Entrance Criteria

Entrance Criteria:

A: PROGRAMMING:

•      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?

C: PROCESS:

•      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

 

Exit Criteria

A         CONDITIONS:

•           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)

•           Milestones

•           Profitability and Funds Raised

•           Team

•           Traction

•           Changes in Market

 

C:        SELECTION BOARD VOTE

•           Maintain Status

•           Maintain Status with Conditions

•           Given 30d Notice of Termination