Lab2Market: Empowering researchers through entrepreneurship
Lab2Market (external link) is a 16-week program allowing researchers to gain the skills and knowledge to commercialize their research. Through funding, mentorship, learning opportunities and community building Lab2Market empowers researchers to think like entrepreneurs, validating their ideas and finding business or commercial value in their projects.
Skills Development
For many academic researchers it can be a struggle to understand and connect with potential customers. Through Lab2Market, participants are able to explore the customer discovery process, targeting the right market for their idea.
Faisal Mahmood joined Lab2Market with an idea for a concussion reduction helmet, but he wasn’t sure where to start. “Lab2Market enabled me to take [my idea] to market, identify the customers and get feedback from them.” Abdel Abdou, who is developing a physiological detection device for fatigued and distracted drivers, adds “we learned a lot about how to communicate ... one of the most important things is how to convey your technology in a non-technical way so that people can understand.”
Lab2Market also gave participants an opportunity to see their research in a new light, “[it] helped me view certain parts of my research differently,” adds Reeda Mahmood, whose project involves creating solar films for windows. “I got the opportunity to figure out what matters and what doesn’t and that’s really changed [my perspective].”
I grew my professional network, more than I have throughout my entire life.
It helped me view certain parts of my research differently.
Community Building
In addition to giving participants the skills and knowledge to succeed, Lab2Market also builds community, connecting participants with fellow researchers, key industry contacts and mentors. “I grew my professional network, more than I have throughout my entire life,” says Anum Khan, who is working on a detection system to monitor flushables using imaging sensors and communication networks. “We built a really strong cohort,” she adds, “I definitely want to stay in contact with all the other entrepreneurs that I met on the journey.”
The supportive community helped Adbel learn and grow as he built his knowledge and project, “it was a safe space for entrepreneurs, especially for people who didn’t know anything about entrepreneurship!” For Reeda, the community in Lab2Market was a key part of her success, “knowing you have that kind of support system just makes everything easier.”
Entrepreneurial Exploration
“Before Lab2Market I had no idea that I could be an entrepreneur,” says Faisal, however after participating in the program, he now has the skills and confidence to continue developing his prototype and building his company.
Despite his interest in entrepreneurship Abdel lacked the tools or mindset to move forward until joining Lab2Market. The program has allowed him to see entrepreneurship as a viable career path, “they tested my entrepreneurship acumen.”
Before joining Lab2Market Anum never considered herself an entrepreneur but after completing the program she has realized that entrepreneurs can come from any background or field, “it’s definitely changed the way I view that term. Now I have the foundation that I need and I can propel myself forward to dive into whatever avenue I choose.”
Before Lab2Market I had no idea that I could be an entrepreneur.
Apply to Lab2Market Oceans!
Interested in participating in Lab2Market? Applications (external link, opens in new window) for the Lab2Market-Oceans Fall cohort are currently open!
This virtual 7-week program is a great opportunity for graduate students and postdocs to receive $15,000 to gain entrepreneurial skills and test the commercial potential of their ocean-related research. Application deadline is March 31st.
This program is supported by the Ocean Startup Project through Canada’s Ocean Supercluster (external link, opens in new window) , Mitacs (external link, opens in new window) , Atlantic Canada Opportunities Agency (external link, opens in new window) and Springboard Atlantic (external link, opens in new window) .
