About MaRS Innovation’s Services
Inventors who choose to work with MaRS Innovation don’t go it alone. When we take a technology into our portfolio, we provide all of the services to take it from the bench to the market, covering all aspects of the early-stage development cycle.
MI’s services are exclusively available to founding teams connected to our members. If you have questions about your eligibility, contact the technology transfer office at your institution.
Services We Provide
- Assisting with business strategy, product development and target market strategies.
- Developing strategic product and services, and product and technology roadmaps.
- Providing guidance and advice regarding intellectual property strategy (e.g., when to apply for patents and when to maintain technology as a trade secret).
- Securing general insurance and directors’ and officers’ liability insurance
- Assisting with fundraising, including business plans and pitch deck development
- Structuring terms of license agreements.
- Preparing competitive market assessments.
- Developing strategic partnerships and alliances.
- Implementing an account management focus.
- Ensuring compliance with government regulations and industry standards.
- customer and strategic partner business development and management,
- Developing the go-to-market strategy.
- Establishing a rigorous sales management and tracking process (e.g., sales funnel, rational and supportable revenue projections, etc.).
- Branding the company and positioning its products and services (e.g., introduction to suitable designers or agencies, feedback from MI’s director of marketing and communications, etc.).
- Forming offensive and defensive IP strategies.
- Assessing the company’s informal freedom to operate.
- Filing trademark applications.
- Liaising with leading information system providers to ensure the company’s seamless product integration over a broad range of devices and healthcare IT systems (where applicable).
- Preparing and filing provisional patent applications.
- Sourcing patent counsel and working with them to assist in utility applications, national phase decision-making, etc. (lead by MI’s director of intellectual property).
- Working with the company to establish milestones (e.g., product development, business development, marketing and communications presence and/or strategies, etc.).
- Establishing a formal risk management process.
- Establishing a monthly review operational and process meetings.
- Providing a full suite of templates such as standard employment letters, confidentiality agreements, consulting agreements, etc.
- Building out the company’s facilities, including offices and wet labs.
- Setting up bank accounts and obtaining a line of credit.
- Making vendor introductions and opening vendor accounts.
- Creating IT infrastructure, including email systems, web domain acquisition, computing networking and back-up systems).
- Establishing lab operation support, including standard operating procedures, office management functions and miscellaneous logistics.
- Collaborating to help develop strategic marketing and communications plans or campaigns.
- Assisting with company brand development and establishing or improving the company’s website, including introductions to vendors.
- Crafting and distributing announcements for the company’s launch, funding milestones, product developments or other product news.
- Reviewing product, customer or stakeholder messaging.
- Providing social and digital media training for start-up executives or teams.
- Providing embedded management on an interim basis, depending on company’s needs (e.g., CEO, COO, CFO, business development, operations, engineering management, project management, human resources and marketing and communications).
- Acting as the hiring manager for the company’s first hires and sourcing Canadian visas for foreign hires.
- Administering payroll.
- Setting up and administering employee healthcare benefits coverage with an insurance provider as well as employee records and training.
- Mentoring the company as appropriate regarding internal communications and staff development.
- Developing, implementing and managing an Employee Stock Option Plan, including sourcing tax advice regarding option plan and pricing.
- Help with setting up operational budgets, cash flow budgets, capex and plan expenditures.
- Assistance creating a financial case for fundraising, including necessary support documents.
- Implementing an accounting system, including a purchase order and invoice approval system and keeping proper timesheets for SRED and other tax credit purposes.
- Identifying opportunities for NRC-IRAP support.
- Negotiating terms with other public funding sources (legal counsel brought in by MI as required).
- Providing back-office accounting services until the company can hire internal staff.
- Mentoring the management team on board of director and investor relationships.
- Implementing rigorous governance procedures, including board procedures and instruction in how to organize board meetings, assembling board materials and maintaining board minutes.
- Liaising with the company’s member institution and previous seed funders.
Next Round Funding
- Making introductions to angel investors and venture capital fund managers.
- Sourcing appropriate legal counsel for structuring and ongoing corporate needs.
- Obtaining advice on the appropriate incorporation structure and form, including registering an incorporated entity for tax purposes.
- Preparing business plans and investor pitches, along with presenter coaching.
- Coordinating due diligence and maintaining files for third-party review; interfacing with funding sources.