The awards support cutting-edge research projects that promise to have a significant impact on the economy or society
Five University of Toronto researchers have been recognized with the inaugural Derrick Rossi Innovation Awards for leading innovative projects with strong potential to transition research into real-world applications that achieve maximum impact.
From converting agricultural waste into biochemicals to improving stroke recovery and combating insecticide resistance in mosquitoes, the five researchers – Chung-Wai Chow, Molly Shoichet, Peter Roy, Emma Master and Keith Pardee – have all demonstrated that their scholarship has the potential to be commercialized or, in the case of medicine, translated into health-care environments.
Unlike standard academic awards, the Derrick Rossi Innovation Awards not only provide financial support – they fill a critical gap in a landscape where promising, high-impact research often struggles to attract early-stage investment. The awards focus on proof-of-concept projects with strong socio-economic potential and encourage researchers to consider adoption strategies, regulatory hurdles and the overall market viability of their discoveries and innovations.
“I am absolutely thrilled to see these innovative and potentially transformative proposals receive funding – this is a big win for science, discovery, and biomedical innovation,” says scientist, innovator and entrepreneur Derrick Rossi, co-founder of mRNA vaccine-maker Moderna and whose support made the awards possible.
“Kudos to the visionaries and their teams for driving these projects forward.”
By empowering researchers to make the leap from discovery to commercialization, the Derrick Rossi Innovation Awards promise to boost the number of U of T-developed technologies and ideas that reach their full potential and benefit to society in the years ahead.
The awards reflect Rossi’s own experience moving game-changing research out of the lab and into the commercial realm.
With two degrees in molecular genetics from U of T, Rossi led a team at Harvard University that figured out how to modify messenger RNA molecules to send genetic code to cells. That discovery laid the foundation for Moderna, which went on to use mRNA innovations to develop a COVID-19 vaccine that helped save millions of lives globally.
Rossi, who left Moderna in 2014, has since founded several other biotech companies. He has maintained a connection to U of T over the years – including serving as a mentor for the Rotman School of Management’s Creative Destruction Lab. The university recognized him with an honorary doctorate in 2023.
“Derrick Rossi understands the critical importance of supporting translational research and helping get ideas out of the lab and into hospitals and society at large,” says Leah Cowen, U of T’s vice-president, research and innovation, and strategic initiatives. “These annual awards will help our researchers accelerate discoveries that promise to impact human health, the environment and beyond.”