Edmonton based startup, DrugBank, has been accepted into the 2019/20 Creative Destruction Lab (CDL) program year. CDL is a seed-stage program for massively scalable, science-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, and Oxford.
The tech startup says they are thrilled to be amongst the best and brightest, and look most forward to connecting with impactful mentors that will help guide them towards a strong growth plan. DrugBank CEO, Michael Wilson, says “when we applied for CDL, we knew it was competitive, and are so pleased that the selection community saw our company as one that could benefit from the mentorship and programming offered by CDL-West. We are excited to dive in, get to know the other companies, and take full advantage of this opportunity afforded to us.”
With DrugBank entering its fourth year in operation, they are anticipating a shift from startup to scaleup, and will be actively fundraising to grow their company at an accelerated pace. “CDL provides us with the perfect environment to test our growth projections and goals, get guidance to ensure we are aligned with tangible, achievable next steps, and gain insights from experienced investors,” explains CTO, Craig Knox.
“Beyond the benefit to our company, we are so excited to be representing the Edmonton Startup Community. We are surrounded by successful technology companies, but that success is not often loudly celebrated, so we look forward to sharing our city’s stories with the broader ecosystem,” Wilson exclaims.
CDL-West kicked off the first week of November, and continues for the next nine months. Keep up to date with DrugBank’s progress by following them on LinkedIn, Twitter, and Facebook and looking for the hashtag #BuildSomethingMassive.
To learn more about CDL, check out: creativedestructionlab.com.
Operations Manager, DrugBank