In a November 2017 article, Entrevestor writes of Emergence, Canada’s bioscience business incubation program: “Emergence is producing some impressive growth metrics”. You can read the full article here!
“Some 15 per cent of the [Emergence incubator client] startups are based in New Brunswick, Nova Scotia and Newfoundland and Labrador,” Entrevestor writes.
“A further 21 per cent are located in the rest of Canada, and 15 per cent are based outside Canada (and are interested in moving at least part of their operations to Canada)”.
In an interview, Emergence director Martin Yuill explained to Entrevestor that Emergence is neither a place where startups can occupy office space, nor a short-term program. The goal of the program is to support companies across a broad geographic area over several years, mainly because biotech companies take time to commercialize.
“Emergence is a multi-year, virtual bioscience incubation program,” Yuill explained to Entrevestor. “Unlike a lot of [other] accelerator programs, we are not cohort-based. . . . We stay with our clients from the idea stage through to success.”
Because there are no cohort-based programs for Emergence clients, Yuill said that what Emergence offers its innovative startup and scale-up bioscience and food sector clients is a customized program built to suit their individual needs.
For example, Emergence works with its mentors first to identify the areas in which each company needs mentorship, and then to try to find expertise in the field to help the client grow.
The incubator also offers Specialist Services Projects, in which it will fund as much as 65% of the cost of bringing in specialists to help a company with a specific project.
Emergence strives to help startups find funding: first by making sure they’re investment-ready and then by introducing them to potential investors. The program also helps to provide services like market research and connections with expert professional service providers, who provide free services to clients of Emergence. Please click for a complete list of Emergence’s services for startups and professional service partners!
“The program only got going three years ago and two-thirds of its members are early-stage companies, but already Yuill said there have been quantifiable results. In the 12 months to March 31, 2017, Emergence companies received $48.5 million in follow-on equity financing and filed 22 patents,” Entrevestor writes.