Sagid Delgado, Samuel Pichardo and Laura Curiel founded NovusTX Devices in March 2020. Photo Credit: Riley Brandt photos, University of Calgary
In just four years, UCeed has established itself as a unique and dynamic contributor within the Canadian innovation ecosystem. No other fund of this scale in Canada combines philanthropic support with a mandate to accelerate research and foster entrepreneurship in the community. Since launching in 2020, UCeed has invested $9.21 million across its portfolio of 62 companies, making UCeed one of the most active pre-seed investors in Canada as noted by the Canadian Venture Capital and Private Equity Association.
"UCeed-supported startups have already created a powerful multiplier effect," says UCalgary President Ed McCauley. "These companies have generated economic activity and created jobs while changing lives with their innovations."
With six specialized funds: Child Health & Wellness, Energy, Health, Neuro, Social Impact and the Haskayne Student Fund, UCeed bridges the critical funding gap that exists between early stage research and market readiness. Each fund is tailored to support startups tackling unique challenges, from health to social entrepreneurship.
"UCeed offers not only financing, but also mentorship, networks and community," says Peter Santosham, MBA'06, Executive Director, UCeed, Innovate Calgary. "The companies in our portfolio are advancing game-changing solutions, generating 337 jobs in the past four years, and building a cadre of people with invaluable experience gained within thriving startups."
An Investment Advisory Committee (IAG) oversees each fund to ensure impactful investment decisions. The Haskayne Student Fund is a unique fund within UCeed, with students working to select the investments for consideration by their IAG. Over the past four years, 183 students have engaged in real-world entrepreneurial learning through UCeed, gaining insights into startup financing and investment evaluation.
First investments for UCeed Neuro Fund
Launched in November 2023, UCeed Neuro Fund supports seed-stage neuroscience ventures advancing solutions for pressing health issues. Calgary-based NovusTX Devices, a company developing and commercializing a system to map and address brain disorders with personalized, non-invasive brain stimulation, was one of the first investments from the fund. The founders, Dr. Samuel Pichardo, PhD, Dr. Laura Curiel, PhD, and Dr. Sagid Delgado, all researchers based at UCalgary, are driven to create therapeutic treatments for movement disorders such as Parkinson's disease, dystonia. and essential tremor, which affect more than 10 million people worldwide.
"We're thankful for the diverse range of support that has fueled UCeed over the past four years - from committed donors to skilled investment advisors and ecosystem collaborators," says UCalgary's Vice-President, Development and Alumni, Andrea Morris. "The philanthropic foundation of UCeed's investment capital has created an incredible, evergreen funding source that helps researchers like UCalgary-based NovusTX, become innovators."
UCeed is part of UCalgary's broader commitment to building an innovation ecosystem that includes Innovate Calgary, the Life Sciences Innovation Hub, Social Innovation Hub, the Energy Transition Centre, the Hunter Hub for Entrepreneurial Thinking, Ward of the 21st Century, IMPACT, and Creative Destruction Lab - Rockies, among others.
The 2024 UCeed Momentum report offers an in-depth look at each fund's accomplishments and UCeed's growing impact on Alberta's economy and innovation landscape.
