What is MC2? What is it for?
CABHI accelerates the development, validation, dissemination and adoption of innovative products, services and best practices to support brain health and aging. Our existing competitive programs provide funding and support to validation projects in real-world healthcare environments to help generate evidence for the effectiveness of innovative products, services and programs.
Through MC2, our newest CABHI program, presented in partnership with National Bank, CABHI is building on the impact of its core programs by helping selected CABHI projects move beyond the validation phase toward wide-scale adoption and procurement. Innovations demonstrating significant capacity to improve healthcare, generate economic returns (or achieve significant health system savings), creating jobs, and scale, and spread across the health system will be invited to participate in MC2.
The name of the program refers to its objective and the resources it provides:
- Mentorship: The program provides advice and feedback from external experts who have relevant experience, connections and domain knowledge in a field directly relevant to the innovation. The program will leverage CABHI’s partnerships with distributors, communities of healthcare practice and adoption, and other networks in delivering its mentorship.
- Capital: CABHI will provide funding to the innovators to directly support activities leading to the procurement and adoption of the innovation beyond its CABHI-supported pilot project. CABHI will dedicate its own funding as well as work to broker investments, as appropriate, for each candidate.
- Continuation: This program is intended to support the innovation beyond pilot tests and evaluations, into operational practice and procurement.
Who can apply/Can I apply to the program?
MC2 is an invitation-only program. Only project teams already receiving CABHI funding are eligible.
What are the selection criteria? How does the selection process work?
CABHI supports a large number of innovative solutions that show significant promise in improving the quality of life of older adults, the delivery of care and the health system at large. These criteria are already central to how we select projects via our competitive funding programs.
MC2 will support projects that have demonstrated these qualities in their initial project with CABHI and that are clearly ready to be broadly adopted by end users and the health system; and where CABHI is the right partner to provide support required to move robustly into general practice and the marketplace.
In this context, CABHI evaluates program nominees using the following criteria:
- Team and Experience
- Market Opportunity and Social Impact
- Business Model
- Proposed Support/Need
- Fit with CABHI priorities
Nominations are typically led by a team’s portfolio manager. Once a nomination is approved, the evaluation process includes a written application and proposal, and a live pitch to CABHI’s MC2 selection panel. The panel is composed of senior CABHI personnel and subject matter experts in the industry and/or scientific field appropriate to the candidate innovation.
How long does the program last?
The program typically proceeds in two phases. The first phase of the program occurs during, and runs parallel with, the team’s existing CABHI-funded pilot.
Phase 1 focuses on connecting project teams with advisors who have industry, clinical and research expertise to help them develop a strategy to scale, spread and sustain their innovation. At the end of phase 1, and conditional on its results, CABHI will provide financial support, help broker connections to end-users, and offer a suite of services to move innovations towards adoption and procurement. This Phase 2 engagement typically will last 6 months to a year.
How many projects has the program supported so far?
September 18, 2018 marked the start date for program nominations. Currently, no projects have been formally adopted into the program.
How many projects will you support this year?
CABHI expects to accept 3-5 projects into the program between Sept. 18, 2018 and the coming fiscal year 2019/20. The final number of projects may change at CABHI’s discretion.
What kind of mentorship do you provide?
The program provides access to advice and feedback from external experts with relevant experience, connections, and domain knowledge in a field directly relevant to the innovation.
The level of access and frequency of contact with advisors will range, and will be set by the project team and innovator(s), with whom they are connected with. Mentors may include ad hoc and one-time advisory sessions.
CABHI also will engage directly with successful applicants to provide value-added services and support.
These services may include:
- The development of a formal benefits evaluation of the innovation
- An analysis of the financial return on investment on the procurement of the innovation
- Connections and introductions to prospective distributors, customers and investors
- Formal training in business development and healthcare adoption practices
- Design and scientific advisors
Who are your external advisors?
CABHI’s advisors will be recruited on a tailored and as-needed basis, suitable for each innovation. CABHI will draw its experts from partners such as National Bank, its Governing Board, Innovation Advisory Council, the Rotman Research Institute and other clinicians and experts from Baycrest, as well as senior officials and representatives from innovation accelerators, private industry and network partners.