The Support Program is a 12-month journey where recipients will have the opportunity to bring the business side of their project to the next level. It has been designed to surround recipient teams with experts in various business-related fields (marketing, finance, business development, etc.) to provide them with guidance and expertise adapted to their needs. Below is an overview of the structure and the opportunities of the Support Program:
The cornerstone of the Support Program is the creation of a roadmap, personalized to each Recipient project’s status and needs. The roadmaps will be developed during an in-person event called Mentor-Match, where recipients and a pool of MIF experts will be present.
Recipients will first pitch their projects to the room. Then, each expert will then choose which project they would like to work with by sitting at the Team's designated table. By sitting at a table, the expert becomes a member of that Recipient’s Advisory Board (see section below) and commits to supporting them for the entirety of the Support Program.
Once the tables are formed, recipients and experts will go through a structured brainstorming workshop to identify key objectives that the team should to reach in the next 12 months to bring their business to the next level. Experts will be able to provide insights on how to accomplish the objectives and to advise recipients on the resources that should be considered for each objective. This will be an opportunity for recipients to acknowledge the step-by-step process that goes into establishing a business.
Recipient advisory board
Following the creation of their personalized roadmaps, recipients will be able to work on their objectives for the following 12 months. They will meet with their RAB experts on a bi-monthly basis to give updates and receive feedback on the progress made on their roadmap objectives. Recipient advisory board meetings are an opportunity for recipients to work through their roadblocks with their board members while obtaining key advice to move the business side of their projects forward.
Recipients will meet with an MIF representative on a bi-monthly basis, in between RAB meetings. These short meetings are meant for recipients to ask questions regarding their roadmap, ask for additional expertise needed to complete objectives and to discuss their experience in the Support program. The MIF is there to provide proactive help to the Recipients.
The MIF is surrounded by an ecosystem of actors who have expertise in business-related fields and who are eager to provide support to emerging innovations. Recipients will be able to interact with these experts through animation activities such as lunch and learns, panels, networking events, etc., as well as gain skills and knowledge that are critical to the success of their business.
A key success factor in any business venture in the creation of connextions with actors in your field or region. To facilitate this, the MIF will provide Recipients with access to a private mentorship group on the McGill Connect platform. In this group, Recipients will have the opportunity to make connections with local and international McGill alumni in various fields, ask questions and receive key feedback and guidance to advance their project.
The Student Support is an initiative that provides recipients with access to McGill students with various working and academic experiences. Recipients will have the opportunity to identify their needs, to interview potential candidates and to offer internship positions which will be partly subsidized by the MIF. This will allow recipients to go through the hiring process, to build their team and get additional support to move the business side of their projects forward.