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Requirements

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About the grant

The Embryo Grant supports development of health-related innovation that demonstrates potential to grow into a sustainable enterprise.

How it works

The Embryo Grant takes place from June through November and is comprised of three competitive phases.

Phase one

Phase one figure
Three teams are selected from the applicants. Each team receives up to $15,000 in funding to develop their idea over the next two months. At the end of phase one, each team submits a progress report and prepares to pitch their product.

Phase two

Phase two figure
Two teams are selected from the product pitch and progress reports. These two teams each receive up to an additional $15,000 to develop their product over the next two months. At the end of phase two, each team submits a progress report and prepares to demo their product.

Phase three

Phase three figure
One team is selected from the product demo and progress reports. This team receives up to an additional $15,000 to develop their product into a sustainable business over the next two months. At the end of phase three, the team submits a final progress report.

Competition Rules

  • Applicants may compete as individuals, but are encouraged to create teams with a variety of different skill sets and strengths.
  • To demonstrate engagement with the local healthcare community, applicants are required to have at least one healthcare team member. Healthcare team members include any collaborators from within the Newfoundland and Labrador healthcare sector with relevancy to the applicant's idea. The Hacking Health St. John’s chapter will support in finding a relevant healthcare team member if needed.
  • Individuals may participate in more than one team.
  • Successful applicants will form a not-for-profit or commercial corporation in the province of Newfoundland and Labrador prior to receiving funding. The Hacking Health St. John’s chapter will provide guidance.
  • Applicants must have a business idea with an element of innovation compared to the solutions that currently exist in the marketplace and/or medical sector.
  • Nonprofits may participate in the competition but must demonstrate income generation potential beyond traditional philanthropy. All entries in the Embryo Grant will be judged on their ability to become financially self-sustaining.
  • Eligibility is determined at the discretion of the selection committee.
  • Successful applicants will receive funding on a reimbursement basis for expenses incurred within the stipulated funding period (for example, an applicant awarded funding of $15,000 in phase I must incur expenses within the Phase I period between June 01 and July 31).
  • Successfull applicants must submit expense claims within 45 days of the respective phase end date.
  • Successfull applicants must have expenses pre-approved by the Newfoundland and Labrador Association of Technology Industries.
  • Faculty and staff from Memorial University interested in applying should be familiar with Memorial's Conflict of Interest policy and manage appropriately where applicable.
  • The Technology Transfer Office at Memorial University is available to review and advise regarding background Intellectual Property for students, faculty and staff in order mitigate potential future issues.

The Embryo Grant is a seed fund made available by the Health Innovation Initiative. The Health Innovation Initiative aims to build a thriving medical technology entrepreneurial ecosystem within the province of Newfoundland and Labrador. The Health Innovation Initiative is supported by the Newfoundland and Labrador Association of Technology Industries, Memorial Centre for Entrepreneurship, Memorial University of Newfoundland, Eastern Health, and the Atlantic Canada Opportunities Agency.