Research and Development Funding Challenge Open to Startups

If you possess an innovative healthcare, biotechnology, or life sciences product or service technology be sure to register for The Sanofi Pasteur Healthcare and Biotechnology Venture Challenge. The Ontario Network of Excellence, ventureLAB, has announced a competition open to technology innovators all across Ontario. This unique competition will:

  • Foster an entrepreneurial culture
  • Encourage collaboration to strengthen relationships between business and academic communities
  • Offers entrepreneurial business students opportunity to work with innovative entrepreneurs to develop real world business proposals or commercialization plans

Research and Development Funding Competition Details

Successful applicants will be invited to an event at York University’s Schulich School of Business where they will be given the opportunity to network with top MBA students that want to participate in this competition and help your organization create a structured business plan to help commercialize your technology.

Challenge Steps

  • First phase includes the Executive Summary
  • Summaries will be judged for commercial feasibility
  • 10 semi-finalists teams will be selected to produce a complete commercialization plan
  • Teams assigned a mentor who possesses extensive experience in commercializing technology
  • Teams submit a commercialization plan that will be judged for commercial feasibility, risk and growth potential
  • Three winning teams will make their final business presentation on stage and compete for the grand prize
  • 1st place provided by Sanofi Pasteur will receive $7,500
  • 2nd place provided by Bereskin & Parr and OCE will receive $5,000
  • 3rd plaze provided by Dalton Pharma Services, Ontario Research and Innovation Optical Network (ORION), Royal Bank of Canada will receive $3,000

Competition Prizes

This competition is not open to companies that have raised over $250,000 in capital  or have assigned or exclusively licensed their intellectual property to companies that have raised over $250,000 in capital, or who expect to do so before December 31st, 2012.

Want More Canadian Government Funding Support?

For more information on Canadian business funding mechanisms, please be sure to contact Mentor Works, the Canadian Government Funding Experts or attend a Government Funding Workshop.  You can also receive current Government funding updates by following us on Twitter or adding us on Google+.


Leave a Reply

Your email address will not be published. Required fields are marked *