François Lamoureux enables transformative scientific breakthroughs at CXC through his work with leading university researchers.
For years, the value of universities has been under fire. Critics blame them for economic stagnation, bureaucratic inefficiency, and a widening gap between research and real-world impact. Meanwhile, Silicon Valley is often upheld as the gold standard for innovation. But what if everyone’s been looking at it all wrong?
François Lamoureux, CEO of CXC and Fogo, argues that the very innovations humans rely on today—whether in medicine, energy, or computing—can almost always be traced back to university research. “The world has become obsessed with ‘applied’ science at the expense of ‘fundamental’ research,” Lamoureux says. “The white-sugar rush of immediate application has eroded the time and patience required for deep, world-changing discoveries. Everyone wants the billion-dollar startup exit, but where would we be without the fundamental science that led to E=mc²? That single equation has generated more wealth and societal progress than any billion-dollar app that helps you find the best sandwich on campus.”
From antibiotics to the internet, from artificial intelligence to quantum computing, universities have been at the center of innovation. But today, their role is being downplayed, if not outright dismissed, in favor of flashy startup culture. That, Lamoureux warns, is a mistake.
Another pitfall of the Silicon Valley model? The over-glorification of the founder. Lamoureux calls this the ‘Eddie Van Halen Syndrome’—a reference to the belief that just as every kid with a guitar won’t become a rock star, not every scientist should be expected to run a company. “In music, we used to tell kids they could all be the next Eddie Van Halen or Rihanna. In tech, we now tell them they can all be the next Elon Musk. It’s a lie.”
The pressure to turn researchers into entrepreneurs, he argues, distracts from what really matters: the science. “We don’t need every brilliant mind in a lab trying to build a unicorn startup. We need them doing what they do best—pushing the boundaries of knowledge.”
For decades, one of the biggest challenges in research has been translating scientific breakthroughs into real-world applications. In a recent article, Robert Asselin, VP of the Business Council of Canada, pointed out that there’s no effective mechanism to bridge public R&D and private sector commercialization. Andrew Molson, Chairman of the Res Publica Group, echoed similar concerns.
Lamoureux and his team at CXC built exactly that missing bridge.
Unlike traditional Venture Studios or GPs with LPs, CXC has quietly funneled millions of private capital into university research.
But CXC doesn’t just invest. They build their own labs, hire their own researchers, work hands-on with the principal investigators, add value, and advance the technologies for commercial success. Their portfolio spans cutting-edge innovations in agriculture, beauty & personal care, quantum computing, performance shoe midsoles, and antibiotic resistance. “We don’t manage a daycare of founders,” Lamoureux says bluntly. “We invest at the precise inflection point where fundamental research is ready to transition into applied science. That’s where the real value is.”
The obsession with founder-led startups has led to what Lamoureux calls a ‘valley of death’ in scientific innovation. “We’ve placed societal pressure on researchers to become CEOs, distracting them from their true purpose. Some of them can pull off the CEO job with brilliance, but, most will not be so lucky,” he warns. “The startup world romanticizes the unicorn dream, but there’s a reason they’re called unicorns—they’re rare.”
Lamoureux argues that CXC’s model proves there’s another way—one that doesn’t force scientists into roles they aren’t built for. “As our planet faces more existential threats,” he says, “we need to rethink how we support fundamental research. Instant gratification has its place, but long-term breakthroughs require patience. The future of innovation isn’t just about founders—it’s about the science.”
CXC, Lamoureux says, is currently fielding term sheets, both for their agriculture and beauty & personal care technologies. The company hopes that their success in transferring these cutting-edge yet mature technologies fosters a new era of interest in university fundamental research. He concludes, “As our planet faces more and more threats, science and technology is what will save us. We need to wean ourselves off the white-sugar fix and not always fall into the trap of instant gratification. A healthy mix is perfect. Let’s not all get silly-conned. There is more to innovation than the founder(s). There is the science.”
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