The Fellow must have a meaningful equity stake in the new venture, specifically, at least a simple majority of the shares outstanding. There can be multiple co-founders, but the Fellow must have the largest ownership of shares.
We recognize the current challenges surrounding relocation and are flexible to exploring a transition period before having to relocate. We are available to discuss your concerns.
The Life Sciences Innovation Hub's programming is funding in part through the generous support from Calgary Economic Development's Opportunity Calgary Investment Fund, Alberta Economic Development and Trade, and Western Economic Diversification.
Alberta Innovates partnered with Innovate Calgary to design and fund a third round of the Life Sciences Startup Fellowship with a focus on increasing entrepreneurial capacity and startup creation in areas of strategic importance to Alberta (e.g. Digital Health).
The stipend must cover the Life Sciences Fellow's salary. The startup funds can include expenses relating to the business: operational expenses, intellectual property, prototyping, and market development costs. There are some exclusions, including capital purchases, journal fees, degree or certification costs. Full details are outlined in the Life Sciences Participation Agreement.
The stipend and reimbursement for eligible expenses are transferred monthly to the Life Sciences Fellowship company.
To request a copy of the Participation Agreement, email Jim Wilson at firstname.lastname@example.org
The Life Sciences Fellows will work full-time in their startup working towards the outcomes listed earlier, including business development, customer discovery, market research, business planning, financial modelling, and building the team and advisors. Additionally, it may include continued research and development, or clinical trials.
Approximately one day per month is allocated for Professional Development workshops.
The Fellowship is two years in duration, starting in January 2021. Fellows participate full-time for two years. The Fellowship may be terminated if: the Fellow can no longer participate full-time; the startup is acquired without the Fellow continuing in a leadership role; the activity of the Fellow or company diverges from the program objectives, or the Fellow decides to terminate. Funding ceases when the Fellowship is terminated.
Life Sciences Fellows will have access to up to 100 hours per year of consulting and mentorship from an Expert Advisors group. These advisors have extensive business experience and connections within the life sciences sector, with expertise in regulatory, finance, marketing, governance, business strategy, communications, and more.
Review our Expert Advisor list here.
Applications for the third cohort of the Life Sciences Fellowship program can be submitted online.
Application deadline: Midnight (MST) Sept 15, 2020.
No. You do not need to be affiliated with the University of Calgary and yes, we welcome applicants from out of province, other institutions, and the broader community.
Yes. We are open to collaborating with others to best support the development of life science startups.
Yes. We are accepting applications for a broad range of life sciences applicants. Some awards will be specific to digital health, however, others will be awarded for general life sciences applicants.
The Fellowship provides $200,000 of funding allocated as:
The Life Sciences Startup Fellowship program is structured around the creation and growth of a startup. As such, Fellows will need to incorporate a company with the Fellow serving as a founding CEO, or senior-level executive.
If the company is incorporated provincially, or nationally, it must reside in Alberta. The Fellow is not an employee of Innovate Calgary, or the Life Sciences Innovation Hub. The Fellow is an employee of the startup.
The Life Sciences Fellowship includes Professional Development workshops to provide an experiential learning framework to help Fellows manage the startups’ launch and growth.
Workshops are prepared by experts in R&D commercialization and company creation. Topics include: ·
The format for professional development will be workshop-based, followed by company-specific milestones and mentorship.
Yes. The Life Sciences Fellowship startup company has access to one desk and bench space in a shared laboratory at the Life Sciences Innovation Hub. Review the LSI Hub Equipment List.
Life Sciences Fellows are expected to locate their companies in the Life Sciences Innovation Hub in Calgary.
Participation in the Fellowship program itself does not have any equity, royalty, or repayment obligations to Innovate Calgary or the University of Calgary.
However, it is common to transfer intellectual property into the startup company. If the intellectual property originates at the University of Calgary, then the startup must meet the revenue-sharing obligations as stated in the University of Calgary’s Intellectual Property Policy. Similarly, if the Life Sciences startup company acquires intellectual property from another institution, it will have to comply with that institute’s policy. The company must meet any revenue sharing obligations within 90 days of signing the Participation Agreement unless otherwise agreed to by Innovate Calgary.
Applications will be reviewed by a Selection Panel based on the following criteria: