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 helped grow our business mindset, facilitated connections within the entrepreneurial community, preparing for the Dobson cup and acquiring funding.”
Duration: 8 weeks | Stage: Ideation
Program Dates: October 12 to November 30, 2022
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
- 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.
Why Some Startups Fail And Others Succeed
Developing and validating a proof of concept
Understanding your market and creating a market outreach strategy
Defining your value proposition
Managing your Intellectual Property (IP) & other legal aspects
Funding your startup & measuring its growth
Building a business plan
Crafting and articulating your vision to stakeholders
One-on-one coaching sessions with subject matter experts
Ideal Participant Profile
- Your team has at least one McGill affiliated co-founder e.g., student, faculty, staff or alumni.
- 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 12 to November 30, 2022
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