The MaRS Discovery District is where Canadian innovation lives. Founded in 2000 and opened in 2005 on the site of the old Toronto General Hospital—where insulin was first clinically tested—MaRS has become North America's largest urban innovation hub. It has helped ventures raise over 19 billion CAD, supported two unicorns (Wealthsimple and Trulioo), and was the original home of the Vector Institute for Artificial Intelligence.
This is the complete guide to MaRS Discovery District—its history, its AI ecosystem, how to engage with its programs, and why it remains central to Toronto's position as a global AI capital.
What Is MaRS Discovery District?
MaRS Discovery District is a non-profit urban innovation hub dedicated to helping Canadian science and technology companies succeed.
MaRS at a Glance
Key Milestones
Who Founded MaRS Discovery District?
Dr. John Evans
Dr. John Robert Evans (1929-2015) was a Canadian cardiologist, academic, businessperson, and civic leader who founded MaRS in 2000.
The Founding Vision
The idea for MaRS came from a specific problem Evans encountered:
When searching for downtown research space for NPS (a biotech company), Evans realized Canada had world-class research but lacked infrastructure to commercialize it. This catalyzed the creation of MaRS.
At the time, Canada was famous for its biotech research, but innovators struggled to get their solutions out of the lab and into the hands of patients.
Evans' Legacy
After Evans' death in 2015, his family donated 10 million CAD to MaRS to create the MaRS Solutions Lab.
What Are MaRS's Programs?
MaRS offers multiple programs to support startups at different stages.
Capital Program (Flagship)
MaRS's flagship program selects Canada's top 20-30 high-potential startups annually.
Sectors Covered
"We largely look for companies that we feel have the most likely potential of becoming an anchor company in the economy. The goal is to help high-potential companies stay in Canada."
MaRS IAF (Investment Accelerator Fund)
MaRS IAF is one of Canada's top seed-stage venture funds.
Momentum Program
For companies scaling toward 100 million CAD in revenue.
International Programs
What Companies Are at MaRS?
MaRS hosts and supports companies across the innovation spectrum.
Unicorns
MaRS has produced two unicorns (1B+ USD valuation):
Wealthsimple
Trulioo
Other Notable Companies
Portfolio Statistics
What Is MaRS's Role in Toronto AI?
MaRS has been central to Toronto's emergence as a global AI hub.
Vector Institute Connection
The Vector Institute, Canada's premier AI research organization, was originally housed at MaRS.
MaRS and AI Infrastructure
AI Companies at MaRS
"Frontiers of AI" Event
MaRS, the University of Toronto, and the Vector Institute jointly present "Frontiers of AI"—a day of programming that bridges cutting-edge research with real-world impact.
"Frontiers of AI unites three institutions that helped make Toronto a global AI hub—bridging cutting-edge research with real-world impact."
Where Is MaRS Located?
The MaRS Centre
Location Advantages
MaRS West Tower Tenants
The MaRS West Tower hosts:
- 50+ startups
- PayPal offices
- Autodesk offices
- (Previously) Vector Institute
Who Leads MaRS?
Current Leadership
Grace Lee Reynolds (CEO)
Grace Lee Reynolds was appointed interim CEO in December 2024 and made permanent CEO in February 2025.
"Over the past 25 years, MaRS has built a platform that people admire and rely on. The work we do with ventures, our strong public-private partnerships, and the power of our community and place are among our greatest strengths."
Leadership Priorities
Board of Directors
Recent additions (February 2025):
- Helen Angus - New board member
- Andrew Joyner - New board member
How Can Startups Engage with MaRS?
Program Selection Guide
Eligibility Criteria
Capital Program
MaRS IAF
Getting Started
What Is MaRS's Impact?
Cumulative Impact (2010-2024)
Annual Impact
Broader Ecosystem Contribution
Frequently Asked Questions
What is MaRS Discovery District?
MaRS Discovery District is North America's largest urban innovation hub, founded in Toronto in 2000 by Dr. John Evans. Located at 101 College Street in 1.5 million square feet of space, MaRS supports over 1,200 science and technology companies. Since 2010, MaRS-supported ventures have raised 19B+ CAD in funding, generated 11.5B CAD in revenue, and created 33,000+ jobs. The hub has produced two unicorns (Wealthsimple and Trulioo) and receives 13% of all Canadian venture capital.
Who founded MaRS?
MaRS was founded by Dr. John Robert Evans (1929-2015), a Canadian cardiologist and civic leader. Evans was previously President of the University of Toronto (1972-1978), founding Dean of McMaster's medical school, founding Chair of the Canada Foundation for Innovation, and the first Canadian to chair the Rockefeller Foundation. He founded MaRS in 2000 to commercialize Canadian research and served as the first Board Chair for 10 years.
What programs does MaRS offer?
MaRS offers several programs: The Capital Program (flagship) selects 20-30 high-potential startups annually in AI, Defence, Enterprise, Climate, Health, and EdTech—fully subsidized by federal/provincial funding. MaRS IAF (Investment Accelerator Fund) is a seed-stage venture fund for Ontario founders. The Momentum Program supports companies scaling toward 100M+ CAD revenue. MaRS also partners with Innovate UK on the IUK AI Programme for UK companies expanding to Canada.
What unicorns has MaRS produced?
MaRS has produced two unicorns: Wealthsimple (4B USD valuation, investment/banking platform) and Trulioo (1B+ USD valuation, identity verification, reached unicorn status in 2021). Other notable MaRS companies include ecobee (smart thermostats), Mogo (fintech), and many AI and health tech startups. MaRS portfolio companies have achieved 14 IPOs and 63 acquisitions.
What is MaRS's connection to the Vector Institute?
The Vector Institute for Artificial Intelligence was launched at MaRS Discovery District in March 2017 and operated from the MaRS West Tower until 2024. Vector and MaRS co-present "Frontiers of AI" programming with the University of Toronto. In 2024, Vector moved to the new Schwartz Reisman Innovation Center, but MaRS continues to be a major AI hub supporting AI startups through its Capital Program and ecosystem.
Who is the CEO of MaRS?
Grace Lee Reynolds became CEO of MaRS in February 2025 (initially appointed interim CEO in December 2024). She has been at MaRS since 2011, previously serving as CFO and President of MaRS Discovery Enterprises. She has nearly 30 years of experience in public, private, and philanthropic sectors and was instrumental in developing MaRS's 1.5-million-square-foot centre.
Where is MaRS located?
MaRS Discovery District is located at 101 College Street, Toronto, Ontario in the heart of the Discovery District. The 1.5-million-square-foot complex is built on the site of the old Toronto General Hospital—where insulin was first clinically tested and heparin was discovered. It's adjacent to the University of Toronto campus and near major teaching hospitals, with the Queen's Park subway station nearby.
How can startups apply to MaRS?
Startups can apply to MaRS programs through marsdd.com/startups. The Capital Program seeks companies with unicorn or centaur potential in AI, Defence, Enterprise, Climate, Health, or EdTech. MaRS IAF accepts applications from Ontario-based founders at pre-seed/seed stage. Companies should review eligibility criteria, apply online, and engage with MaRS events and programming to become part of the ecosystem.
Related Reading
Toronto AI Ecosystem
- Vector Institute Complete Guide — AI research institute
- Toronto AI Ecosystem Guide — The city's AI landscape
- Creative Destruction Lab Guide — Deep tech accelerator
Canadian AI Leaders
- Geoffrey Hinton Complete Guide — Deep learning pioneer
- Raquel Urtasun Profile — Waabi founder
- Sanja Fidler Profile — NVIDIA AI VP
Canadian AI Companies
- Cohere Complete Guide — Enterprise LLM unicorn
- Canadian AI Unicorns — Billion-dollar companies
- Ada AI Customer Service Guide — Toronto unicorn
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Data current as of January 2026. Information from MaRS Discovery District, Globe and Mail, BetaKit, Tracxn, and company announcements.
