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ventureLAB

ventureLAB

ventureLAB

Markham, ON, Canada
Posted on Monday, July 8, 2024

ventureLAB INNOVATION CENTRE

o/a ventureLAB

Advisor, Medtech (Founder Services) — Job ID: 202418

Part-Time (30hr/month)

About ventureLAB

ventureLAB is a not-for-profit leading global founder community for hardware technology and enterprise software companies in Canada. Our organization is led by seasoned entrepreneurs and business leaders with decades of industry experience in building IP-rich start-ups, scale-ups, and global multinationals to help businesses scale. Located at the heart of Ontario’s innovation corridor in York Region, ventureLAB is part of one of the biggest and most diverse tech communities in Canada. Since 2011, ventureLAB has enabled over 2,000 tech ventures to create over 4,000 jobs and raise more than $200 million in investment capital through our initiatives focused on raising capital, talent retention, technology and IP commercialization, and customer acquisition. Together with our community of entrepreneurs, innovators, investors, and partners, we enable technology startups to accelerate the commercialization of transformational products on a global scale. ventureLAB is home to the Hardware Catalyst Initiative — Canada’s only lab and incubator for hardware and semiconductor-focused companies. At ventureLAB, we grow globally competitive tech titans that build-to-scale in Canada — for global markets.

Our Mission

We grow globally competitive tech titans that build-to-scale in Canada.

Our Vision

Born Global. Built to Scale. Inclusive by Design. Inspire a new generation of global founders who choose Canada to scale IP-rich tech titans creating innovative hardware and scale-ready enterprise software solutions that transform communities and establish a blueprint for a more sustainable, inclusive tech ecosystem.

Our Values — Team RIVIR

  • Relentless: We are tenacious, resilient, resourceful, and open-minded. We follow through and remove barriers so others can succeed.
  • Inclusive: We embrace diverse opinions, ideas, and perspectives to make better decisions. We empower each other to do better, we are positive, and we do not judge ourselves or others.
  • Visionary: We inspire a prosperous future predicated on diversity and inclusivity for our clients, partners, and community.
  • Innovative: We ensure everyone is able to contribute to new innovative ideas and strategies. We are curious and ask questions for clarity.
  • Results-Driven: We are proactive and decisive. We do what we say we will do. We are accountable. We have fact-based discussions and challenge each other respectfully.

ventureLAB is made up of passionate, driven individuals, and is growing quickly. It is a fast-paced, flexible environment where individual contributors make a big difference and work collaboratively to achieve shared goals. We are proud to be one of Canada’s Most Admired Corporate Cultures and a Great Place to Work®

Position Profile:

Are you a seasoned medical device entrepreneur or leader in the medical device space that wants to give back to the community? Do you get excited helping others to succeed? Do you enjoy making connections within and expanding your professional network?

If you are, we want to hear from you!

We are looking for an experienced and dynamic MedTech Advisor to join our team. The ideal candidate should have a strong background in commercializing medical technologies and hands-on experience in product development.

This position involves providing coaching and advice to entrepreneurs (we call them founders), advancing ventureLAB’s presence in the healthcare ecosystem, and helping to manage our MedTech lab. MedTech Advisors are often asked to participate in workshops, networking events in the GTA, meetings with other ventureLAB departments, tours of ventureLAB’s facilities, strategic discussions with potential partners or investors, and most importantly – one-on-one meetings with founders in ventureLAB’s MedTech portfolio.

The MedTech Advisor will manage and support each founder, providing them with resources, guidance, workshops, and network access to help them build scalable Medical Device companies

Key Responsibilities:

1. Advisory and Coaching:

  • Provide strategic guidance and mentorship to founders in ventureLAB’s MedTech portfolio
  • Collaborate with founders and fellow MedTech Advisors to develop commercialization strategies for companies in ventureLAB’s MedTech portfolio
  • Collaborate with assigned founders to develop a work plan, including milestones, to support their product development, launch, growth and scale. Meet clients regularly to monitor their progress and guide them, providing updates to internal teams.
  • Offer insights on regulatory requirements, market analysis, and business development
  • Provide insight on R&D, industry standards, and best practices in medical device development
  • Meet with founders in ventureLAB’s MedTech portfolio to assess their potential for growth through ventureLAB programs, provide feedback to the founders, and highlight opportunities/risks

2. Networking and Support:

  • Make introductions for ventureLAB and/or ventureLAB founders with connections from your professional network as appropriate
  • Attend local industry events as requested by ventureLAB
  • Proactively attract and introduce potential founders to ventureLAB
  • Attract and introduce potential partners to ventureLAB
  • Support existing ventureLAB partnerships as requested
  • Support to the operations of the MedTech lab
  • Support the MedTech team with strategic reviews, advice, documentation, and content creation

3. Team Collaboration:

  • Collaborate with the venture growth team, internal teams, ventureLAB MedTech Advisors, and other ventureLAB programs
  • Maintain compliance with safety regulations and quality standards.
  • Manage budgets, timelines, and resources for lab projects.
  • Coordinate with internal and external stakeholders to ensure project success for MedTech lab users.
  • Monitor and report on project progress, identifying and addressing any issues.
  • Build and maintain relationships with key industry stakeholders, including investors, partners, and regulatory bodies.
  • Represent ventureLAB at industry events, conferences, and external meetings.
  • Capture interactions, success stories, and milestones in the ventureLAB internal database/CRM to support funding claims, program metrics, and reports to ventureLAB stakeholders and partner
  • Work collaboratively with internal teams to identify opportunities to connect clients to partner organizations, strategic mentors, and other resources that can help.
  • Provide company updates on a frequent and regular basis to the Portfolio Lead and the other stakeholders and communicate any challenges or roadblocks to the Founder Services Team.

Qualifications:

  • Minimum Bachelor’s degree in Biomedical Engineering, Medical Technology, or a related field. Advanced degree preferred.
  • Minimum of 10 years of experience in the commercialization of medical technologies.
  • Proven track record in product development and project management within the MedTech industry.
  • Strong understanding of regulatory requirements and industry standards.
  • Excellent communication and interpersonal skills.
  • Ability to provide strategic advice and coaching to entrepreneurs.
  • Experience in managing a lab, including design, operations, and budgets

Founder Success Specific KPIs

  • Team Engagement and Commitment: At least 15% in-person attendance in the space/in-person activities (for advisors in the GTA Area)
  • Success Stories: Report at least 2 success stories/per quarter on portfolio companies.
  • Meeting Commitment: Commitment to attend meetings and other related activities and ensure prior communication to the Founder Services Director; ahead of any cancellations.
  • Founder-Focused Engagement: Founder engagement will be at least 50% of total contract period.
  • Individual Advisory NPS Score: Achieve at least 50% Net Promoter Score/per quarter
  • Founder Success NPS Score: Achieve at least 45% Net Promoter Score/per quarter
  • Founder Related Job Creation, Raised Capital and Revenue: Commitment to support ventureLAB's founder-related activities with regards to job Creation, raised capital and revenue generation.
  • Participate in any recruitment and selection process including but not limited to review panels, boot camps, and founder and partner engagement meetings.
  • Drive successful onboarding of new founders within the HCI/MedTech program by actively supporting the programs team. Commit to achieving and reporting all essential metrics to ventureLAB stakeholders, ensuring alignment with program goals and objectives.

How to Apply

Apply by Tuesday 16th July 2024 to hr@venturelab.ca quoting “Advisor, MedTech – Job ID: 202418” in the subject line. Include your resume and a brief note telling us why you’d be a great addition to the ventureLAB team. Early submissions are encouraged as applications will be reviewed on a rolling basis.

At ventureLAB, we value diversity, inclusion, and respect. Diverse experience, perspectives, and backgrounds bring great ideas and create stronger teams — we embrace it, because we know that by including everyone, we all thrive. Accommodations are available on request for candidates with disabilities taking part in the recruitment process.

We thank all applicants for their interest, however, only qualified candidates will be contacted.

Response to COVID-19

Effective December 1, 2021, all newly hired employees will be required to provide proof of full vaccination (first and second dose) against COVID-19 of a vaccine currently approved by Health Canada or provide documentation to support an exemption based on grounds covered by the Ontario Human Rights Act (i.e. medical exemption).