Frederick Banting upon the idea of obtaining insulin from the fetal pancreas. He removed the pancreases from fetal calves at a William Davies slaughterhouse and found the extracts to be just as potent as those extracted from the dog pancreases. By December 1921, he had also succeeded in extracting insulin from the adult pancreas. Pork and beef would remain the primary commercial sources of insulin until they were replaced by genetically-engineered bacteria in the late 20th century. In spring of 1922, Banting established a private practice in Toronto and began to treat diabetic patients. His first American patient was Elizabeth Hughes Gossett,
Banting and Best Centre for Innovation and Entrepreneurship developed in 1921. The Centre, managed by the University of Toronto, set up facilities to foster collaborative work between students, faculty and private enterprise by providing office space, courses and equipment. The centre has also provided jobs for students and recent graduates of the university. Soon after its establishment, the centre began raising money from private investors to fund startup companies. During the first year about $23 million was raised. As of 2016, the centre operates nine business accelerators. Banting and Best Centre for Innovation and Entrepreneurship The Banting and Best Centre for Innovation and Entrepreneurship is an initiative of