平特五不中

The Chwang-Seto Innovation Fellowships Program

The Chwang-Seto Innovation Fellowships Program supports the recipient and the team on the development of a technology in order to bring it closer to the marketplace and allow the fellow to gain further knowledge and experience in business and technology commercialization. Up to $50,000 is awarded as a grant to the Principal Investigator in order to fund the eligible 平特五不中 Faculty of Engineering PhD student or postdoctoral researcher to carry out the project full-time within 1 year maximum. This current program is made possible thanks to the Chwang-Seto families, in honour of the late Ronald Chwang (B.Eng.'72, D. Sc.'12), a pioneering entrepreneur and venture capitalist who served on the Faculty of Engineering Advancement Board.听 Previous donors included Pasquale DiPierro and Cesar Cesaratto.

Since 2017, we have awarded $250,000 in Innovation Fellowship grants to 5 projects involving 11 professors and post-docs (18% female participants) who have also received personalized mentorship in addition to funding to help advance their research towards commercialization.

Program Objectives

  1. Advance the technology from a minimum of TRL3 to TRL5 or higher in conjunction with targeted market needs/opportunities.听
  2. Significantly increase the likelihood of creating a 平特五不中 spinoff听company or licensing the technology to an existing company.
  3. Provide an opportunity for the inventors to focus on the development of their invention while acquiring business and technology commercialization skills as part of the innovation process.

Key Benefits

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Project grant to further advance听technology commercialization

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Personalized mentorship and training from our听Ronald-Chwang Entrepreneurs-in-Residence

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Development of innovation and entrepreneurship skills听

Innovation Fellowship Key Dates

DESCRIPTION DATE
Call for applications opens August 1, 2024听
Deadline to submit an application November听3, 2024, 11:59PM ET

Finalists selected

November 12, 2024

Finalist presents (in person)听to the Selection Committee. File chwang_seto_innovation_fellowship_2024_presentation_guidelines.docx
Each application is evaluated by a Selection Committee comprised of external and internal reviewers.

November 12, 2024听to November 20, 2024

Awards announced

November 21, 2024
Project begins January 6, 2025

Project ends

January 6, 2026

Application Details

Eligibility/Requirements

  • Application: Late or incomplete applications will not be reviewed. You can send your draft application for review prior to the deadline to the Engine's associate director, katya.marc [at] mcgill.ca (subject: Draft%20Innovation%20Fellowship%20Application%20Review) or to one of the Ronald Chwang Entrepreneurs-in-Residence.

  • Lead Applicant:

    • Current postdoc听at 平特五不中 Faculty of Engineering or a PhD student who has successfully defended their thesis at 平特五不中 Faculty of Engineering by the time of the award.

    • Co-inventor or has worked on the invention, along with a full-time professor at 平特五不中听Faculty of Engineering, on an active report of invention backed by the听平特五不中鈥檚听Innovation听and Partnerships office, I+P.听The professor cannot hold an Engine gap funding grant (TechAccelR, WRSA) for the same invention at the same time as this project grant.

  • Invention:听

  • Project Timeline:听Projects can last up to 12听months maximum, projects can be completed earlier.

  • Project Expenses: At least 80% of the grant must go towards the salary for the听eligible postdoc or PhD student to work full-time on the project.
    A maximum of 20% can be spent on product and process development costs towards achieving technical milestones (e.g., materials, equipment).

    • Eligible Expenses:
      • stipend/salary for the eligible PhD student or听post doc
      • product and process development costs (e.g., materials, equipment, personnel)
    • Non-Eligible Expenses:
      • publication costs
      • patent fees
      • incorporation fees
      • travel costs听

Evaluation Criteria

  • Applications will be evaluated based on:

Evaluation Section Percentage Allocated Description
Problem Statement 20% What is the problem being solved? Does the proposed solution fill an unmet need? Are your target customers clearly outlined? Have you validated the problem with your target customers?听
Proposed Solution/Approach听 25% Is this a novel, not obvious, and potentially disruptive technology? Has the competitive landscape been identified? Any customer/end user validation?
Technology Development and听Commercialization Plan听 25%

What is your project? Is there proof of concept already? What is the IP strength and stage of development both of technology and market validation? Is there a strong potential impact or market need?听

What is the assessment of the patentability, third party rights, marketability, and commercial potential of the invention/technology? Have the business challenges been acknowledged?听听

Will this Award greatly help move the technology towards commercialization, e.g. will it attract and accelerate follow-on funding from other sources, significant/relevant technical milestones will be achieved (e.g. go/no-go proof, improved scope and value of the IP, prototype for MVP).听听

Project Budget by Milestones and Funding听 20% Does the proposal clearly identify the key technology development milestones and deliverables? Are the planned expenditures appropriate and justified?听
Team and Collaborators听 5% Who are the current team members? Has the additional talent needed throughout the project been clearly identified?听听
Presentation and Q&A 5% In-person presentation by lead applicant to the Selection Committee with Q&A.听 Communication clear? Enthusiasm and desire for innovation?听听File chwang_seto_innovation_fellowship_2024_presentation_guidelines.docx

How to Apply

Application deadline is November 3, 2024 at 11:59 PM ET听

Selected applicants will need to complete an in-person 10-15 minute presentation to the Selection Committee

Terms of the Award

  • Timeline:听The Chwang-Seto Innovation Fellow has up to 12听months to work full-time on completing their project听milestones听and deliverables. Unused funds will need to be returned.

  • Award: The award will be dispersed into a new account under the PI.

  • Reporting: Mid-term report,听final report and presentation听are due to the Engine's associate director and the team's assigned mentor showing the project鈥檚 current status, status of IP, commercialization and development plan progress/next steps, and the听use of funds. In addition, self-assessment questionnaires and program evaluation feedback will be required.听

  • Participation:听Participate in surveys and requests for feedback in connection with the procedures and services provided by the 平特五不中 Engine, with the aim of collaborating in the continuous development of its global offer, research commercialization support, and student experience.听

  • Mentorship & Training: Meet with assigned business mentor on a regular basis throughout the program (minimum once per month). Attend Engine's entrepreneurial skills development workshops or other entrepreneurial training as suggested by mentor.

  • Outreach Activities: Willingness to assist the 平特五不中 Engine in outreach activities pertaining to technological innovation and entrepreneurship.

  • Promotion: Acknowledgement and promotion of听the program and the 平特五不中 Engine听in publications and communications arising from the project through your own networks and events.

  • Consent:听Consent to the publication of your picture, name, as well as pictures and names of co-applicants, the title of the project, and amount of funding.

  • Giving back:听The 平特五不中 Engine does not take equity in 平特五不中 spin-off companies. There is an expectation, but no requirement, that participating researchers will make a non-binding charitable pledge听to 平特五不中 Engine aimed at sustaining the activities of the 平特五不中 Engine Centre and helping the next generation of technological innovators and entrepreneurs that the Centre supports.听Funding is听not听conditional on a researcher signing a pledge.

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