“BioCreate” program partnership helps early-stage genomics companies bring new products to market
Recently, we shared how Cleantech Commons is partnering with Ontario Genomics to help early-stage genomics companies bring new products to market.
Other program partners include Velocity (Waterloo), McMaster Innovation Park/Synapse Life Sciences Consortium (Hamilton), and Toronto Metropolitan University Science Discovery Zone (Toronto).
Ontario Genomics’ BioCreate program is open to ventures in southern Ontario seeking to commercialize genomics and engineering biology-enabled products and/ or technologies in the health, food and agriculture, and cleantech sectors at a Technology Readiness Level (TRL) of 4+.
BioCreate will provide funding, access to mentorship, and business support to help companies bring new products and technologies to market.
Program Highlights
- The multi-phase BioCreate program will include direct, non-repayable funding of $150,000 that will be matched by an additional $100,000 (minimum) from participating companies to a total project size of $250,000 or more.
- Funded companies will have access to 18 months of intensive business mentorship and critical infrastructure provided by Ontario Genomics’ strategic sectoral and regional partners.
- Each cohort will conclude with an investor showcase, giving the companies an opportunity to pitch to investors and potential partners.
The BioCreate Program will consist of three phases
Phase I: BioCreate Investment – The BioCreate expert panel will evaluate the market potential and technical feasibility of eligible applications, based on the evaluation criteria defined in the Program Guide. Successful applicants will receive up to $150,000 in non-repayable funding and must contribute $100,000 minimum to leverage the funding for their 18-month project.
The application process consists of three stages:
- Expression of interest.
- Invitation to submit application/submission of a written application.
- Pitch to BioCreate Expert Panel.
Phase II: Intensive Business Mentorship – During the course of the funded project, the BioCreate program will support technology and business development to successful applicants through business mentors, patent expertise, regulatory support, and other support as defined by the needs of the company.
Access to infrastructure will be facilitated through the program partners, depending on company needs and location. The BioCreate program’s strategic sectoral and regional partners include Velocity (Waterloo), Synapse Life Sciences Consortium (Hamilton), Toronto Metropolitan University SDZ (Toronto), and Cleantech Commons (Peterborough).
Companies in the programme will also work with one or more BioCreate partners and the Ontario Genomics BioCreate team to develop a pitch deck to present at the Investor Showcase in Phase III.
Phase III: The Investor Showcase – After the successful completion of the 18-month program, teams will participate in an investor showcase where they will pitch to an audience of regional enablers and investors in an effort to receive follow-on investment.
Application Steps and Dates
Interested companies should submit a BioCreate intake form at any time.
Following the submission of your BioCreate intake form, a representative from the BioCreate team will reach out to you to discuss your project idea.
Eligible applicants will be invited to submit an application.
Interested applicants should review the Program Guide for more information on the BioCreate program, including eligibility requirements and evaluation criteria.
If you have questions, please contact BioCreate@ontariogenomics.ca.
The deadline to submit an intake form to be considered for Cohort 1 is December 15, 2022. Additional details related to the program and the application process can be found by following this link.
Complete the intake form now to find out more about your company’s eligibility!
The BioCreate program is supported by the Government of Canada through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) and Ontario Genomics. The current budget is greater than $7 million over five years.