation, February 2025).
The talent and the drive are here. What’s missing is early-stage capital, a gap that has been widening since 2021. Mark Weber, Director of Intellectual Property and Licensing at Innovobot, has spent years in the ecosystem and seen the realities of university spinouts firsthand. “Too many great inventions with enthusiastic founders have never seen their startups get a real chance to succeed due to the lack of funding and mentorship that are so critical at an early juncture,” he said.
What IRV brings
“Some of the most exciting deep tech being built today starts in a university lab, and too often, it never makes it out,”
“IRV was built for exactly this gap: we come in early, we understand the technology, and we bring more than capital: founder DNA, in-house engineering expertise, and deep industry connections that help founders become market leaders. These partnerships are a natural part of how we operate, and we’re proud to be building them with some of Canada’s leading institutions.”
These MOUs are active pipelines, not symbolic gestures. They connect IRV with researchers and founding teams at the earliest stages and give founders a partner who understands both deep tech and the university ecosystem: one who can provide mentorship and capital when it’s needed most.
The proof is already in the portfolio: companies such as CarbiCrete (McGill), EcofilterTek, and Oneka Technologies (both Université de Sherbrooke/TTS) reflect the kind of deep-tech spinouts IRV backs across Canada’s research ecosystem: built on years of rigorous research and real-world problem-solving, and now ready to scale.
If you’re a researcher or founding team at a Canadian university, we’d love to connect.
About IRV
IRV is the venture capital arm of Innovobot, dedicated to investing in early-stage deep-tech startups. Innovobot Labs is the platform’s innovation studio, tackling pressing problems through the development and application of cutting-edge technologies. With expertise spanning robotics, AI, IoT, human-machine interfaces, advanced materials, and photonics, the Labs collaborate with companies ranging from startups to Fortune 500 leaders.
Deep tech is our domain. We know how to evaluate transformative technologies, identify category-defining companies, and, most importantly, back and support the winners. The next era of innovation won’t come from another horizontal SaaS platform; it will come from deep-tech pioneers, and we’re here to back them.
About McGill University
Founded in Montreal, Quebec, in 1821, McGill University is Canada’s top ranked medical doctoral university. McGill is consistently ranked as one of the top universities, both nationally and internationally. It is a world-renowned institution of higher learning with research activities spanning three campuses, 11 faculties, 13 professional schools, 300 programs of study and over 39,000 students, including more than 10,400 graduate students. McGill attracts students from over 150 countries around the world, its 12,000 international students making up 30% of the student body. Over half of McGill students claim a first language other than English, including approximately 20% of our students who say French is their mother tongue.
About Concordia University
As a next-generation university, Concordia reimagines the future of higher education. Its innovative approach to experiential learning and cross-functional research benefits its 50,000 students. Located in vibrant Montreal on the traditional lands of the Kanien’kehá:ka Nation, Concordia has consistently ranked as a top young university in North America. The university strives to be socially responsible and create a more equitable and sustainable world.
About TransferTech Sherbrooke
TransferTech Sherbrooke is the technology transfer and commercialization office of the Université de Sherbrooke. It serves as a catalyst for innovation, helping researchers and entrepreneurs transform scientific discoveries into successful products, companies, and partnerships. Through intellectual property management, technology licensing, industry collaboration, startup support, and access to investment networks, TransferTech Sherbrooke accelerates the journey from research breakthrough to real-world impact.
About McMaster University
McMaster University is one of Canada’s leading research-intensive institutions, recognized for translating world-class discoveries into real-world impact. With strengths spanning health sciences, engineering, advanced materials, and clean technologies, McMaster is increasingly a hub for deep-tech and research-driven startups. The University has built strong momentum in venture creation through initiatives such as the McMaster Seed Fund, dedicated entrepreneurship programs, and integrated supports that help researchers and students move ideas from lab to market. By combining cutting-edge research with a growing ecosystem of mentorship, commercialization expertise, and early-stage funding, McMaster is actively advancing a new generation of high-impact ventures and strengthening its role as a catalyst for innovation in Canada and beyond.
About the University of Manitoba
The University of Manitoba is Western Canada’s first university and Manitoba’s largest research-intensive post-secondary institution. Founded in 1877, the University is committed to excellence in teaching, research, and community engagement. With nearly 32,000 students across undergraduate, graduate, and professional programs, the University of Manitoba fosters innovation, interdisciplinary collaboration, and experiential learning to address local and global challenges. Through partnerships with industry, government, Indigenous communities, and organizations around the world, the university advances knowledge, drives economic and social development, and prepares the next generation of leaders to make a positive impact in their communities and beyond.
About the University of Saskatchewan
The University of Saskatchewan (USask) is located in Saskatoon, Sask., on Treaty 6 territory and the traditional homeland of the Métis. Research, teaching and learning at USask are enhanced by its array of world-class centres and facilities. A range of excellent programs, from business, law and public policy to engineering, agriculture, medicine and veterinary medicine, positions USask to bring unique perspectives to key global challenges. With nearly 27,000 students from around the globe, including nearly 3,400 Indigenous students, our strong community and well-recognized experts will continue to drive USask to be the university the world needs.
Sources: U15 Canada, Driving Innovation – Canada’s Leading Research Universities and the Path to Home-Grown Prosperity (u15.ca), February 2025.
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Media contact
Constance Jaluzot — Marketing Manager