Canada-Chicago Mentoring Program (C2MP)
February 10, 2016, Chicago, Illinois

 

The Consulate General of Canada in Chicago successfully partnered in 2015 with the Chicago Innovation Mentors (CIM) to provide a comprehensive mentoring program for three Canadian life science and healthcare entrepreneurs.

 

The Consulate is pleased to announce that the program has been renewed for 2016. The Consulate will again be able to funnel three Canadian start-ups through CIM’s mentoring program. CIM encourages innovation, catalyzes tech commercialization and creates stronger entrepreneurs through an institutionalized mentor/mentee program. CIM is by definition multi-sectoral, but admittedly is life science heavy. CIM is unique in Chicago as it is the only organization in the region that has developed a structured mentoring program in the life science sector and that it brings together so many important players under the same umbrella.

Background on CIM

1. The organization was created by five founding members: Argonne National Laboratory, Northwestern University, PROPEL, University of Chicago, and University of Illinois – all key institutions in the innovation and commercialization ecosystem of Chicago. It leverages the resources, the talent, the R&D capacity and the business acumen of each of them to deliver on their programming. Through this partnership, each member is allowed to present a certain number of start-ups (also called mentees or ventures) to be mentored over a period of 6 months.
2. To date, CIM has accumulated 180 mentors and mentored more than 157 venture teams, 82 of which have graduated the program. Mentors have expertise in business planning, market development, coaching, team formation, financial planning and manufacturing. As an innovation organization, it is linked to some of the big-pharma and medtech companies in the territory as well as to the newly created healthcare incubator supported by the State and private sector: MATTER. It has solidified itself as one of the premier innovation organization in Chicago for life sciences where capital providers, corporate strategics and key decision makers connect with emerging innovators. CIM today has the reach and the reputation to attract the right people.
   

More information on Chicago Innovation Mentors : http://www.chicagoinnovationmentors.org  

Canada-Chicago Mentoring Program (C2MP)
With this renewal, the Consulate General of Canada in Chicago is continuing to raise Canada’s life science profile. With your help, we would like to recruit highly qualified innovative Canadian companies to take part in our second Canada-Chicago Mentoring Program. The selection of the three companies will be done by the Consulate and CIM’s key mentors. We would like to underline that the objectives of the program are to provide strategic guidance and to gain the right tools and knowledge to penetrate this market. The program is not aimed at providing sales leads to the companies but focuses on the analysis of the Canadian companies’ business models & US strategy. The program will be in three parts:

Part 1: Orientation to the program (January 2016)

• Participation in a webinar with the Consulate and CIM to go over the details of the mentoring program

Part 2: Day of Acceleration (February 10, 2015)

• Participation in a morning program organized by the Trade Commissioner Service
• Pitch and showcase the technology during the Chicago Innovation Mentor monthly meeting
• Meet potential mentors and network with key Chicago contacts in the life science industry
• Gain insights on the characteristics of the Chicago market that can improve chances to success

Part 3: Six Month Mentoring Program (Mid-February-Mid-August 2016)

• Be matched with a team of 3 to 5 mentors (companies will be assigned a lead mentor)
• Engage the team of mentors to analyze and refine business plans. Be prepared to be challenged!
• Be connected with the Chicago business community

Methodology

1. Part of the mentoring will be done virtually (emails, conference calls, videoconferences)
2. In addition to the first meeting planned for February 10, the Consulate will push for one meeting a month: 4 meetings will be done by conference call or videoconference and 2 will be face-to-face with the mentoring team

Targeted sub-sectors for the program

• Pharmaceuticals
• Health IT
• Medical Devices

Company criteria for acceptance

• Canadian small enterprise with a potential for high growth
• Proprietary technology
• A business plan
• Initial traction in the marketplace
• Looking for mentoring & be prepared for critique of business plan & strategy for market access
• Successful in securing funds – from investors, grants, or sales to customers
• Resources to visit the market three times to meet with the mentoring team

Next steps
We have identified different levels of engagement for your consideration.

1. Assistance in sharing this opportunity and/or identifying qualified Canadian companies that could benefit from this program
2. Participate in the day of acceleration on February 10, 2016.
   

View details about the Canada-Chicago Mentoring Program  and the company profile template.

Questions?  Please contact:
Alexis Roy, Consul and Investment & Innovation Program Manager (312-327-3631) or
Chantal Glass, Trade Commissioner (312-327-33626).