Program Description
The Innovation Acceleration MEDTEQ+ (IAM) program is a personalized coaching program targeting entrepreneurs and managers of innovative Canadian healthcare technology SMEs (regulated or non-regulated). The aim is to de-risk their business path by helping them understand, define and appropriate the best strategies for their company. AIM also aims to increase the number of Canadian medtech start-ups receiving Series A financing, a critical need in the sector. In this new version (AIM6), coaching is provided by experts from the MEDTEQ+ networks, including multinational medtech companies and specialized investors.
- Program coordinated by MEDTEQ+ and NRC-IRAP, drawing on external experts chosen according to the specific needs and challenges of each company.
- Up to 30 hours of involvement by the various experts for each selected company, with an average program duration of 3 to 4 months.
Objectives
The AIM program aims to steer all SME strategies towards commercialization and export as early as possible (R&D strategy, clinical strategy, regulatory strategy, manufacturing strategy, partnership strategy, intellectual property strategy, distribution strategy, etc.) in an integrated plan that minimizes the risk of financing execution.
Selection Criterias
- Maturity and profiles of applicants: targeted companies will at least have a working prototype and evidence of their potential in a first identified market.
- Final selection of companies is the responsibility of NRC-IRAP.
- Available at a cost of $500 to selected SMEs, thanks to NRC-IRAP support.
Expected Results
- Marketing, export, venture capital financing.
- Identify business opportunities and value propositions that can generate new revenues over 1, 3 and 5-year horizons.
- Stimulate product and service innovations associated with specific business models adapted to the commercial and regulatory conditions of the targeted healthcare sector.
- Capitalize on the MEDTEQ+ and NRC-IRAP network of partners, in synergy with existing gas pedals and incubators or any other relevant support structure in the healthcare network, to facilitate and accelerate the development, demonstration and adoption of medical technology innovations.
- Guide and encourage the development of skills and organizational capabilities in innovation management.
- Accelerate and facilitate intermediation from SMEs to healthcare receptor communities, major groups and major international healthcare players.
- Catalyze the SME’s technological maturation efforts.
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