Eligibility and expectation

To apply for the Fellowship, applicants must meet the following criteria:

• Have completed their Ph.D. or M.D. within the last two years (exceptional circumstances may be considered)
• Have worked for at least one year on the research project being commercialized
• Have disclosed the research that is being commercialized to the McMaster Industry Liaison Office (MILO) through an invention disclosure prior to submitting the application
• Be a full-time postdoctoral fellow at McMaster University at the start of the Fellowship
• Be fully dedicated to the commercialization of the research project throughout the Fellowship
• Have the support of a faculty supervisor to work full-time on the proposed commercialization project, with the faculty member providing the essential research-related resources (e.g. lab space, consumables, etc.), for the fellow to conduct their commercialization-related work

As a condition of the award, fellows will be required to:

• Participate in entrepreneurship programming available through McMaster (Forge, The Clinic, Lab2Market) or externally (Mitacs i2I Skills Training)
• Participate in quarterly business advisory meetings together with the PI to develop intellectual property, fundraising, and business model strategies – to be organized by the McMaster Industry Liaison Office (MILO) or the Fellow

Fellows are expected to be focused on the following tasks throughout the Fellowship:

• Generating data/creating prototypes that are needed to address customer / market / regulatory requirements and/or to meet investor requirements
• Developing and implementing strategies for strengthening customer engagement, go-to-market planning, revenue generation, IP portfolio, and regulatory pathways (as applicable)
• Fundraising through investor and non dilutive funding sources, including applying for commercialization grants

Application process

Applicants are required to complete an online application form which will be assessed for eligibility and alignment with the program. Eligible candidates will then present an investor-style pitch, articulating their proposed business or product concept, their preparation and background for entrepreneurship, and explaining how the Fellowship will catalyze their commercialization success.

Selection process

The selection panel is chaired by Vice-President Research or delegate and is comprised of a diverse group of experts, including entrepreneurs, investors, executives, and business development professionals. The panel will evaluate the applications based on the following selection criteria: (i) potential for commercialization of McMaster IP through entrepreneurship, (ii) preparation of the applicant for venture development through past programming, relevant courses and experiences, (iii) their commitment and drive to building a career around venture creation, and (iv) the probability that the fellowship will be transformative to the success of the venture.

In assessing candidates, the selection committee will actively adhere to principles of equity, diversity, and inclusion, in a manner that is aligned with the university’s Faculty Recruitment and Selection Policy and guided by the Policy’s companion Handbook.

Awards

The program funds one full-time Postdoc Entrepreneur Fellowship at $75,000 (inclusive of benefits) for one year starting in Winter 2025.

Expected outcomes

The program is expected to enrich the entrepreneurial and commercialization culture of McMaster University, provide entrepreneurial opportunities to postdoctoral fellows, increase the number of entrepreneurial postdocs, and attract and retain top postdoctoral talent.

Deadlines

Application deadline: September 30, 2024 (Closed)
Pitch day: November 19, 2024