Canada produces world-leading science, engineering, and AI research. So why does so much of that research still commercialize outside of Canada?

In this episode of TechSurge, host Nic Brathwaite puts that question to four leaders at two of Canada's top research universities: Mary Wells (Dean of Engineering) and Chris Houser (Dean of Science) at the University of Waterloo, and Heather Sheardown (Dean of Engineering) and Gianni Parise (VP Research) at McMaster.

At Waterloo, Mary Wells traces how the university's origin produced one of the world's most influential co-op programs and a creator-owned IP policy that lets inventors keep their ideas, making the school a talent engine for global tech. The group digs into Canada's AI paradox, foundational research and talent but far less of the economic value, and what quantum, robotics, and advanced manufacturing show about getting research to market.

McMaster runs a different model, built on health sciences, nuclear research, and problem-based learning. Heather Sheardown explains the McMaster Method and why it matters in an AI-shaped future. Gianni Parise argues for commercialization as a core university function, with work spanning AI-assisted drug discovery, inhaled vaccines, critical-mineral-free motors, and a campus nuclear reactor that supplies much of the world's iodine-125 for prostate cancer treatment. They also unpack Fusion Pharmaceuticals, the McMaster spin-out acquired by AstraZeneca, and what it reveals about university commercialization.

Together, these conversations ask what universities must become in an era defined by AI, deep tech, national competitiveness, and the urgent need to move ideas from the lab into the world.

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Speaker Profiles and Links

Mary Wells - University of Waterloo Profile: https://uwaterloo.ca/engineering/about/dean-engineerin
Chris Houser - University of Waterloo profile: https://uwaterloo.ca/earth-environmental-sciences/profile/chouser
Heather Sheardown - McMaster Engineering profile: https://www.eng.mcmaster.ca/chemeng/faculty/dr-heather-sheardown/
Gianni Parise - McMaster Experts Profile: https://experts.mcmaster.ca/people/pariseg

Chapters:

0:00 Highlights
0:56 Welcome
2:39 Waterloo’s origin story
4:51 Creator-owned IP and the Waterloo model
7:42 The Co-op Flywheel
8:56 Canada’s AI paradox: world-class research, slower domestic value capture
10:21 AI, Regulation, Trust, and Canadian Competitiveness
17:09 Rethinking the PhD for Commercialisation
21:43 Inside Waterloo’s labs
30:14 What Waterloo wants to be in ten years: builders of the country
32:39 Meet McMaster: health sciences, nuclear capability, and research intensity
34:12 The McMaster Method
35:11 Research, Health, and Commercialisation
40:45 McMaster Labs: Heat, Motors and Health Innovation
47:13 Bioinnovation, Nuclear Research and Fusion Pharmaceuticals
58:43 The university of 2035: less lecture, deeper societal impact

References Mentioned and Further Reading

University of Waterloo Policy 73 - Intellectual Property Rights: https://uwaterloo.ca/secretariat/policies-procedures-guidelines/policies/policy-73-intellectual-property-rights
University of Waterloo - Our IP policy: https://uwaterloo.ca/entrepreneurship/our-ip-policy
University of Waterloo Co-op programs: https://uwaterloo.ca/future-students/co-op
University of Waterloo - Academy of Research Commercialization: https://uwaterloo.ca/conrad-school-entrepreneurship-business/graduate-students/academy-research-commercialization-arc
Open Quantum Design: https://openquantumdesign.org/
Institute for Quantum Computing, University of Waterloo: https://uwaterloo.ca/institute-for-quantum-computing/
CIFAR - Pan-Canadian Artificial Intelligence Strategy: https://cifar.ca/ai/
Government of Canada / ISED - Pan-Canadian Artificial Intelligence Strategy: https://ised-isde.canada.ca/site/ised/en/pan-canadian-artificial-intelligence-strategy
Statistics Canada - Understanding Canada’s innovation paradox: https://www150.statcan.gc.ca/n1/pub/36-28-0001/2024007/article/00002-eng.htm
Council of Canadian Academies - Innovation and Business Strategy: Why Canada Falls Short: https://cca-reports.ca/wp-content/uploads/2018/10/2009-06-11-innovation-report-1.pdf
KPMG / University of Melbourne - Trust, attitudes and use of artificial intelligence: https://assets.kpmg.com/content/dam/kpmg/ca/pdf/2025/07/trust-in-ai-en-report.pdf
McMaster - Our approach to teaching and learning / Problem-Based Learning: https://provost.mcmaster.ca/teaching-learning/our-approach/
McMaster - Evidence-based medicine: https://fhshrwelcome.mcmaster.ca/did_you_know/evidence-based-medicine/
McMaster Nuclear Reactor - Medical Isotopes: https://nuclear.mcmaster.ca/medical-isotopes/
McMaster Industry Liaison Office - IP and commercialization FAQ: https://research.mcmaster.ca/mcmaster-industry-liaison-office-milo/ip-education/intellectual-property-guides/faqs/
McMaster - AstraZeneca to acquire McMaster-supported Fusion Pharmaceuticals: https://news.mcmaster.ca/astrazeneca-to-acquire-mcmaster-supported-fusion-pharmaceuticals/
Fusion Pharmaceuticals - FACIT investment and CPDC spin-out background: https://fusionpharma.com/facit-announces-investment-in-fusion-pharmaceuticals-and-alpha-emitting-radiotherapeutics/
PubMed - Evidence-based medicine and problem-based learning at McMaster: https://pubmed.ncbi.nlm.nih.gov/31617018/
ScienceDirect - Fifty Years on: The first problem-based learning programme at McMaster: https://www.sciencedirect.com/science/article/pii/S2452301118300592

What is TechSurge: Deep Tech Podcast?

The TechSurge: Deep Tech VC Podcast explores the frontiers of emerging tech, geopolitics, and business, with conversations tailored for entrepreneurs, technologists, and investment professionals. Presented by Celesta Capital, and hosted by Founding Partners Nic Brathwaite, Michael Marks, and Sriram Viswanathan. Send feedback and show ideas to techsurge@celesta.vc.

Each discussion delves into the intersection of technology advancement, market dynamics, and the founder journey, offering insights into the vast opportunities and complex challenges ahead. Episode topics include AI, data center transformation, blockchain, cyber security, healthcare innovation, VC investment trends, tips for first-time founders, and more.

Tune in to hear directly from Silicon Valley leaders, daring new founders, and visionary thinkers. Past guests include investor Vinod Khosla, former PepsiCo CEO Indra Nooyi, the Global Head of McKinsey, and executive leaders from Microsoft, OpenAI, and other leading tech companies.

New episodes release every two weeks. Visit techsurgepodcast.com for more details and to sign up for our newsletter and other content!