McMaster University and Celesta Capital, a Silicon Valley venture capital firm, entered into a partnership to support start-ups and Canada’s technology industry. 

The partnership was announced in a press release on Tuesday and aims to commercialize technologies developed by researchers at McMaster. Through the agreement, Celesta will provide support to start-up companies affiliated with the university, working towards commercializing intellectual property. 

"McMaster is committed to moving research from the lab and into the hands of those who can put it to work out in the world," McMaster President David Farrar said in the release. 

"This partnership with Celesta Capital allows us to combine our research, talent, and intellectual property with their entrepreneurial expertise and vast network of investors to create companies that benefit both the Canadian economy and broader society."

According to the release, Celesta Capital is a multi-stage venture capital firm focused on deep technology and has a portfolio of over 100 early-stage technology investments.