“At a research-focused university like U of T, there are many projects in our labs that have the potential to be commercialized,” says Jon French, Director of University of Toronto Entrepreneurship (UTE). “They just need initial support to bridge the gap between lab-based innovation and investment-ready ventures that can have a broader social and economic impact.”
Ranked among the world’s top five university-based incubators, U of T has helped entrepreneurs from its research ecosystem raise more than $14 billion in funding for over 1,500 venture-backed companies. Through more than a dozen startup accelerators, the university attracts emerging entrepreneurs with the talent and drive to turn creative insights into profitable outcomes that benefit the overall economy.
What differentiates U of T from other innovation hubs is the support available to ventures at the earliest stages, before they’re ready to seek financing from outside investors. This initial support includes endowed gifts to the university from donors who appreciate the challenges – and potential – of transforming groundbreaking discoveries into viable businesses. A prime example, announced in September 2025, is the Eva and Allen Lau Commercialization Catalyst Prize for Computing & Engineering Innovation.
Investing in promise
Funded by a $2-million endowed gift, the Lau Catalyst Prize provides graduate students, postdoctoral researchers and faculty members with the initial financing to develop early-stage concepts into promising solutions that merit investor support.
The annual prize will have its impact doubled by matching funds from the Faculty of Arts & Science and the Faculty of Applied Science & Engineering.
Every year, a team from each faculty will receive funding for a startup idea focused on technology and material innovations in computing – particularly the development of semiconductors, AI, robotics and quantum technologies. The prize money will support mentorship for the winning team, as well as access to workspace and prototyping labs.
Turning ideas into impact
Prize donors Eva and Allen Lau are widely admired entrepreneurs who made their mark with Wattpad, the social storytelling platform (which Allen co-founded). They’re now partners in Two Small Fish Ventures, an early-stage venture capital firm focused on advanced computing. Both are also alumni of U of T.
Eva, who has a bachelor’s degree in industrial engineering, is on the steering committee of the university’s Defy Gravity campaign and advocates for the next generation of innovators at U of T. Allen, who earned bachelor’s and master’s degrees in electrical engineering, was inducted into the U of T Engineering Alumni Hall of Distinction in 2020 for his contributions to the university and to technological innovation generally.
“We’re thrilled to launch this new prize to support talented U of T students and faculty in commercializing transformative ideas in next-frontier computing,” the Laus said. “The university’s research capacity, strong networks and culture of risk-taking for the benefit of society make it an ideal place for aspiring entrepreneurs to turn bold ideas into world-class companies.”
“Eva and Allen are longstanding champions of entrepreneurship at the university,” says Jon French of UTE. “They’re also proud Canadians who want to keep more homegrown technology, talent and IP in this country. With this new prize helping to bridge that initial funding gap, high- potential projects will be able to move on through our additional tiers of support to become attractive investment opportunities. And because the prize is funded by an endowed gift, it will sustain and support further projects for years to come.”
The endowment fund that generates ongoing financial support for the Eva and Allen Lau Commercialization Catalyst Prize for Computing & Engineering Innovation is among more than 7,500 individual funds within the Endowment portfolio managed by UTAM.*
* The “Endowment portfolio” managed by UTAM – also called the Long-Term Capital Appreciation Pool – comprises the university’s endowment funds plus other investment assets. As of April 30, 2025, U of T’s fiscal year-end, the total value of the Endowment portfolio was $4.8 billion, including $3.9 billion of endowment funds plus $0.9 billion of other long-term assets. (At UTAM’s year-end – December 31, 2025 – the Endowment portfolio was valued at $5.4 billion.)
