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January 23, 2026
Toronto, ON – Mitacs and RiSC Capital signed a Memorandum of Understanding (MOU) in Toronto today, marking a milestone that strengthens Ontario’s innovation ecosystem by boosting access to commercialization support and research talent towards deep-tech ventures.
The signing event – attended by Dr. Stephen Lucas, CEO, Mitacs, and Scott Pelton, Co-Founder, RiSC Capital – represents Mitacs’ inaugural partnership agreement with a venture capital firm. The collaboration reflects mutual interest in accelerating pathways from research to market impact and building scalable technologies, addressing systemic gaps in deep tech investment.
Through this first-of-its-kind agreement, Mitacs and RiSC Capital will jointly support Ontario innovation ecosystem, including co-hosted capacity-building events, joint visibility initiatives, and knowledge building to strengthen Ontario’s innovation ecosystems and economic resilience.
Mitacs’ model bridges academia and industry to fast-track research-to-market pathways — accelerating R&D, de-risking innovation, and supporting the skilled workforce of tomorrow through co-funded internships for students and postdoctoral fellows.
RiSC Capital is a premier deep tech venture capital fund committed to fostering the growth of groundbreaking Canadian companies by investing in seed-stage and advanced technology ventures. The firm provides financial support and strategic guidance to empower entrepreneurs and contribute to Canada’s leadership in technology development.
Through its recently announced strategic plan, Mitacs is committed to key pillars of innovation: supporting the journey to commercial success, driving connections and collaboration, and delivering measurable impact for the economy, workforce, and society.
The three-year collaboration between Mitacs and RiSC Capital will ensure long-term alignment on advancing Ontario’s innovation capacity, boosting economic growth and global competitiveness.
Today’s announcement builds on a series of recently signed Mitacs MOUs that strengthen innovation across Ontario’s ecosystem including agreements with IPON, MaRS, OBIO®, and eCampus Ontario.
Quotes
“Mitacs is committed to supporting Ontario’s innovation ecosystem, ensuring that innovators, entrepreneurs, and businesses have seamless access to commercialization support and top-tier research talent. This new agreement with RiSC Capital is an important example of how academic-industry collaboration can bolster R&D, accelerating pathways from research to market impact, building scalable technologies, and addressing systemic gaps in deep tech investment.”
Dr. Stephen Lucas, CEO, Mitacs
“Mitacs is a powerful partner for RiSC as we help deep tech founders translate world-class research into scalable companies. RiSC pioneered Canada’s first dedicated deep tech venture fund, and we’re continuing to innovate at the earliest stages of deep tech in Canada. This partnership with Mitacs turbocharges our ability to support exceptional scientific and technical founders as they build and scale.”
Scott Pelton, Co-founder, RisC Capital
About Mitacs
For over 25 years, Mitacs has helped grow the economy and develop the workforce of tomorrow, connecting industry with academia and global partners to solve real-world challenges. We support business-academic research collaboration through internships, co-funded with businesses, for undergraduate to graduate students and post-doctoral fellows.
As a national innovation connector, Mitacs takes a talent-first approach to strengthen innovation capacity and drive global competitiveness. We serve as an essential research-commercialization bridge, accelerating market entry and growth for new products and services.
Mitacs is funded by the Government of Canada, the Government of Alberta, the Government of British Columbia, Research Manitoba, the Government of New Brunswick, the Government of Newfoundland and Labrador, the Government of Nova Scotia, the Government of Ontario, Innovation PEI, the Government of Quebec, the Government of Saskatchewan, and the Government of Yukon.
About RiSC
RiSC Capital is a Canadian venture capital firm investing in early-stage Canadian deep technology private companies. They back ambitious technical founders building breakthrough technologies that solve real-world problems and create long-term value. RiSC Capital launched Canada’s first dedicated deep tech venture fund in April 2020 and continues to support founders with seed-stage capital, strategic guidance, and access to an experienced network across Canada’s innovation ecosystem. Learn more at risc.capital.
For further information, please contact:
Caroline Dobuzinskis
Manager, Communications & Public Affairs
Mitacs
[email protected] | 236-334-3863
Ziona Eyob
Senior Communications & Public Affairs Specialist
Mitacs
About Mitacs
For over 25 years, Mitacs has helped grow the economy and develop the workforce of tomorrow, connecting industry with academia and global partners to solve real-world challenges. We support business-academic research collaboration through internships, co-funded with businesses, for undergraduate to graduate students and post-doctoral fellows.
As a national innovation connector, Mitacs takes a talent-first approach to strengthen innovation capacity and drive global competitiveness. We serve as an essential research-commercialization bridge, accelerating market entry and growth for new products and services.
Mitacs is funded by the Government of Canada, the Government of Alberta, the Government of British Columbia, Research Manitoba, the Government of New Brunswick, the Government of Newfoundland and Labrador, the Government of Nova Scotia, the Government of Ontario, Innovation PEI, the Government of Quebec, the Government of Saskatchewan, and the Government of Yukon.
About RiSC
RiSC Capital is a Canadian venture capital firm investing in early-stage Canadian deep technology private companies. They back ambitious technical founders building breakthrough technologies that solve real-world problems and create long-term value. RiSC Capital launched Canada’s first dedicated deep tech venture fund in April 2020 and continues to support founders with seed-stage capital, strategic guidance, and access to an experienced network across Canada’s innovation ecosystem. Learn more at risc.capital.
For further information, please contact:
Caroline Dobuzinskis
Manager, Communications & Public Affairs
Mitacs
[email protected] | 236-334-3863
Ziona Eyob
Senior Communications & Public Affairs Specialist
Mitacs
January 21, 2026
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