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Creative Destruction Lab
Ajay Agrawal, a professor of entrepreneurship at the University of Toronto's Rotman School of Management, launched Creative Destruction Lab in 2012 as an...
Creative Destruction Lab
Ajay Agrawal, a professor of entrepreneurship at the University of Toronto's Rotman School of Management, launched Creative Destruction Lab in 2012 as an experiment in evidence-based startup mentoring. The program operates as a nonprofit, funded by its host universities, corporate partners, and government grants. Its wealth origin is not applicable in the traditional sense — CDL is an educational program, not an investment vehicle. CDL focuses exclusively on early-stage, technology-oriented ventures, with a strong emphasis on artificial intelligence and machine learning startups. Participating companies go through a nine-month program with sessions focused on key objectives: defining the problem, acquiring customers, building a product, and raising capital. Notable alumni include Kindred, Element AI, and Sanctuary AI. The program's sectors span enterprise software, digital health, climate technology, and robotics. CDL operates across 13 sites in Canada, the United States, Europe, the United Kingdom, Israel, and Australia, sourcing deal flow from its university partnerships and mentor network. CDL does not deploy capital itself; rather, it connects startups to a network of angel investors, venture capital firms, and strategic partners. The program has mentored over 1,800 startups since inception. In June 2024, CDL announced a new site in Sydney, Australia, expanding its global footprint (per the firm, June 2024). The program claims that participating startups have collectively raised more than $3 billion in external funding. CDL's structural differentiator is its stage-gate, objective-setting format, which differs from traditional accelerators that often provide fixed-term cohorts and prescriptive curricula. CDL does not take equity, does not offer funding, and does not have a formal investment committee. The program is designed as a public-good initiative, with the goal of accelerating the commercial adoption of science-based ventures. Its success is measured by the equity value created by its alumni companies, not by financial returns to the program itself.
General information
Firm type
other
Year founded
2012
AUM
Undisclosed
Location
Region
North America
Country
Canada
City
Toronto
Corporate office
Toronto, Ontario, Canada
Additional offices
Calgary · Vancouver · Montreal · Halifax · Seattle · Atlanta · New York · Berlin · Paris · London · Tel Aviv · Sydney
Principals
Ajay Agrawal
Founder & Academic Director
Joshua Gans
Chief Economist
Avi Goldfarb
Chief Data Scientist
Sector focus
Frequently asked questions
Does Creative Destruction Lab take equity from startups?
No, CDL does not take any equity, fees, or ownership from participating startups. The program is structured as a nonprofit initiative hosted by partner universities. CDL's motivation is to accelerate the development of science-based businesses, not to generate financial returns for itself.
How does CDL source deal flow and select startups?
CDL sources applications from its network of 13 university-hosted sites, as well as through direct outreach and referrals from its mentor network. Selection is based on the quality of the science or technology, the founding team, and the potential for commercial impact. The program runs an open application process and does not charge for participation.
What is the relationship between CDL and its alumni companies?
CDL alumni companies are not required to grant CDL ongoing access or rights. The program maintains relationships through alumni events, ongoing mentorship opportunities, and data collection for impact reporting. CDL publishes an annual impact report tracking equity value creation and capital raised by alumni.
Is CDL affiliated with any specific venture capital firms?
CDL is not formally affiliated with any single VC firm, but it works closely with a large network of mentors and investors, many of whom are partners at VC funds. CDL sites often host investor demo days and facilitate introductions between founders and its mentor network. The program does not endorse or recommend specific investors.
How does CDL measure its success?
CDL tracks the total equity value created by its alumni companies, defined as the market value of equity at the time of the most recent funding round or exit. As of 2025, CDL reports that its alumni have created over $8.7 billion in equity value. The program also monitors aggregate capital raised, number of jobs created, and number of patents filed by participants.
What investment stages does CDL target for its participants?
CDL focuses on pre-seed and seed-stage companies, typically those with a minimum viable product or prototype. However, the program has also accepted later-stage startups in specialized streams. The goal is to help companies reach a Series A-ready milestone within the nine-month program.
Which sectors does CDL explicitly avoid?
CDL does not publicly exclude any sectors, but its streams are typically focused on technology and science-based ventures. The program has dedicated streams for AI/ML, climate tech, digital health, and other deep-tech areas. CDL does not typically work with consumer goods, real estate, or non-technology service businesses.
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