• Successful completion of Evolution
• Successful completion of MOTR
• 80 or higher in B6049
• Can illustrate customer traction and growth (month over month)
B: ADDITIONAL CONSIDERATIONS:
• If R&D, must present a clear timeline with relevant milestones to achieving MVP (minimum viable product). This must include financial plan as well as product development timeline.
• Must demonstrate knowledge of market (TAM) and beachhead market. (This can be done with support of MaRS MI accessed via Genesis)
• Do we believe the team is coachable?
• Co-Founder analysis; are there at least two co-founders? If not, why? How do they plan to mitigate this risk? Are they open to a co-founder?
• Investment Analysis; are they open to investment? If not, what is their growth plan?
• Meetings commence with Start Up Coordinator for Pitch Prep
• In Addition: IP, Barriers to Entry, Tech Transfer Discussions
• Meeting- Director of Finance for Cash Flow Modelling
• Written Recommendation to Board- From Account Manager
D: SELECTION COMMITTEE MEETING
• Team > twelve (12) full-time local employees.
• Occupancy exceeds thirty-five months
• Fail to meet two consecutive milestones (presented to Selection Board for review)
• New entrant to market vertical making success unlikely
• Failure to identify and obtain paid customers within 12 months of MVP or 6 months post acceptance.
• Successfully raised seed round (AND #1)
• Company is disruptive to other companies
• Annual revenue >$1M
NOTE: Special circumstances will be given to companies with high COGS where the CAC and COGS are being streamlined to enable increased profit margin for scalability.
B: SEMI ANNUAL SELECTION BOARD REVIEW (Prepared with Account Manager)
• Profitability and Funds Raised
• Changes in Market
C: SELECTION BOARD VOTE
• Maintain Status
• Maintain Status with Conditions
• Given 30d Notice of Termination