Creative Destruction Lab (CDL) is thrilled to welcome Toronto law firm Aird & Berlis LLP as the newest partner of CDL's global Space stream. Through this partnership, ventures that are pushing the boundaries of the commercial space industry will be supported with expertise and insight from the first Canadian law firm with a dedicated Space Tech Group.
"CDL is a highly respected platform for space technology ventures. We are excited to play a role in growing the Space Tech ecosystem, particularly through CDL's Toronto headquarters," says Marek Lorenc, Founding Chair of the Aird & Berlis Space Tech Group.
"There are a number of really outstanding space businesses in Canada that are coming into their own, and we see this as a massive growth opportunity for the Canadian ecosystem, and the space industry more broadly."
"This partnership provides a unique opportunity for CDL ventures to obtain support from the first law firm in Canada to launch a group that's focused on providing legal expertise and strategic advice in Space Tech," says Sonia Sennik, CDL Executive Director. "By partnering with Aird & Berlis, CDL venture founders will now have direct access to a team with deep knowledge in the space industry including corporate finance, government contracts, regulatory affairs, IP and project financing."
CDL Helps Build Massively Scalable Space Tech Ventures
CDL Space is a community of world-class experts and founders. The program brings together astronauts, entrepreneurs, investors, and scientists from fields related to space exploration and transportation, satellite communications, Earth observation, automation, and robotics. Companies from more than 15 countries have participated in the CDL Space stream.
The CDL Space stream is for founders pursuing commercial opportunities that exploit the recent drop in the cost of accessing space and enable humanity to benefit from space-based technologies. CDL Space has supported the creation of CAD $1.01 billion in equity value by companies that have participated in the stream.
Aird & Berlis: At the Vanguard of Space Tech Law
After following the space industry closely for years, Marek Lorenc, Founding Chair of the Aird & Berlis Space Tech Group, saw the opportunity to provide comprehensive services for clients involved in Space Tech. With a roster that includes launch companies, developers and operators of satellites and constellations, and other aerospace products and technologies, Aird & Berlis is uniquely positioned to provide a legal and business perspective for ventures in the CDL Space stream.
"We see a lot of growth in the Canadian landscape. There's been a shift in the market, with increasingly sophisticated capital, both on the public and private side, going into space technology," Lorenc says.
"As a firm, we've seen an increase in mandates from clients that are directly involved in Space Tech, advising them on finance, commercial, IP, and other related areas. So we took the initiative to consolidate the experience and interest within our firm and focus our efforts going forward to service this highly impactful industry."
Creative Destruction Lab (CDL) is a nonprofit organization that delivers an objectives-based program for massively scalable, seed-stage, science- and technology-based companies. Its nine-month program allows founders to learn from experienced entrepreneurs, increasing their likelihood of success. Founded in 2012 by Professor Ajay Agrawal at the University of Toronto's Rotman School of Management, the program has expanded to 12 sites across six countries: Oxford, Seattle, Paris, Atlanta, Madison, Vancouver, Calgary, Montreal, Halifax, Berlin, and Estonia. Learn more at creativedestructionlab.com.
About CDL Space
CDL Space is an international program based out of three CDL locations — CDL-Toronto, CDL-Atlanta, and CDL-Paris — for pre-Seed to pre-Series A technology startups and designed to support both space and Earth-based technology.
About Aird & Berlis
Aird & Berlis is a leading Canadian business law firm, based in Toronto, with more than 225 lawyers, patent agents, and business advisors. We provide strategic legal and business advice in all principal areas of business law, including capital markets and corporate finance, mergers and acquisitions, commercial, tax, banking, insolvency and restructuring, among many others.