Bioscience incubator helps start-ups go from idea to marketplace
submitted by the PEI BioAlliance
Emergence is Atlantic Canada’s bioscience business incubator headquartered in Charlottetown that helps bioscience start-ups and early-stage companies from across Atlantic Canada go from idea to marketplace. It serves about 56 active companies – 28 of which are from PEI.
“We provide access to C-suite mentors and run the ‘Emergence Critical Path Program’ and provide specialist project support,” says Dr. Jason Cleaversmith, Executive Director.
“Emergence mentors support companies on their path to commercialization by filling key knowledge gaps and help companies make credible investment propositions.”
The Critical Path Program is a bespoke program that focuses on each company’s technology and path to market, and also provides one-on-one and a MIT-inspired team mentoring approach for bioscience companies.
The program helps identify investors and guides businesses through regulatory processes and manufacturing scale up, and provides support to develop product launch strategies, market intelligence and export plans, and more.
Specialists are on hand for companies who may need support in areas such as research and development planning, human resources, legal, financial planning, and intellectual property management.
Becoming a member
To become an Emergence client, a company must show in their application that their product is highly innovative, has high growth potential, and through an interview process demonstrates that their leadership is coachable and open to mentorship.
Team of experts
Emergence has a team of experts with a wide range of skills and experience that come together to help emerging companies. They include:
- Mentor in Residence
- Lead Mentor, Market Access and Exporting
- Lead Mentor, Access to Capital
- Technical Advisors
- Team Mentors
- Project Manager
“We also have an MIT designed team mentorship approach which provides access to C-suite executives such as Chief Executive Officers and Chief Financial Officers. Most of these mentors are recent retirees from industry and we are very fortunate to have them give advice and strategic direction to our companies.”
Emergence at a glance
- 56 active clients (48 Atlantic Canada, six US & International, two National)
- Areas of specialization include: animal and human health diagnostics, med tech, natural health products, bio-active extraction and value-added food processing, and aquaculture.
- 68 percent of Emergence companies have women in C-suite positions.
- Combined, Emergence companies represent 605 jobs, with $83M in sales revenue, and raising $48M investment per year.
Emergence was established as a national program by the Government of Canada in 2014. In 2018, it became a regional program under the Atlantic Canada Opportunities Agency (ACOA). In 2022, ACOA and Innovation PEI committed to operating the third phase of Emergence for the next three years.