Welcome to SpinUp’s inaugural annual report, celebrating a landmark year of growth, innovation, and collaboration. Since its launch, SpinUp has emerged as a unique incubator dedicated to nurturing early-stage biotech startups. Through our founder-friendly incubation model and access to the University’s vast network, we fill a critical gap in our innovation ecosystem and drive forward the health and life sciences sector and beyond. 

2024 has been one of exciting beginnings. Since May, we’ve welcomed 15 early-stage startups to our state-of-the-art facilities in UTM’s new Science Building. Our Blue Ticket Program was launched, enabled by the generous support of our partners, to recognize and accelerate startups with high potential via funding and strategic guidance. It is already proving to be a game-changer for biotech innovators. In the summer, we launched our entrepreneurship programming curriculum. In the fall, we co-hosted our first pitch competition. And this is just the beginning for SpinUp. 

Each startup we incubate brings passion, groundbreaking ideas, and a drive to address some of our most pressing healthcare and societal challenges. It is inspiring to witness their passion and perseverance, and I look forward to seeing their innovations reach society in the years ahead. Our mission is simple: to empower these innovators with the resources, programming, and ecosystem connections necessary to thrive – and to do so in a way that addresses the challenges many early-stage startups face.  

To enable our startups to focus their resources on developing and refining their IP, we offer lab space and equipment at highly subsidized rates, along with building amenities, full lab operational support, and discounts through our lab supplier partners, and so much more. We are committed to building a collaborative community where entrepreneurs, researchers, trainees, ecosystem partners, and industry leaders can work together to bring solutions from lab to market. This community is already well underway. Our startups have created experiential opportunities for University students via internships, work-study terms, and our INSPIRE program. They are also exploring collaborative projects with U of T researchers.  

Our team is dedicated to ensuring that SpinUp becomes a leading launchpad for biotech, cleantech, and chemistry innovation, and we are grateful for the support of our University colleagues, our network of partners, and the community that has rallied around our mission. Thank you for joining us on this journey. 

I invite you to read about the progress we’ve made and the accomplishments we’re proud of.  

Here’s to an impactful first year – and an even brighter future ahead. 

Raquel De Souza, PhD 

Director, Partnerships & Innovation | Director, SpinUp 


Geneviève Groulx

Meet our cover artist! Geneviève Groulx’s vibrant design celebrates the groundbreaking research, discoveries, and innovations emerging from the SpinUp lab. Geneviève is a talented Medical and Scientific Designer and a recent graduate of the Master in Science Biomedical Communications program here at UTM. 

Want to learn more about her work? View her portfolio at genevievegroulx.com