NeuroSphere Emerging Entrepreneurs Program

NeuroSphere is McGill University’s Neuroscience Innovation Accelerator funded through Healthy Brains, Healthy Lives (HBHL).​ With the support from the Canada First Research Excellence Fund (CFREF) and Quebec’s Ministère de l'Économie, de l'Innovation et de l'Énergie (MEIE), NeuroSphere has been the go-to hub for innovation and entrepreneurship in neuroscience at McGill since 2019. NeuroSphere offers dual support through strategic and commercial guidance for projects, as well as assistance for individuals honing their entrepreneurial skills in the field of neuroscience.

NeuroSphere prioritizes providing opportunities for students to engage in brain health research and innovation. In alignment with this commitment, NeuroSphere is pleased to announce the NeuroSphere Emerging Entrepreneurs Program.

Overview

This paid program aims to provide students who are in late-stage undergraduate programs at the Desautels Faculty of Management with a meaningful opportunity to gain practical experience with startup (or potential startup) companies. Graduate students are also eligible for this opportunity if they have completed an undergraduate degree in a management-related program or are currently enrolled in a program at the Desautels Faculty of Management.

The NeuroSphere Emerging Entrepreneurs Program offers trainees a unique chance to work at the intersection of management and neuroscience, bridging the gap between theoretical knowledge and real-world application. Through this opportunity, trainees will develop unique skills and receive mentorship from the NeuroSphere team and from the teams of relevant NeuroSphere-supported projects, deepening their understanding of the biotech and medtech innovation sector.

Trainees with skillsets and expertise relevant to entrepreneurship will support innovative projects while gaining valuable hands-on experience. This multidisciplinary opportunity provides aspiring business leaders with unique skills and insights into the rapidly evolving health sciences sector and will allow them to bring complimentary value to more science-focused startup teams (or similar projects) and contribute to innovative projects in the field of neuroscience.

Trainees will complete a mid-term survey for the NeuroSphere team and a final report of their activities and project milestones no later than one month following the end of the program (end of program Dec. 31, 2024). A limited number of awards will be available on a competitive basis.

Bridging neuroscience and management

The following case studies outline examples of the needs of certain projects. Selected candidates can anticipate being paired with a team whose needs align with their skillsets and expertise.

Business and Marketing:

1. A startup has developed an innovative approach to improving accessibility to ophthalmological diagnosis and needs a comprehensive business plan and marketing strategy. These documents will attract investors, outline operational strategies and identify market opportunities, ensuring efficient resource use and competitive positioning.
2. A research imaging center seeks to diversify its user base by crafting a unique value proposition. It has a limited market penetration (primarily serving McGill researchers), despite global leadership in several domains. Interviews with researchers will be required to create a clear value proposition and targeted promotional materials for industrial users (particularly in pharmaceutical preclinical/clinical trials) and external researchers.

Digital Marketing and Web Development:

1. A startup needs to revamp its website and build a digital marketing strategy. This will include optimizing web design, building a social media presence, thinking about brand visibility and encouraging engagement. The goal of this integrated approach will be to boost brand credibility, attract potential investors and ensure competitive positioning in the market.

Competitive analysis for product development and prior art analysis:

1. A startup developing innovative solutions seeks assistance in identifying competitors and understanding the technology landscape, including prior art search. This effort aims to guide product development towards creating a unique value proposition and achieving a commercially viable end-product.
2. A large laboratory is exploring the feasibility of establishing new in-house therapeutic development capabilities over the next five years. This internal initiative requires developing a strategic plan with operational goals, cost projections for staffing and capital investment, as well as conducting a comprehensive review of key stakeholders in the field.

Eligibility criteria

To be eligible for NeuroSphere’s Emerging Entrepreneurs Program, students must meet the following criteria:

• Be enrolled at McGill for the Fall 2024 semester and be one of the following:
  • A student in late-stage undergraduate programs at the Desautels Faculty of Management (U3 or above), OR;
  • A graduate student that has completed an undergraduate degree in a management-related program and/or is currently enrolled in a graduate program at the Desautels Faculty of Management
• Following the invitation to the video submission phase, submit a 90-second video by September 1, 2024, at 11:59 p.m. EST

NeuroSphere strongly encourages individuals from underrepresented, equity-deserving backgrounds to apply, welcoming applications from individuals in racialized communities, women, gender minorities, individuals with disabilities, 2SLGBTQIA+ students, Indigenous students, first-generation students, primary caregivers and students from lower-income backgrounds. NeuroSphere welcomes applications from all eligible applicants with the skills and knowledge to engage productively with diverse communities.

How it works

• The Emerging Entrepreneurs Program is hosted by NeuroSphere.
• Students must list and demonstrate the relevant skills and expertise they possess in their application form.
• Candidates selected in the application round will be contacted by NeuroSphere to submit a 90-second video. Videos will be evaluated, and successful candidates will be selected for the Emerging Entrepreneurs Award.
• NeuroSphere will pair selected students with a project based on the relevant skills and experience mentioned in their application and video presentation.
• Participating project teams will supervise selected students (with the support of NeuroSphere) for a project that will require approximately 15 hours per week for the Fall semester (or the equivalent by the end of the semester) (September 16, 2024, to December 31, 2024). Please note that no academic credits will be awarded for the completion of the program.
• Students will receive a stipend up to $5,000.
• The supervising project’s team and NeuroSphere will ensure the participant is provided with the mentorship and training needed to succeed in their placement and project throughout this program.
• Additional workshops through the Life Sciences Lean Startup program from the Dobson Centre for Entrepreneurship will be provided, with mandatory attendance if deemed suitable for the project.

What participating students can expect

1. The student’s work will directly contribute to NeuroSphere’s mandate to help high-potential projects mature, accelerate and move forward towards commercialization. As such, the student will be contributing to a larger project previously funded by NeuroSphere/HBHL.
2. At the time of submission, applicants must fill out the HBHL Equity Self-Identification form as part of their application (see details below).
3. Each student will be provided with a stipend up to $5,000 for their participation in the program and contribution to NeuroSphere projects.
4. Students will be required to dedicate approximately 15 hours per week to this program (this can also include the training workshops organized by the Dobson Centre for Entrepreneurship through the Life Sciences Lean Startup program).
5. NeuroSphere and the supervising team will ensure that their assigned students have a positive social experience, feel connected with their colleagues and are treated fairly and with respect.
6. Students will finish this fall semester program with hands-on experience working in early-stage companies and/or entrepreneurial projects with McGill PIs and their teams. Students will develop a greater familiarity with entrepreneurship relevant to neuroscience applications.
7. Depending on the project needs, students will have access to relevant workshops and trainings to supplement the students learning and gain useful skills to support the project and their career.

NeuroSphere hopes participating students will leave this program feeling empowered and with certain key experiences they can leverage to reach their future career aspirations.

Application Process

The application form will be active on July 18, 2024.

Full Applications for the program must be submitted through the online application form by Sunday, August 18, 2024, at 11:59 p.m. EST.

NOTE: After an initial application review, the NeuroSphere team will contact selected candidates on Wednesday, August 28, 2024, to invite them to the video submission phase. Selected students must submit a 90-second video within four days, by Sunday, September 1, 2024, at 11:59 p.m. EST to remain eligible. Full submission details will be provided in the invitation.

In this video, students should discuss their interest in entrepreneurship and explain how they plan to bring concrete value to a startup. This video will be important to demonstrate confident communication skills and an ability to effectively engage with team members at all levels, including senior PIs/researchers. It is mandatory to respect the four-day timeline for this step.

Selected applicants will be notified in early September, and the program will start on September 16, 2024.

A complete application package must include:

• An explanation of the skills the student has checked off in the application form (this should be included in the letter of motivation).
• Letter of motivation (maximum one page, Arial 11 point): The applicant must provide an explanation of their career objectives and how this award will support their career goals and research development.
• HBHL Equity Self-Identification form
• Curriculum Vitae

All applications must be submitted through the Microsoft Form as a single PDF document. Please save the application document using the following file name format: “Lastname_Firstname.pdf” (e.g., Smith_Jane or Smith_John).

Application Package and Evaluation Criteria

Applications will be evaluated by NeuroSphere based on the following elements:

• Letter of motivation
  • Alignment with career objectives: The applicant outlines their career objectives, showing how well their goals and skills match the opportunities offered by the NeuroSphere Emerging Entrepreneurs Program.
  • Impact on career goals and research: The applicant provides an explanation of how the award will support their career goals including specific skills and experiences that they expect to gain from this program.

Contact

If you have any comments, questions or concerns, please contact the NeuroSphere team at neurosphere [at] mcgill.ca.