Health Innovation Bootcamp

The Health Innovation Bootcamp is a fast-paced, rigorous, and collaborative educational opportunity that teaches you the foundations of health entrepreneurship, with a focus on innovative therapeutics and diagnostic technologies. Over the course of 5 two-hour sessions held in-person at The Clinic @ Mac, you will work with your peers to articulate the value of your research from a commercialization lens. You will learn and apply principles of intellectual property, product-market fit & competitors, business model development, and fundraising to exit academia for the development of your innovation directly from MGD Health ICE educators and our network of experts.

Through the Health Innovation Bootcamp, research graduate students and postdoctoral fellows will have the opportunity to learn and apply the following skills to their own research projects:

Session 1: Intellectual Property

1. Identify and define the various forms of IP protection
2. Implement the concept of prior art and how to research instances of prior art when considering the novelty of your own research
3. Express how the IP filing approach and regulations at McMaster apply to your research project
4. Consider the timelines and repercussions of disclosing inventions as it relates to filing IP into your research plan

Session 2: Product-Market Fit and Competitors

1. Develop a plan for identifying and validating market need for your innovation
2. Identify and define potential customers and market segments for the marketable product of your research
3. Express how the competitive landscape would be evaluated in your field
4. Describe how to develop a target product profile for your work

Session 3: Business Model Development

1. Define the common business models that can be leveraged in your biomedical sector
2. Apply concepts to develop a pricing and revenue generation strategy that applies to your project
3. Identify the costs and benefits associated with different exit strategies (licensing vs. newco creation) or revenue models
4. Describe the necessary steps and considerations to get the product into the clinic. 

Session 4: Fundraising to Exit Academia

1. Recognize potential sources of outside funding for a new venture and the supports that are available in our local ecosystem
2. Describe the difference between for profit vs. non-profit entities and which option is ideal for your sector
3. Consider funding strategies that leverage dilutive and non-dilutive funding sources
4. Identify grant opportunities available for advancing technologies in the Canadian landscape that can apply to your research focus

Session 5: researchers will have the opportunity to discuss their strategy for commercializing their ongoing laboratory research.