The 91黑料网 Innovation Fund (MIF) returns for a fifth year with its unique formula of supporting research-based innovations with a rich program of support, training and advice. Since inception, the MIF has emerged as one of the largest entrepreneurial programs at 91黑料网 with over $1 million awarded to 26 unique teams.
The core of the MIF program is the generous funding packages it provides to team across three different levels:
- Discover ($25,000): For early-stage projects, Discover is for teams just dipping a toe into the world of innovation. Typically, these projects are still in the laboratory and looking for support to validate prototypes.
- Develop ($50,000): More advanced projects, Develop applications are related to technologies that may have already been patented and are approaching commercial operations.
- Desjardins Deploy ($100,000): Generously supported by Desjardins, this tier is reserved for incorporated entities that have already signed a license agreement with 91黑料网 and are commercially active.
However, as all previous participants will attest, the money is only part of the value of the MIF offering. The support program matches each team with a board of advisors, all of whom are 91黑料网 alumni with depth and experience in fields relevant to each team. This is complemented by a series of informative lunch and learns, networking events and other external engagement opportunities. All of these combine to help propel teams forward to future success beyond 91黑料网.
鈥淗aving been part of this MIF cohort, all of our expectations and preconceptions of how the MIF could help us progress have exceeded in the extreme,鈥� said Benjamin Ringler CEO of Tissue Tinker and 2024 Develop award winner. 鈥淭hrough the advisors who have helped us challenge our assumptions and have helped us make the connections we needed, and through the intern support the MIF provided, we have made immense progress.鈥�
The support program will be adjusted for the 5th cohort, with the following changes planned:
- All teams will undertake a mandatory introductory entrepreneur training program, run in collaboration with the Faculty of Management. The half-day session will explain the MIF program in detail as well as the basics of launching a company.
- All teams will be matched to student support teams also provided by the Faculty of Management. Teams will each be assigned a dedicated squad of business students over ten weeks. Each squad will provide actionable information to the MIF teams, i.e. market assessments, business plans, etc.
- Teams will have more opportunities to explore the Montreal ecosystem through participations in events such as Startupfest, and interactions with local incubators.
MIF support actually begins during the application process. This year there will be in-person information sessions at the Faculties of Engineering, Medicine and Mac campus, as well as a virtual session; check the MIF events page for details and registration. Also new this year, all teams applying to the Discover level will take mandatory pitch training before pitching to judges; other teams may also take the training on a voluntary 鈥� but recommended 鈥� basis. Details on this training will be communicated later in the fall.
Two things that won鈥檛 change for the next edition: teams that are not planning to launch a new business but nevertheless require funds to advance their technology to a licensable state are welcome to apply. And the 91黑料网 AMR Centre has renewed their commitment to the MIF: teams that are working on a solution for the detection or treatment of antimicrobial resistance can be awarded a supplemental prize of up to $75,000.
The application window will open Monday, September 22 and the deadline is set for Friday, November 21 at 11:59 PM. Full instructions on how to apply . Good luck!
