Following the successful outcomes of the MedEdge 2016 Call for Expressions of Interest and building on the interest generated at the 2017 MedEdge Summit on June 13 in York Region, the Ontario Centres of Excellence (OCE), in partnership with ventureLAB, is inviting participants of MedEdge Summit 2017 to participate in a competitive Call for Expressions of Interest to support partnerships between companies and Ontario post-secondary institutions in the growing MedTech sector. Focused on driving innovation in York Region and across Ontario, ventureLAB and OCE together are seeking applicants for this unique competitive program support offering.

Objectives:

  • Assist businesses in the medical devices and life sciences sectors by providing access to the best and brightest researchers
  • Sponsor projects aimed at moving technology into commercialization through development, demonstration, and clinical validation.
  • Link post-secondary students and recent graduates possessing entrepreneurship spirit directly to industry, leading to new innovative technology development
  • Generate sustainable economic outcomes and drive job creation in Ontario

Project criteria include:

  • Involves innovative technology development and demonstration of collaborative commercialization
  • Has a positive business case and a clear path to commercialization
  • Fully leveraged funding (every dollar requested of OCE should be matched by a cash contribution plus committed in-kind contribution from the company)
  • Involves skills development and training for students

OCE funding can be applied through several existing programs:

  • SmartStart Seed Fund supports new ventures led by Ontario’s next generation of entrepreneurs. The fund is designed to support entrepreneurs, including both youth from the age of 18 to 29, and non-youth led start-ups from the age of 30+, transition their start-ups from product development to market entry and company building. The program provides seed funding and support for entrepreneurship skills training and professional advisory services to for-profit Ontario-based start-ups led by young entrepreneurs, helping them grow their companies and make them investment and customer ready. Applicants will be eligible for a non-repayable contribution toward direct eligible costs of up to $60,000 per start-up to launch and grow their businesses. 

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  • Market Readiness supports the further development of Intellectual Property (IP) from Ontario universities, colleges, research hospitals, or Campus-Linked Accelerator (CLA) by assisting in both the Customer Creation and Company Building Stages of the Customer Development Model, as defined using the Lean Start-up principles. OCE investment at the Customer Creation Stage is $125,000; at the Company Building Stage OCE can invest $250,000 per application. Companies supported through the Market Readiness Program should have incorporated fewer than five years ago, and have not exceeded predefined thresholds for third party investment.

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  • TalentEdge provides Ontario students and recent graduates with real-world industry experience. Through the program, interns and postdoctoral fellows can apply their expertise, leading-edge knowledge and tools to solving industry problems. It is open to university and college students, specifically graduate students and final year undergraduate students, and recent Masters graduates, and is open to all disciplines. Placements can be either company or campus-based. OCE provides $10,000 funding per four-month Internship unit and $35,000 per 12-month Fellowship unit, with matching cash and in-kind contributions from the company. 

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  • Voucher for Innovation and Productivity I (VIP I) involves short‐term projects between companies and academic researchers that address specific technical challenges or opportunities identified by the company. Funding of up to $20,000 for projects up to 12 months in duration. Federal program partners NSERC, IRAP, and BDC can also be leveraged through a VIP 1 opportunity.

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  • Voucher for Innovation and Productivity II (VIP II) helps eligible companies develop, implement and commercialize technical innovations by supporting partnerships between Ontario’s industry and academia. OCE will invest a minimum of $50,000 annually into a VIP II project. Projects must be between 12 and 24 months in duration. The maximum OCE investment is $75,000 annually, or up to $150,000 over two years to support eligible research costs.

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Important Dates:

  • June 13, 2017 Call for Expressions of Interest announcement
  • July 14, 2017 On-line application due for OCE feedback
  • July 28, 2017 Review of EOIs and invitation to applicants for full proposal
  • September 8, 2017 Full proposals due to OCE
  • October 2017 Decision on awards

Application Details:

Follow the application link below and complete the brief form before 5:00pm, Friday, July 14, 2017. Successful applicants will be notified and be given instructions for completing a full on-line OCE proposal application.

MedEdge Call for Expressions of Interest 2017 – Application Link

 

For any questions, please contact:

Balinder Rai

Senior Business Development Manager, OCE

Tel: (416) 861-1092 x 2425

balinder.rai@oce-ontario.org

Mike Betts

Vice President, Venture Services, ventureLAB

mbetts@venturelab.ca