 In 2018, the University of Toronto Entrepreneurship was ranked the fourth best university-based incubator in the world by UBI Global in the "World Top Business Incubator – Managed by a University" category.Since 1926, the University of Toronto has been a member of the Association of American Universities, a consortium of the leading North American research universities.The university manages by far the largest annual research budget of any university in Canada with sponsored direct-cost expenditures of $878 million in 2010.