MaRS Innovation launches streamlined funding program

Applications invited for MI’s Industry Access Program, which matches early-stage, high-potential technologies to partners and funding

The commercialization process: Moving transformational ideas from the lab bench to the street

MaRS Innovation’s commercialization process helps inventors move their transformational ideas from the lab bench to the street.

MaRS Innovation (MI) has launched a unique funding program to match researchers with industry partners while advancing early stage technologies: the MaRS Innovation Industry Access Program (MI-IAP).

This program provides a simple mechanism to connect researchers with MI’s industry partners. The process and application form are intentionally brief to save researchers time and allow MI’s partners to review a wide range of remarkable technologies within the Toronto academic community in a short period of time.

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Parimal Nathwani, vice-president, Life Sciences,     MaRS Innovation.

“Many granting programs require an industry partner, but leave finding that partner to the researcher,” says Parimal Nathwani, vice-president of life sciences at MI. “Our Industrial Partnership Program completes that step for them. We also know researchers within our member institutions are incredibly busy, which is why we’ve adopted a streamlined process to save them time.”

The program is open to any researcher affiliated with our 16 member institutions working on technologies in:

  • therapeutics
  • diagnostics
  • medical devices
  • health IT

There is specific interest in technologies applicable to the central nervous or cardiovascular systems.

Recommended budgets range from $50,000 to $200,000 and will be provided through MI’s existing strategic partnerships with:

Here’s how it works

  1. Researchers submit a single paragraph Statement of Interest to MaRS Innovation by 4 pm on November 15, 2013.
  2. MI will reach out to them to better understand their technology, conduct preliminary diligence and internally review all statements by November 22.
  3. If MI sees a match between a technology and an industry partner’s stated interests, MI will help researchers fill out the non-confidential technology summary, which includes a one-page application form and summary PowerPoint slide.
  4. Researchers submit their application to their technology transfer office by December 9. They go to MI’s partners on December 12.
  5. Based on the submitted materials, MI will notify researchers of partner interest on or before January 27, 2014.

Caveats

  • MI reserves the right to determine the most appropriate industry partner for a researcher’s technology
  • All successful projects are subject to the terms of the member agreement between MI and its members.
  • If a project is encumbered by a third party, it’s not eligible.
  • Completing a Statement of Interest does not guarantee funding.

If there is partner interest, MI will arrange a meeting or conference call with the strategic partner to initiate their due diligence. Upon completion of their investigation, the partner, at its exclusive option, may decide to deploy funding for the project.

By Elizabeth Monier-Williams, marketing and communications manager.