Turning Health Science Innovations Into Startups
This program, in partnership with the Faculty of Medicine and Health Sciences, is designed to grow the entrepreneurial mindset of innovators in the fields of biomedical/ biochemical engineering, advanced therapeutics, medical/ surgical devices and software, computational health, health monitoring, health & wellness, and more.
Throughout the 8-week program, you will attend weekly workshops, conduct self-directed work, and acquire tangible tools to:
- Test the viability of your concept
- Build your business plan
- Develop your minimum viable product (MVP)
- Discover your market
- Create your value proposition
- Protect your intellectual property (IP) and understand regulatory environments
- Develop your fundraising strategy
- Establish realizable goals for your startup
“The Health Sciences Lean Startup program has given us a better sense of direction and we now know way more about where to go in the future.”
Adrien Moevus
Cofounder, Back to Health
Program Overview
Duration: 8 weeks | Stage: Ideation
Program Dates: October 11 to November 29, 2023
Time: 6pm - 7:30pm
Key Learning Themes
- Why some startups fail, and others succeed: stages, pitfalls and best-practices
- Developing your minimum viable product (MVP)
- Managing and protecting your Intellectual Property (IP)
- Understanding your market and developing your market outreach strategy
- Articulating your value proposition
- Funding an innovative venture & defining KPIs
- Iterating your business model and drafting a business plan
Format
- Weekly interactive workshops introduce business concepts, strategic frameworks and tools, while guest speakers share real world examples through stories, and industry insights. Workshops generally last one hour, with extra time reserved for group discussions and learning activities.
- Action learning encourages participants to apply learned concepts and tools towards building their business and creating a viable startup strategy.
- Coaching sessions allow participants to review their business plans during one-on-one meetings.
Outline
| Week | Learning Themes |
|---|---|
| 1 |
Why Some Startups Fail And Others Succeed
|
| 2 |
Developing and validating a proof of concept
|
| 3 |
Understanding your market and creating a market outreach strategy
|
| 4 |
Defining your value proposition
|
| 5 |
Managing your Intellectual Property (IP) & other legal aspects
|
| 6 |
Funding your startup & measuring its growth
|
| 7 |
Building a business plan
|
| 8 |
Crafting and articulating your vision to stakeholders
|
| Post-program |
One-on-one coaching sessions with subject matter experts
|
Program Application
Ideal Participant Profile
- Your team has at least one McGill affiliated co-founder e.g., student, faculty, staff or alumni (graduated within the last 10 years).
- You are working towards validating your concept, creating a business plan, and launching your startup.
- Your team has at least one technical co-founder, and can build your business upon a technology, science, or idea that is significantly or radically disruptive.
- Your innovation is focused on advancing the delivery, quality, speed, cost or accessibility of healthcare to patients to prevent and cure diseases and improve patient quality of life.
- Your team is composed of multi-disciplinary professionals (including learners or graduates).
- You can commit to attending all the workshops and executing the project work (required to maintain your participation in the program)
How to Apply
Next cohort: October 11 to November 29, 2023
Register here to be notified when the program applications open.
Next Steps
Following completion of the Health Sciences Lean Startup program, participants are encouraged to apply to the McGill Dobson Bootcamp and Cup competition for a chance to win up to $20,000 in pre-seed funding.
Have questions about the program? Email us at dobson.mgmt [at] mcgill.ca for more information
