Praxis SCI Incubate Program 2024: Application
Fill in your information below to start application for the Praxis Incubate Program 2024. Application deadline is Sunday, February 28 at 11:59 pm Pacific Standard Time (PST).
Please ensure you save your responses in a separate text document as this application does not allow you to save your work online.
Key Highlights:
- Application deadline: February 28, 2024 at 11:59 pm PST
- First and second interviews: March 5 to March 18, 2024
- The program will be virtual from April 8 to July 26, 2024 at 5 hours/ week (we expect one co-founder to attend the weekly - PLEX research mentorship meetings)
- Program starts: April 8, 2024
- Program Ends: July 26, 2024
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Before proceeding, as a prerequisite set by our funding organization, please confirm your company's affiliation status with the organizations listed in the
link
.
My company is not affiliated with any of the organizations listed in the provided link.
I have reviewed the list, and my company is affiliated with one or more organizations listed in the link
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1. Company/ Project details
Company/ Project name (Please provide the legal name of the company only)
Company address
City/ Town
State/ Province
Zip/ Postal Code
Country
Team/ Company website/ URL (if applicable)
Number of full-time employees
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2. Primary applicant details
First name
Last name
Email address
Phone number
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3. Are you legally incorporated?
Yes, in Canada
Yes, Outside Canada
Not legally incorporated yet
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4. Describe your product in one sentence (Elevator Pitch).
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5. Explain what makes your product unique in the market in one sentence.
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6. What's your Technology Readiness Level (TRL)?
You can find additional information here: https://www.ic.gc.ca/eic/site/080.nsf/eng/00002.html
Level 1: Basic principles of concept are observed and reported
Level 2: Technology concept and/or application formulated
Level 3: Analytical and experimental critical function and/or proof of concept
Level 4: Component and/or validation in a laboratory environment
Level 5: Component and/or validation in a simulated environment
Level 6: System/subsystem model or prototype demonstration in a simulated environment
Level 7: Prototype ready for demonstration in an appropriate operational environment
Level 8: Actual technology completed and qualified through tests and demonstrations
Level 9: Actual technology proven through successful deployment in an operational setting
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7. What specific health challenge will your solution address for individuals living with a spinal cord injury?
Bladder and Bowel related complications
Neuro-restoration
Neuropathic pain
Pressure injuries
Psycho-Social
Respiratory complications
Sexual function
Others
If others, please specify the health challenge you are trying to address.
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8. Please answer the following.
0
10+
100+
1,000+
10,000+
100,000+
How many individuals living with a spinal cord injury have you engaged with so far?
0
10+
100+
1,000+
10,000+
100,000+
How many individuals living with a spinal cord injury do you target reaching in 5 years (estimate)?
0
10+
100+
1,000+
10,000+
100,000+
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9. Please describe your engagement activities that involved people with lived experience of SCI?
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10. What care setting do you anticipate your product will be used at scale?
Acute setting (hospital)
Rehab clinic/ facility
At clinic
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11. What other markets (types of patients, diagnoses) will your product benefit?
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12. What is your planned product price at scale? (Canadian Dollars)
CAD$0 to CAD$99
CAD$100 to CAD$249
CAD$250 to CAD$499
CAD$500 to CAD$999
CAD$1,000 to CAD$5,000
CAD$5,000 to CAD$10,000
More than CAD$10,000
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13. Is your product business to business (B2B) or business to consumer(B2C)?
Business to Business (e.g. Hospital, provider is the buyer of your product)
Business to Consumer (e.g. product is sold directly to the end consumer, the patient)
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14. Do you have any current sales? What's your annual revenue YTD? (Canadian Dollars)
Pre-Revenue
CAD$1,000 to CAD$9,999
CAD$10,000 to CAD$49,999
CAD$50,000 to $249,999
CAD$250,000 to $1 Million
More than 1 Million
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15. Please briefly describe your progress in the following areas:
INTELLECTUAL PROPERTY : Patents filed/filing - Please detail
RESEARCH/CLINICAL TRIALS: What level of research have you completed? What were the size and endpoints of your study?
PROTOTYPES: Have you developed a prototype? How many months/years till you develop a prototype for use by patients in the clinical setting?
SALES: Cumulative number of products sold till date
REGULATORY: Do you know your Health Canada and FDA classification? Please detail.
NON-DILUTIVE/ GRANT FUNDING: What funding have you raised for your project to date? Please detail sources.
EXPERIENCE: Have any of your founders led startups before? Please detail Reimbursement , Partnerships
FEEDBACK FROM PEOPLE LIVING WITH SCI: Have you consulted people living with SCI? If so, please detail.
CLINICIAN INSIGHTS: Have you collected data from clinicians, retailers, suppliers? If so, please detail.
DILUTIVE FUNDING (EQUITY): How much dilutive funding have you secured thus far?
REIMBURSEMENT: What is your product's current reimbursement status?
MANUFACTURING: Current status on manufacturing?
PARTNERSHIPS: Any major partnerships?
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16. What are the 3 key objectives of your company in the Summer of 2024 (e.g. what sales, product development, regulatory objectives do you wish to achieve by September 2024?)
Objective 1
Objective 2
Objective 3
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17. How do you think the Praxis Program and team can help you achieve your specific objectives?
For more information, visit: https://praxisinstitute.org/commercialization/praxis-team/
People with lived experience of spinal cord injury (PLEX) Team
SCI Research Team
SCI Commercialization Team
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18. Does your product have potential to reduce carbon emissions/have a climate sustainability impact? If so, please detail.
Yes
No
If yes, please detail.
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19. Please share a short-bio of your team members
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20. How does your team address diversity, inclusivity and equity?
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21. External References: List 3 mentors, sponsors or colleagues (outside your organization) we can contact (Name, email, phone number)
These should be external references only - outside your organization
Reference 1: Name
Reference 1: Email
Reference 1: Phone number
Reference 2: Name
Reference 2: Email
Reference 2: Phone number
Reference 3: Name
Reference 3: Email
Reference 3: Phone number
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22. Please answer the following:
Yes
No
A co-founder/ project lead will lead the participation of your company in this program, and that they are able to participate in the program from May to September, 2024 with virtual program sessions and additional work around 5 hours per week.
Yes
No
Your team is available to participate (virtually) from May to September 2024 at around 5 hours/week (we expect one cofounder to attend the weekly PLEX research mentorship meetings)
Yes
No
Your product demonstrates application to SCI health challenges (functional mobility, neuro-restoration, secondary complications (e.g. spasticity, independence, mobility, bladder and bowel function, sexual function, pressure injuries, neuro-paralysis, neuropathic pain) or overall quality of life)
Yes
No
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23. Attach your pitch deck (File size limit is 16MB)
Please do not include any external cloud storage links like Google/Dropbox as our system will not accept these; PDFs, Word Docs are okay.
Browse
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24. Before uploading your business plan, please confirm you have included the following sections by checking off the boxes below:
Size of overall market, and SCI market, target market share and types of market.
Intended impact of your product on SCI patients (# patients served, type of impact, significance of impact)
Description of the solution (succinct/brief description preferred, visuals welcomed)
Brief description of clinical validation/research completed to date (including 3rd party, accredited research findings where relevant)
Competitor analysis (what is unique about your solution and who are your 3-5 key competitors internationally)
Financial statement and sales forecast (past year by quarter, and 3 years’ projection – Include # of units projected to be sold by year. Use USD or CAD as monetary units)
Marketing/Customer acquisition strategy (describe resources needed/used to acquire market share in specifics)
Product roadmap (e.g. technical or clinical validation milestones completed, to be completed as part of go to market strategy)
Exit strategy (clear path to sustainable business model or exit to strategic buyer or funder, specific examples preferred)
Capital plan and raise (amount raised to date, round, and objectives for future raises, particularly within 2023-24)
Company team (including board of advisors if applicable and bios of core team members)
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25. Attach a business plan (a 1-5 page business plan is sufficient).
Please do not include any external cloud storage links like Google/Dropbox as our system will not accept these; PDFs, Word Docs are okay.
Browse
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26. Provide a link to your 3-5 minute product video - a brief video that explains your product and its uses ( Youtube/ Vimeo (e.g. streamed videos) highly preferred. Downloadable video files are often not compatible with our systems):
Include link to video here:
and password as applicable: