Deadline: 18-Oct-22
Applications are now open for Lab2Market West Program Cohort 4 which brings a scientific approach to entrepreneurship that will help researchers assess and reduce the commercial risk associated with their projects.
Participants will form hypotheses about their potential customers, business model, and market entry point. These hypotheses are then validated through market research. The data collected is analyzed, adjusted, and then iterated upon. In this way, participants gain clarity on their project’s commercial feasibility and their path to market.
Details
L2M West Training Bootcamp: (5 consecutive days)
- The focus of Bootcamp is to introduce participants to the world of entrepreneurship and inspire them to take the first steps towards commercialization. Participants will be welcomed into a community of like-minded and driven individuals with diverse research backgrounds. They will hear from successful founders who have been in the starting position and can share their experiences. Students will learn the principal market research methodologies and techniques put into practice throughout the core program.
Opening Ceremonies & Orientation
- Core Program: Market Validation & Customer Discovery – Classes 1-11
- This is an intense and fast-paced period made up of class once a week, facilitator office hours, mentor sessions, and customer interviews. participants will be supported by a vast entrepreneurial network of advisors, industry experts, and business resources. In addition to receiving market research support, participants will also receive in-depth presentations on various entrepreneurial topics, the purpose of which is to bring new information to light, form and refine hypotheses, and help analyze the data.
Funding Information
- Eligible participants receive CAD 15,000 (Mitacs funding) to aid their innovative research.
Use of Fund
- Of the $15,000, $10,000 is to be paid to the Entrepreneurial Lead as a stipend over the duration of the program. It is expected, as stated above, that the student works full-time on the project. This includes all program-related activities and the work stipulated in the Mitacs Accelerate proposal.
- $5,000 will be held by the TL for program-related expenses. These expenses must be tri-council funding eligible.
Eligibility Criteria
Applicants must apply in teams consisting of a(n):
- $5,000 will be held by the TL for program-related expenses. These expenses must be tri-council funding eligible.
- $10,000 is paid to the Entrepreneurial Lead as a stipend throughout the program. It is expected, as stated above, that the student works full-time on the project. This includes all program-related activities and the work stipulated in the Mitacs Accelerate proposal.
- Eligible participants receive CAD 15,000 (Mitacs funding) to aid their innovative research.
- Technical Lead (TL) – The principal investigator of the research project. The TL is expected to participate in select training sessions and assist the EL throughout the program.
- Applicant must be a graduate student (Master’s or Ph.D. level) or postdoctoral fellow (graduated within five years).
- The proposed project must be realistic and technically feasible.
- Project must be the focus of the graduate student/postdoctoral fellow applicant’s study and research.
- Graduate student/postdoctoral fellow must receive permission from their research supervisor to work on Lab2Market West full-time.
- Entrepreneurial Lead (EL) – A full-time graduate (Masters or Ph.D.) student or postdoctoral fellow within five years of having finished their graduate degree. The EL is expected to work on the project full-time over the duration of the program and must represent the team in Bootcamp and all Core classes.
Evaluation Criteria
- Size of the problem you are solving (can you clearly define how your innovation solves a problem?).
- The novelty of the innovation/research.
- Market potential and impact.
- Commitment to the Lab2Market West program.
For more information, visit https://lab2marketwest.ca/program/