2024 Synapse Pitch Competition – Canada

Deadline: 12 November 2023

Applications are open for the 2024 Synapse Pitch Competition.

Innovation Factory’s Synapse Competition is Ontario’s premier life science pitch competition. Designed to help move your innovative life science products and services out of the lab and into the market, the competition pairs innovators with business and entrepreneurship students, and provides the training, mentorship, and resources to be successful.

Delivered by Innovation Factory, in collaboration with the Synapse Consortium, this competition assists innovators, scientists, and researchers to bring their ideas to market, increase revenues, leverage intellectual property, attract investment and create jobs.

Synapse combines the ideas and research of life science innovators with the intellect and strategy of students. Which one are you?

Innovator
- Why Participate?
  - Receive a $5,000 grant to support the growth of your business
  - Develop your commercialization plan and pitch
  - Participate in business training workshops to help you bring your idea to market
  - Work with Masters/Ph.D. students with expertise in biomedical, business and engineering
  - Establish valuable connections within the life science community
  - PLUS! Compete for a chance to win BIG cash and in-kind prizes.
- Who should apply?
  - Early-stage companies, innovators, scientists or researchers with a life science product, service or idea
  - A driven, coachable, and collaborative leadership founder/team
  - Located in Southern Ontario
  - Companies who are incorporated in Canada or will have completed incorporation by December 31, 2023
  - Has not placed in the top 10 at a previous LiONS LAIR, or placed in the top 3 at a previous Synapse Competition
Student
- Why Participate?
  - Receive a $500 honorarium for participating
  - Gain business experience working with an innovative life science start-up company
  - Work hands-on to create a commercialization plan, poster and prepare a pitch
  - Attend business training workshops and grow your resume
  - Establish valuable connections within the life science community
- Who should apply?
  - Upper-year college and university students
  - Master’s-level or Ph.D. students
  - Recent graduates
  - Experience in business, engineering, science, or commercialization
  - Interest in partnering with an innovator to help commercialize their idea

Phases

The competition is separated into four phases:

Phase One: Team Formation
- Interested participants will complete a short application and finalists will be notified in December of their acceptance into the competition.
Phase Two: Commercialization Plan
- Teams will receive training and mentorship in order to submit a 10-15 page Commercialization Plan, outlining detailed steps needed to commercialize their innovation, and a timeline to market in February, 2024.
Phase Three: Investor Pitch
- Teams will attend training to develop and deliver a 5-minute investor pitch, including the components of a pitch, delivery methods, and addressing questions in March 2024.
Final Phase: Final Pitch & Showcase
- The top-ranked teams will deliver a business pitch, competing for cash and in-kind services from the generous partners. All finalists will present a poster and have the opportunity to network with top industry leaders in the life science sector on March 20, 2024.