Accelerate Program for Quebec Emerging Companies
Highlights
This program is designed specifically for businesses like yours in the Canadian life sciences sector. By partnering with adMare, you gain access to seed capital, scientific and business expertise, state-of-the-art infrastructure, and an extensive network of industry partners. This comprehensive support can help you transform innovative research into successful therapeutic products and health innovations.
Why should you apply?
- Catalytic seed investments: adMare provides the financial means to fuel your company's creation and growth.
- Expert guidance: Over 100 multi-disciplinary experts will work with you from early drug development to commercialization.
- Advanced infrastructure: Access to 225,000 sq. ft. of fully-equipped drug development labs in Montreal and Vancouver.
- Strong partnerships: Benefit from a vast network of national and international partners in academia, industry, and the investment community.
Being approved for this program means you will have the resources and support to reach your next business milestone. The qualification process is straightforward, ensuring that you can quickly start leveraging these benefits to grow your company.
Financing Details
Type of Financing: Loan
Repayment Terms and Interest Rates:
- Repayment Term: Up to 10 years.
- Interest Rate: Fixed interest rate of 3.5% per annum.
Eligible Expenses:
- Research and development costs.
- Purchase of equipment and materials.
- Salaries for research staff.
- Costs associated with clinical trials.
- Intellectual property protection expenses.
Use of Funds:
- Funds cannot be used for:
- General administrative expenses.
- Marketing and sales activities.
- Real estate purchases.
Fees:
- Application Fee: $200, non-refundable.
- Origination Fee: 1% of the loan amount, deducted from the loan proceeds.
- Late Payment Fee: 2% of the overdue amount per month.
Qualifications
- Must be a Canadian life sciences company.
- Must be involved in biopharmaceuticals, medical devices, or digital health solutions.
- Must have a technology with differentiation and competitive advantage.
- Must demonstrate a significant market opportunity.
- Must have a high-quality team.
- Must have strong intellectual property (IP) coverage.
- Must show potential for a significant return on investment.
Must demonstrate that an adMare seed investment will build the company to a value inflection point attractive to private capital.
Disqualifications:
- Companies not operating within the life sciences sector.
- Companies without a clear competitive advantage or market opportunity.
- Companies with weak or no intellectual property coverage.
- Companies that cannot demonstrate potential for a significant return on investment.
Description
This program is designed to help your business grow by providing essential support and resources. You can receive significant seed capital to kickstart or expand your company. This funding can be used for various purposes, including developing new products, advancing research, and enhancing your business infrastructure.
You will also gain access to top-tier scientific and business expertise. Over one hundred multi-disciplinary experts will work with you, guiding your business from early development stages to market readiness. This collaboration ensures that you have the knowledge and support needed to succeed.
Additionally, you can utilize state-of-the-art facilities. With 225,000 sq. ft. of fully-equipped labs in Montreal and Vancouver, you have the option to use shared facilities or secure dedicated turnkey labs. This infrastructure is designed to meet your needs and help your business thrive.
By joining this program, you also tap into an extensive network of partners. This includes connections in academia, industry, investment communities, and more. These partnerships can provide additional resources and opportunities to propel your business forward.
Program Steps
Gather Required Documentation:
- Business Plan
- Financial Statements (e.g., balance sheets, income statements)
- Details of Intended Use of Funds
- Intellectual Property Documentation (if applicable)
- Team Resumes and Bios
Prepare a Detailed Business Plan:
- Outline your business model
- Highlight the market opportunity
- Describe the competitive advantage of your technology
- Include a comprehensive financial forecast
Complete the Application Form:
- Provide your business details
- Enter contact information
- Specify the type of support you are seeking (e.g., seed capital, infrastructure access)
Submit Supporting Documents:
- Attach the gathered documentation to your application
- Ensure all documents are up-to-date and accurately reflect your business
Review and Finalize Application:
- Double-check all information for accuracy
- Ensure all required fields are completed
- Confirm that all supporting documents are attached
Submit the Application:
- Send the completed application form and supporting documents to the specified contact or online portal
Follow Up:
- Contact the program office to confirm receipt of your application
- Be prepared to provide additional information or clarification if requested
Await Response:
- Monitor your email and phone for any communication from the program office
- Respond promptly to any requests for further information
Participate in Interviews or Presentations:
- If required, prepare to present your business plan and answer questions from the program evaluators
Receive Decision:
- Upon approval, review the terms and conditions of the support offered
- Sign any necessary agreements to formalize the partnership
By following these steps, you can efficiently apply for the program and take advantage of the support available to grow your business.