Innovation Mining Selected by Distinguished Global Accelerator Program - CDL
- duane nelson
- Sep 19, 2024
- 3 min read
Vancouver, BC – Sept 19, 2024 — Innovation Mining, a Vancouver-based clean-tech company, is is delighted to announce its selection as a candidate by Creative Destruction Labs (CDL) at UBC’s Sauder School of Business. CDL is a renowned global startup program for seed-stage, science-based companies. Founded by the Rotman School of Management at the University of Toronto, CDL now operates in 12 universities worldwide, including five in Canada, and is recognized as a global leader in research and teaching excellence. The program has generated over $32 billion in equity value for its participants across twenty streams, including AI, climate, fintech, energy, biotech, health, minerals, quantum, and space.
CDL employs an objectives-based mentoring process, involving a select group of accomplished entrepreneurs, angel investors, economists, and scientists. Companies are admitted through a competitive application process and, if accepted, engage in a nine-month program designed to develop massively scalable technology startups. Founded in 2012 by Rotman School of Management professor Ajay Agrawal, CDL has grown significantly. It now features 23 focus areas, or CDL Streams, ranging from AI to Cancer, and from Climate to Space.
Rationale
The initial goal of Creative Destruction Labs (CDL) was to enhance Canada’s role in commercializing academic inventions through entrepreneurship. Founder Professor Ajay Agrawal, during his Ph.D. research at the University of British Columbia and MIT, explored the difficulties in commercializing intellectual property from universities. The core idea of the CDL program is that the main reason for the gap between regional scientific excellence and entrepreneurial success is a failure in the market for judgment. This concept involves experienced entrepreneurs, who possess valuable knowledge, guiding and setting priorities for less experienced entrepreneurs who lack this knowledge but need it to succeed. Essentially, seasoned entrepreneurs share their expertise to help new entrepreneurs establish crucial goals and objectives.
Who are the CDL Mentors?
Mentors are the backbone of the Creative Destruction Lab program because they provide expert guidance for early-stage technology companies to grow and improve their probability of success. CDL brings together over 1,000 experienced accomplished entrepreneurs, world-class scientists, and active investors (VCs and angels) with early-stage technology startups to help guide companies. CDL measures success through equity value creation. Upon its founding, CDL set a goal of generating $50 million in equity value created by the graduates of the program within five years. Today, companies participating in CDL have generated over $32 billion in equity value.
The program is also supported by its Strategic Advisory Board, which meets twice a year and includes representatives from all CDL sites and stakeholder groups. This board advises CDL leadership on program strategy and evaluates performance across all sites. CDL has pioneered a new approach to research and innovation, fostering an entrepreneurial mindset through expert guidance, funding opportunities, research analysis, and business development support.
Each CDL site operates through a respective post-secondary institution. World-leading academics provide insights on the economic impact of new technologies as well as provide exclusive training and educational opportunities through CDL conferences. In addition, universities help to shape CDL industry streams of focus based on the systems of expertise available at their institution. Current CDL locations include Canada, United States Australia, Germany, France, and Estonia.
CDL’s Mission
Creative Destruction Labs (CDL) achieves its mission by guiding start-up founders in prioritizing tasks to efficiently and effectively mitigate risks and maximize their chances of success. Additionally, CDL offers a unique approach to business education that blends economic theory with hands-on learning to foster an entrepreneurial mindset, characterized by the relentless pursuit of opportunities regardless of current resource constraints. CDL inspires founders, students, and mentors, boosts labor productivity by transitioning new innovations from the lab to the market and enhances job opportunities for students at the universities hosting CDL sites.
Duane Nelson, CEO of Innovation Mining, expressed his gratitude by stating, “We are honored to be invited to be a part of this prestigious and unique program. CDL and its mentors will help us gain a razor-sharp focus on our goals and objectives, and help us to secure the necessary academic, industry, scientific, and financial partners to advance our valuable technology to commercial production.”
About Innovation Mining
Innovation Mining is a clean-tech, small scale mining technology innovator. The Company is developing a patent pending, environmentally friendly, and non-cyanide-based chemical formula for the extraction of precious metals. Currently over 90% of gold (EST $210B) is produced annually using cyanide. Innovation’s unique water-based formula is powerful, safe, reusable, and potentially offers a cost-effective and sustainable alternative to cyanide for whole ores, concentrates and tailings. The company is led by a seasoned and proven team of executives, engineers, geologists, and scientists and is committed to helping extract mineral resources in an environmentally friendly manner.
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