Joule boosts 3rd annual innovation grant program

$200,000 in funding to physicians, residents and medical students to develop projects that provide direct and positive impacts to patients 

OTTAWA, April 19, 2018 /CNW/ - For the third consecutive year, Joule, a subsidiary of the Canadian Medical Association (CMA), is providing grant funding to drive physician-led innovation.

In this round, Joule has upped the number of grants from 5 to 9 and increased the purse from $150,000 to $200,000. The 2018 Innovation grant program seeks to provide funding to physicians, residents and medical students who are looking to develop or expand a project that provides a direct and positive impact on the lives of patients.

Joule Innovation grant categories:

• Early-stage innovations (2 grants of $25,000): Open to early-stage ideas that have a credible business model and proven feasibility; that have secured less than $500,000 in seed funding; that have less than $100,000 in annual revenue generated; and have less than 3 full-time employees. Seed-funding and revenue-generated does not include research and development funding or grant funding of any kind. These submissions may include product, service, technology or other innovations. Later stage and social innovation initiatives are not eligible.
  
  
• Later-stage innovations (1 grant of $25,000 and 1 of $80,000): This category is reserved for established initiatives—ones well on their way to building a successful business. These submissions have received seed funding greater than $500,000; are generating more than $100,000 in annual revenue; and have more than 3 full-time employees. Seed-funding and revenue-generated does not include research and development funding or grant funding of any kind. Initiatives may include a product, service, technology or other innovations. Early stage and social initiatives are not eligible.
  
  
• Social innovations (1 grant of $25,000): Open to early or later stage initiatives that address a societal problem in a manner that improves the status quo, and for which the primary value created is to health care as a whole. Applicants must be part of a not-for-profit initiative. Initiatives may include a product, service, process, model of care and/or policy.
  
  
• Student and Resident grants (4 grants of $5,000): At Joule, we know that medical students and residents have no shortage of ideas—just time and money. All medical students and residents who do not receive an early-stage, late-stage or social innovation grant will be automatically assessed and the top applicants will be awarded one of four $5,000 grants—two to be awarded to students and two to residents.

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Interested candidates are invited to apply by submitting a 90-second video via the Joule app or at joule.cma.ca. Sample videos are available on the app and website/innovation platform. The 2018 round of innovation grants opens April 20, 2018 and closes at midnight on June 1, 2018.

Joule is the Canadian Medical Association's (CMA's) subsidiary designed to assist physicians in the pursuit of clinical excellence. Joule does this explicitly through the support of physician-led innovation, and by inspiring physician-adoption of knowledge products and innovative technologies and services. Our purpose is to accelerate physician-led innovation and adoption of advances that deliver excellence in health and patient care. Our mission is to help physicians be at their best.

SOURCE Joule

Tamara Mason, [phone]