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MSF Application Requirements

MSF APPLICATION REQUIREMENTS

Description:

The purpose of the Fund is to invest in new business ventures that involve one or more members of the McMaster community AND is translating research or knowledge created at the university or its affiliated hospitals into socioeconomic benefits.

  • Funding cap of $250,000 per application

Eligibility Criteria of Applicant:

  • Minimum of one (1) founder, key officer, or personnel must be a member of the McMaster Community (defined as faculty, staff, student, alumni, worked or studied at McMaster)
  • Must be incorporated for-profit entity or plan to be prior to investment.
  • Must be further developing an innovation, technology or knowledge arising from McMaster research
  • Must be planning to create a socio-economic impact with a scalable commercial offering that will have the potential to have a return on the investment

Investment Criteria:

  • Market opportunity / application identified and customer validation– can be early, but should be well thought out and have had discussions with potential customers.
  • Must have an intellectual property strategy or competitive advantage identified, regulatory pathways (if applicable) are considered.
  • Minimum of two (2) employees will be dedicated to the company after investment is made.
  • Appropriate use of funds with an understanding and reasonable, achievable plan to get to next value inflection point
  • Minimum Technology Readiness Level (TRL) = 4 (https://www.ic.gc.ca/eic/site/101.nsf/eng/00031.html )
  • Alignment with McMaster’s strategic plan, e.g. fits with at least one United Nations Sustainable Development Goals, and demonstrable benefit to Canada.