NRC — Medical device facilities
Highlights
This program is designed specifically for businesses like yours, working in the medical device sector. It offers a unique opportunity to access cutting-edge research facilities and expert support to bring your innovations to market. By participating, you can leverage our extensive network of industry, clinical, academic, and government collaborators.
Why Apply?
- Access to State-of-the-Art Facilities: Utilize our polymer lab-on-a-chip, microfluidics laboratories, and digital health software platforms.
- Expertise and Support: Benefit from our deep biomedical acumen and technical support in micro-nanofabrication, biomedical software, and more.
- Collaborative Opportunities: Engage with national collaboration centers and networks, such as the Centre for Research and Applications in Fluidic Technologies (CRAFT) and the Cognitive Care Network.
What's in it for You?
- Accelerated Development: Fast-track your product development from idea to market with our comprehensive R&D services.
- Cost-Effective Solutions: Gain access to low-cost, scalable innovations in point-of-care diagnostics and digital health.
- Enhanced Market Readiness: Improve your product's manufacturability and testing with our prototype design and development services.
Qualifying for this program is straightforward, and being approved can significantly boost your business's growth and innovation potential.
Financing Details
Type of Financing: Grant
Repayment Terms and Interest Rates:
- This is a grant, so there are no repayment terms or interest rates. The funds do not need to be repaid.
Eligible Expenses:
- Research and development costs
- Prototype design and development
- Testing and manufacturability
- Technical support and advice
Ineligible Expenses:
- General operational costs
- Marketing and sales activities
- Debt repayment
- Purchase of real estate
Fees:
- There are no fees associated with this grant program.
Qualifications
- Must be a business involved in the development, translation, and implementation of medical device innovations.
- Must have a collaborative network with industry, clinicians, academics, and government collaborators.
- Must engage in research activities such as:
- Point-of-care diagnostics
- Digital health
- Space and remote communities bio-analytics
- Living micro-systems / organ-on-a-chip devices
- Personalized digital therapeutics for cognitive, psychiatric, and movement disorders
- Remote and contactless health monitoring
- Must utilize facilities such as:
- Polymer lab-on-a-chip and microfluidics laboratories
- Digital health software platforms
- Materials processing and manufacturing laboratory
- Must have expertise in areas like:
- Micro-nanofabrication for bioanalytical devices
- Microfluidics and lab-on-chip systems
- Devices for in-vitro diagnostics, organ-on-chip, and cell therapy
- Biomedical software, data science, and extended reality (xR) development
- Cognitive and psycho-motor human-machine interactions
- Digitally augmented physiological and neurological sensing
Must be involved in collaboration centres and partnerships such as:
- Centre for Research and Applications in Fluidic Technologies (CRAFT)
- Collaborative Unit for Translational Research (CUTR)
- Cognitive care network
Disqualifications:
- Businesses not involved in medical device innovations.
- Businesses without a collaborative network with industry, clinicians, academics, and government collaborators.
- Businesses not engaged in the specified research activities.
- Businesses not utilizing the specified facilities.
- Businesses lacking the specified expertise.
- Businesses not involved in the specified collaboration centres and partnerships.
Description
This program offers your business up to $1,000,000 in funding. You can use this money to buy equipment, improve your workspace, or cover other essential costs.
Here's how you can use the funds:
Up to $500,000 for equipment or workspace improvements, such as:
- Commercial kitchen appliances
- Manufacturing machinery
- Computers and IT infrastructure
- Renovating a retail space
Up to $150,000 for operational costs like software or other necessary expenses to keep your business running smoothly.
Key benefits include:
- 85% of the loan is guaranteed by the federal government, providing a significant safety net.
- Flexible repayment options: Choose between variable or fixed interest rates, or combine them.
- Up to 15 years to repay the loan, regardless of what you spend it on.
This program is designed to support your business growth and stability, making it a valuable opportunity for you.
Program Steps
Gather Required Documentation: Prepare the necessary documents for your application. These include:
- Business registration documents
- Financial statements (e.g., balance sheets, income statements)
- Business plan
- Proof of business address
- Identification documents for business owners
- Any relevant patents or intellectual property documentation
Complete the Application Form: Fill out the application form provided by the program. Ensure all sections are completed accurately and thoroughly.
Submit the Application: Submit your completed application form along with the required documentation through the designated submission portal or via mail as instructed by the program guidelines.
Await Confirmation: After submission, you will receive a confirmation of receipt. Keep this confirmation for your records.
Review and Respond to Follow-Up Requests: Be prepared to provide additional information or clarification if requested by the program administrators. Respond promptly to any follow-up inquiries to avoid delays.
Attend an Interview or Meeting (if required): Some programs may require an interview or meeting to discuss your application in more detail. Be ready to present your business case and answer any questions.
Receive Decision Notification: You will be notified of the decision regarding your application. If approved, you will receive further instructions on the next steps.
Sign Agreement and Begin Participation: If your application is approved, you will need to sign an agreement outlining the terms and conditions of the program. Once signed, you can begin participating in the program and accessing its benefits.