UHN Commercialization is committed to converting our top-tier science into products and treatments with the potential to impact patients worldwide. To this end, UHN’s technology incubation model includes in-house gap funding programs offering significant capital to help early-stage technologies advance to the point of commercialization readiness.
Programs such as the Innovation Acceleration Fund, in partnership with the Princess Margaret Cancer Foundation, help researchers close funding gaps between research funding received from grant and government sources, and the significant private-sector investments needed to de-risk discoveries in order to bring new therapies and technologies to the people who need them.
The Princess Margaret Cancer Centre’s Innovation Acceleration Fund (IAF) has been established to overcome barriers to research translation. Its objective is to accelerate research discoveries made by Princess Margaret Cancer Centre researchers to demonstrate commercial applicability to potential industry partners.
A maximum of $250,000 is available per proposal. Eligible researchers affiliated with the Princess Margaret Cancer Center can learn more here or by contacting us at: IAFinfo@uhn.ca.
Are you a researcher at the Princess Margaret Cancer Centre? Think your project can accelerate cutting edge cancer research from bench to bedside? With the IAF, early stage research with high commercialization potential receives critical funds to advance and help patients worldwide.
Questions? Contact us at : IAFinfo@uhn.ca
The Princess Margaret Cancer Centre is the largest cancer centre in Canada and one of the top five cancer research centres in the world. With the goal of improving the lives of people affected by cancer, the scientists and clinicians at Princess Margaret are continuously advancing our understanding of cancer biology and discovering opportunities for new treatments, and enhancements to cancer care.
Translating research discoveries to achieve maximum patient impact (e.g. therapies/services) means validation for their safe and effective use, which requires significant financial commitment, and is usually achieved by working with a commercial partner to help establish safety and effectiveness, which includes licensing of UHN technologies to allow their continued validation/development. Historically, funding needed to support the development of early stage research/promising technologies, has been lacking. The Princess Margaret Cancer Centre’s IAF has been established precisely to address this funding gap. Its objective is to accelerate research discoveries to a point where their commercial viability can be demonstrated, thus enabling initial stages of development of therapeutics/services that can eventually be used by patients.
IAF funding is made possible by the generous support of the Princess Margaret Cancer Foundation and is administered by Commercialization at UHN, who ensures alignment between IAF and UHN’s Intellectual Property Policy and actively participates in strengthening the business and commercialization aspects of IAF proposals and presentations.
Background
The Princess Margaret Cancer Centre’s IAF has been established to advance innovative research with promising commercial potential along the path towards commercialization. The IAF program solicits and awards milestone based proposals of up to $250,000 in support of UHN innovations in anticipation of a future commercialization event.
• Translational research activities considered eligible, but are not limited to:
• Prototype development
• Generation of in-vivo data
• Reduction to practice
• Proof-of-concept studies
• Clinical demonstration
• Scale up required for clinical phase work
Objective
The primary goal of the IAF is to support the advancement of research from the Princess Margaret Cancer Centre towards commercialization, in order to deliver advanced health care.
Eligibility
To be eligible for the IAF, the lead applicant must be both the principal inventor and hold an appointment with Princess Margaret Cancer Centre. Please referto the below eligibility criteria.
The Role of Commercialization at UHN
Upon submission by an eligible applicant of an Investment Proposal Form, each proposal is assigned a Commercialization at UHN sponsor to champion the technology, including by providing market and commercialization strategy input to the presentation materials, and jointly presenting the project to the IAF Board. Prospective applicants are encouraged to contact Commercialization at UHN prior to submitting a proposal, for guidance on intellectual property and commercialization considerations.
Overview
The IAF Leadership Board will review all proposals on behalf of the Princess Margaret Cancer Centre and The Princess Margaret Cancer Foundation. Their aim is to make prompt decisions in order to expedite the validation of innovative research to commercial parties.
Key criteria for evaluating proposals includes:
Expertise – scientific merit and expertise of key researchers, innovators and collaborators
Scientific Innovation – novelty of the product in comparison to existing products
Technology Utility – potential for commercialization and uptake
Finance Plan – amount sought, use of funds, cap table if it exists
Market Analysis – unmet need, size/opportunity for growth, barriers to adoption
Risks – potential technological, regulatory and financial risks
Competition – comparison to current standard, competitors
Proprietary assets – barriers to others entering the market
Possible acquirers of the technology
The proposal evaluation criteria provides further information that the IAF Leadership Board will take into account when evaluating a proposal. Each member of the IAF Leadership Board completes an evaluation and feedback form for each proposal; both the presentation and background reading material, including the investment proposal form, are taken into account. The collated scores and board meeting discussions will dictate whether a proposal will be funded.
Constructive feedback will be provided to proposals that have not been granted an IAF award, and teams are encouraged to resubmit their proposals.
Proposal Evaluation Criteria
1. Open to applicants that hold appointments within Princess Margaret Cancer Centre.
2. Applicant is both principal inventor and lead for proposal being submitted.
3. Funding up to $250,000 per proposal.
4. Proposal advances the generation of a product (e.g. diagnostics, therapeutics, software, device) to deliver substantive impact to patient care within oncology. Activities can include but are not excluded to proof-of-concept, reduction to practice, commercial demonstration and prototype development work.
5. Key data and results required to demonstrate the commercial potential.
6. Proposal activities independent to existing and upcoming sources of funding. Details for submitted sources of funding to be provided.
7. Intellectual Property has been or is in process of being filed at UHN.
8. Clear downstream commercial opportunity in terms of licensing or company formation presented.
9. Funds increase the value proposition of commercial opportunity (i.e. no pre-existing binding terms on financial return).
10. Funds can be paid to UHN Departments or external companies for the provision of external services. Only additional costs incurred by the Department will be granted by the IAF funds. Thus projects must be costed on a marginal basis by Departments, no indirect costs or overheads are to be added to the direct costs.
How to Apply
Complete the Investment Proposal Form and submit to IAFinfo@uhn.ca
Application Process
The IAF application process, from initial submission of the Investment Proposal Form to presenting to the IAF Leadership Board is illustrated in the flowchart below:
Princess Margaret Cancer Center IAF
IAF Proposal Flowchart
The IAF Leadership Board will hold responsibility for the IAF on behalf of the Princess Margaret Cancer Centre and The Princess Margaret Cancer Foundation. Selected applicants will be invited to present to the IAF Leadership Board which will then determine whether funds will be awarded and with what provisions. Details on members of the IAF Leadership Board can be found here.
Please contact us at IAFinfo@uhn.ca with any questions about the application process.
The IAF Leadership Board meets on a quarterly basis and bears responsibility for the administration of the IAF on behalf of the Princess Margaret Cancer Centre and Princess Margaret Cancer Foundation.
The table below provides information on the submission deadlines for the investment proposal form associated with each IAF call round, as well as the subsequent IAF Leadership Board Meetings at which the selected proposals will be invited to present.
2023 IAF Calls
* Please note these dates are subject to change without notice. Last updated: September 2022
The IAF Leadership Board holds responsibility for the IAF on behalf of the Princess Margaret Cancer Centre and The Princess Margaret Cancer Foundation. Their objective is to support the acceleration of research from the Princess Margaret Centre Research Institute towards commercialization, in order to deliver advanced healthcare.