Great-West Life announced Feb. 15 that it will contribute $300,000 over three years to the Creative Destruction Lab – Toronto (CDL), which is located at the University of Toronto's Rotman School of Management. The lab works with technology startups with the potential to deliver improvements to economic productivity and human well-being.
"With Creative Destruction Lab, we're looking to foster the next great innovations in health and financial technology," said Ben Harrison, Vice-President, Innovation, Great-West Life. "Our industry is changing, and we want to be at the table with disruptive entrepreneurs helping scale their businesses and learning from their ingenuity. We're looking for creative ideas and partnership opportunities with the potential to transform how we do business and improve the financial, physical and mental well-being of Canadians."
Access to venture capital firms
The lab’s nine-month program gives entrepreneurs access to experienced industry mentors, business development support from top Rotman business students, and funding opportunities with venture capital firms.
"At the Creative Destruction Lab, we are privileged to work with many innovative leaders across different industries such as financial technology," said Sonia Sennik, Executive Director of CDL-Global. "Great-West Life is enthusiastic to collaborate with our ventures in pursuit of innovative breakthroughs for their company and customers. We are excited to have their support."