Creative Destruction Lab (CDL), an objectives-based program for massively scalable science- and tech-based companies, is partnering with the Georgia Tech Scheller College of Business for its next North American location, CDL-Atlanta.
The Georgia Institute of Technology, also known as Georgia Tech, is one of the world’s leading research universities, globally recognized for its expertise in innovation and technology.
The nine-month CDL program employs an objectives-based mentoring process to enhance the performance of technical founders who learn from the insights of experienced entrepreneurs, with the goal of maximizing equity-value creation. The program combines 4 elements to help companies transition from science projects to scalable and financeable companies:
- Focused mentorship from experienced entrepreneurs who have founded, led, and sold significant tech companies
- Technical advice from world-leading scientists, engineers, and economists, leaders in their respective fields
- Hands-on support from top business students, who embed within the company to provide business support
- Opportunities to raise capital, including angels and VCs from Europe and North America
“We are thrilled to welcome Georgia Tech into the CDL family. They are consistently ranked as one of the top ten engineering departments in the world. This is a significant opportunity for both parties,” said Ajay Agrawal, founder, Creative Destruction Lab and professor, Rotman School of Management, University of Toronto.
Established more than a century ago, Scheller College of Business is Georgia Tech’s globally-ranked business school, strategically positioned at the intersection of business and technology. As a leader in business education and research, Scheller College is grounded in a comprehensive understanding of how ever-evolving advancements in technology affect the way business is conducted around the world.
“What excites us the most about bringing the CDL program to the Scheller College of Business is the ability to combine the research excellence of Georgia Tech with the unique CDL model to scale the next generation of startups operating at the scientific frontier,” said Alex Oettl, associate professor, Georgia Tech Scheller College of Business and CDL-Atlanta co-site lead.
Scheller College of Business Dean Maryam Alavi, added, “We are excited to partner with CDL in their expansion into the United States. As part of a world-renowned research institute, Georgia Tech Scheller College is a business school focused on innovation and technology and the impact evolving technologies have in the global marketplace. CDL offers a unique and proven opportunity for emerging science and technology-based businesses to accelerate their growth and quickly develop from market concept to market impact.”
Founded in 2012 by Professor Ajay Agrawal at the Rotman School of Management at the University of Toronto, the program has now expanded with locations in Oxford, Paris, Vancouver, Calgary, Montreal and Halifax. The successful commercialization of cutting-edge science and technology achieved through the program has led to the creation of over $4.5 billion in equity value.
Applications for CDL-Atlanta will open in April 2020 for start-ups in the United States and beyond. Twenty-five companies will be accepted in the first cohort. CDL-Atlanta will hold four sessions over the course of the program year, culminating in a Super Session which brings to Toronto the most promising ventures from across all CDL sites.
Learn more about the Creative Destruction Lab program here:creativedestructionlab.com.
About Georgia Tech Scheller College of Business
Innovation and technology are at the heart of Scheller College of Business. Incorporating Georgia Tech’s preeminence in innovation and technology with Scheller College’s leading-edge advancements in business and commerce, Scheller employs these exceptional strengths to develop business leaders equipped to leverage technology and create value in any global business setting.
In addition to its globally-ranked Undergraduate, MBA, and PhD programs, Scheller’s portfolio also includes the Business Analytics Center, the Institute for Leadership and Entrepreneurship, the Ray C. Anderson Center for Sustainable Business, TI:GER (Technological Innovation: Generating Economic Results, CIBER (the Center for International Business Education and Research), and the Steven A. Denning Technology and Management Program.
Tech Square Innovation Ecosystem
Scheller College is located in the heart of Atlanta’s globally recognized Technology “Tech” Square, a nexus of innovation and entrepreneurship for business and technology. Honored by the Association of University Research Parks, Tech Square is a mixed-use innovation ecosystem comprising more than 1.4 million square feet with more than 100 startups and 22 corporate innovation centers, including innovation centers for Fortune 500 corporations. In addition to Scheller College of Business, Tech Square is also home to Georgia Tech’s Enterprise Innovation Institute, Advanced Technology Development Center (ATDC), VentureLab, and CODA, a 21-story 645,000 square foot center for business innovation and institutional research. CODA houses Hive, a $5.3M supercomputer that enables data-driven discoveries in data science, computational astrophysics, biology, chemistry, and materials science.
Georgia Tech has recently announced plans for Tech Square Phase III, an impressive expansion to Tech Square’s present footprint. This new phase of development is directly attributable to the $25M philanthropic gift by Scheller College of Business benefactors, Roberta and Ernest Scheller, Jr. The Tech Square Phase III design includes 400,000+ gross square feet of office and retail space, including a twin tower complex. One of the high-rise towers will be dedicated to the expansion of Scheller College of Business. The newly designated Scheller Tower will substantially increase the college’s presence in Tech Square and provide additional classroom and administration space for the continuing growth of the business school. Construction is planned to begin in 2020.
About Creative Destruction Lab
Creative Destruction Lab is a not-for-profit program for massively scalable, seed-stage science- and technology-based companies. Its nine-month program pairs founders with experienced entrepreneurs and investors to set focused, measurable objectives with the goal of maximizing equity-value creation. Founded in 2012 by Professor Ajay Agrawal at the Rotman School of Management at the University of Toronto, the program has now expanded with locations in Vancouver, Calgary, Montreal, Halifax, Oxford and Paris. Since its inception, companies that have participated in the CDL program have created more than $4.5 billion (CAD) in equity value. CDL alumni include North (Waterloo), Atomwise (San Francisco), Kyndi (Palo Alto), Xanadu (Toronto), BenchSci (Toronto), Kheiron Medical (London), and Roadbotics (Pittsburgh).
About Rotman School of Management
The Rotman School of Management is part of the University of Toronto, a global centre of research and teaching excellence at the heart of Canada’s commercial capital. Rotman is a catalyst for transformative learning, insights and public engagement, bringing together diverse views and initiatives around a defining purpose: to create value for business and society. For more information, visit rotman.utoronto.ca.