A Look Back At The Year Of Innovation & Entrepreneurship Of IT Industry

2021 has recently been completed, and people spend and discover different things that turn their lives drastically. Some people were happy with the new changes, while some were not happy to see what had happened. If i tell you about a fact that, last month U of T Entrepreneurship (UTE) released its annual report of the year 2020-2021. In the interview with the Varsity, UTE Director Jon French addressed a lot of aspects of the report, like UTE’s initiatives, and the events that took place in the year 2021, with it’s well explained goals for the future coming years.

Even if we look back, then the phenomenon of the year has been a great one! Entrepreneurs started their own startups, and a lot of business owners partnered with each other making more opportunities for each other making everything worthwhile & amazing! In this short blog, we’re going to look back at the year of the innovation and entrepreneurship of the IT industry to explore more things perfectly!

Let’s get started.

A Section Of Collaboration Between Innovation & Entrepreneurship

Here is the section, in which we’ll shed light on some of the basic elements, making things more clear for the readers.

1. A Look Back At The Report Published Last Year

There was a report, where it stated that many entrepreneurial activities addressed social issues like climate changes, and the health care sector, with other issues as well. French noted that the most of the UTE’s pressing initiatives for the social changes have been mainly student-led. In most times, the students or the startup owners themselves are seen steering on social issues, and accelerating the topics of the U of T entrepreneurship community.

Moreover, this year the UTE also stressed a lot of emphasis on intellectual property (IP) and IP education. UTE in fact provided a free educational program on how students could maneuver through the entrepreneurship era, without violating any IP concerns, knowing their own rights, and concerns.

2. Getting More Involved Into The Entrepreneurship

Second, we have the new UTE website, which is the best way for the students to get themselves involved in entrepreneurial activities. Moreover, the website itself is designed to streamline the entrepreneurial activities, regardless of the fact that you’re a student, faculty member, entrepreneur, and maybe an investor looking out for some guidance in any kind of business spectrum. In fact, according to the French, it’s the largest startup board for the universities in the world, and the hundreds of initiatives and startups are ported in for the students to get access, and gain information about it.

In fact, in French they also stated that, ‘there is no wrong door in the ecosystem and in the entrepreneurial community when it comes to getting involved more delicately. In fact, there are some great ways to get started like talking to specific faculties, or campuses that are seeking opportunities for the services they’re offering, and the events they’re holding themselves for the entrepreneurs. It is a great initiative, around campus like The Hatchery at U of T Engineering or entrepreneurship librarians.

A lot of people, and startup investors sometimes look around for guidance to better lead the roadmap instead of rushing around.

3. Looking Forward To The Bright Future For A Better Insight

On third we have the general perspective from the U of T entrepreneurship that there has never been a better time to be a persuasive entrepreneur. Many other perspective goals and visions are also there. Where, UTE has already planned for the future, that will provide more excellent opportunities for startups and entrepreneurs. Moreover, the UTEs entrepreneurship week will run from March in 2022, giving different exciting events for young entrepreneurs. One of the main events that will take place in 2022, is the UTE startup prize pitch competition, where the selected competitors will showcase their business ideas, and make everyone aware of it. There will be a panel of judges, and a series of prizes for them. The actual drill in the competition is to include $60,000 in the non dilutive prize money for the winners, along with a special social impact prize with $10,000.

The Entrepreneurship week will also be featuring a screening of the ‘Coded Bias’ a film about artificial intelligence, and how the algorithms may work in a negative way to disadvantage underrepresented minorities. These events add more value to the entrepreneurs, and boost their confidence to take more active initiative in the activities. UTE is also proud to introduce the Schwartz-Reisman Innovation Campus, which is a new 750,000 square feet innovation space constructed on the St. George campus that will act as a new home for the UTE starting in the year 2023. The space is predicted to become a hub for entrepreneurship and innovation within Toronto and Canada as a whole.

Even if we open it up, there is a space which is very vibrant and prominently incredible for the people. It welcomes anyone that has a slight thought of starting their own space, and startups across the U of T's tri-campus, according to the French people. Furthermore, this space is also going to be the new home for those who’re new to the Vector Institute for Artificial Intelligence, and will help people to consolidate Toronto's leading position in the AI world of wonders!

Lastly, the Entrepreneurship at the U of T is growing massively, creating more possibilities for the advancements and innovation that are endless and massive! UTE even provides countless opportunities for students to get involved and keep themselves more involved in the activities.

Wrapping Up | A Year Of Innovation & Entrepreneurship

We hope you all enjoyed reading about the tips, and some historic means related to entrepreneurship and the innovative wave of life! A lot of students, in their early academic life look towards a different perspective where they’re more towards getting things done, and start their own business instead of wasting time, and regretting it later! I hope you enjoyed reading about this, and would add more valuable insight to make it sound good!