Entrepreneur in Residence Stream 2
This stream operates on a cohort-based model and is intended to support faculty who have expertise leading commercialization projects through previous training, EiR program support and or commercialization projects. Participants in this stream should have the capacity (i.e., time and/or personnel) to accelerate the growth of their commercialization efforts. The intent of this program is to support these individuals with a diverse advisory group to better prepare them for scaling and maximizing the value they can create.
The target faculty member will:
- Have experience commercializing research
- Have identified an initial team to support commercialization
- Have established problem solution fit (i.e., Validated there is commercial potential for technology)
- Have a demonstrated commitment to commercialization of their research
Successful applicants will be awarded up to a total of 60 hours of support with up to 3 EiRs who offer different resources and expertise over a 1 year period. Faculty have an opportunity to request EiRs that they believe will help them address a specific challenge they are facing.
The principal applicant must hold a faculty appointment within the Temerty Faculty of Medicine at the time of submission and be able to demonstrate their commitment to commercialization.
The EIR program is a staged process to ensure only faculty that will benefit from the program are selected for support:
Stage 1 – Initial Review
Faculty will apply for support via an online application form. The initial review of the EiR proposals will be conducted by the program manager and EiR. This review will ensure the faculty members meet the program requirements and that EiR have the experience and networks to support faculty accepted into the program. If necessary, further clarification and discussion with applicants will occur.
At this stage, the EIR and program manager evaluates each proposal and assesses its merits and alignment to the EIR program.
The EIR program is intended to support faculty who have experience with commercialization projects, demonstrate an entrepreneurial mindset and have validated the basic market need of their technology.
Applications to this program are adjudicated based on the following criteria:
1) Validation of market need
2) Initial commercialization plan
3) Initial commercialization team
4) Commercialization experience of the PI
5) Availability of suitable EiR
6) Justification of need - how the EiR will directly support the project’s goals
A maximum of 10 applications will be recommended for EIR support on an annual basis.
Stage 2 – Steering Committee
At this stage recommended faculty will be submitted to the Steering Committee for final approval and feedback. The Steering Committee will be able to offer insights into how the EiR program can best support a project or reject the application if they feel it is not a fit for the EiR program.
Stage 3 – EiR Confirmation
If selected for support, faculty will be informed of their acceptance into the program and the EiRs identified to assist them. Faculty will be given the option to accept pending acceptance of the EiRs. Program staff will confirm availability of EiRs and finalize program acceptance. Program staff will also work with faculty to recruit any requested EiR. This process may be iterative based on EiR availability.
Stage 4 – Engagement ‘kick-off’ and recurring updates
Once all participants have accepted, information packages will be sent to both faculty and EiRs to help them get the most out of the program. This may include the program application for EiRs to review and a guide including options on how faculty can get the most from the program. Beyond regular meetings between EiR and faculty the following program touch points will also be scheduled.
To initiate the cohort, a 90min introductory meeting between EiR and faculty will be scheduled. This meeting will allow for the group to meet each other and the faculty to present their goals for the program.
Quarterly in person updates
Once a quarter teams will meet with the panel of core EiR to present a 5-10min pitch and or update. The goals of these sessions are; 1) to allow the faculty to get feedback from a broader group of EiR 2) Allow for peer learning and support among faculty.
In between sessions the faculty member will be responsible for arranging all meetings and developing a plan with the EiR team that will help them meet their goals.
Stage 5 – Engagement Wrap-up
Following the completion of the program both the EiRs and faculty member will be asked to complete a simple (1pg) reflection on the program, how it helped them meet their goals, how the program can be improved and what are their next steps in the commercialization journey. This form will be supplied by program staff and should be completed with in 60days of the conclusion of the engagement.
For more information, please contact Jarrod Ladouceur.