Home

The 5th round of the McGill Innovation Fund (MIF) is now open!

Entering its fifth year of operation, the MIF is uniquely successful entrepreneurial funding program that has helped university research move out of the laboratory and into real-world applications. With every application linked to a Report of Invention, the MIF is one of the few programs in Canada to directly mobilize the translation of research into valuable business ventures. At the same time, the MIF is not limited to generating spinoffs – applications to pursue the development of a technology for licensing to another company are also eligible.

Generous funding

The foundation of the MIF is the substantial funding it can provide to successful teams. Awards are divided among three stages: Discover ($25,000), Develop ($50,000) and Deploy ($100,000). These stages are not sequential – teams are welcome to apply at whatever stage makes sense, and provided they meet the eligibility requirements. Details can be found here.

Returning for a third year, there is also a supplemental award generously provided by the McGill AMR Centre. This award will be provided in addition to any of the other stages for teams who are focused on solutions to prevent, diagnose and treat life-threatening bacterial infections.

Alumni advice

What sets the MIF apart from many other programs is the access to the advice and expertise of a growing body of ecosystem members. These volunteers – all McGill alumni – freely contribute their expertise in company and business development through an intensive series of advisory board meetings. They also take part as guest speakers, selection day judges and networking guests. In many cases, they have opened doors and made introductions for teams that are simply unavailable elsewhere.

Changes to the program

To enhance the ability of teams to properly commercialize their technologies, and to further expand their understanding of the entrepreneurial experience, a new emphasis will be placed on training. There will also be a coordinated integration with the Desautels Faculty of Management who will provide teams with access to dedicated student teams over the first half of the MIF Support Program. More details can be found here. There have also been modifications made to the application form - there are new questions on TRL, team members and company formation. And, to support applicants the pitch training program has been expanded, and will now be mandatory for all teams.