Joule™-- the Canadian Medical Association's newest company—has opened its second round of grants seeking promising physician-led ventures designed to innovate and revolutionize health care in Canada. Five grants ranging between $25,000 and $50,000 will be allocated in three categories to eligible Canadian Medical Association (CMA) members. Deadline for applications is May 1, 2017 with submissions being made via the Joule app.
"At Joule, we believe that physicians are in a unique position to drive change in health care," says Lindee David, Joule CEO. "The recipients of our first round of grants demonstrate that with the right support and opportunities, physicians can take a leading role in driving change, through innovation, that can result in better health outcomes for Canadians as well as patients around the world."
In 2016, Joule awarded a $50,000 grant to Dr. Doug Kavanagh who used the funds to expand the development of the Ocean Tablet, which helps reduce the language barrier between physicians and patients, saving time for physicians and improving screening for mental health and pain, in particular, for patients. That same year, one of four $25,000 grants were awarded to each Dr. JulieLynn Wong, Dr. Dale Podolsky, Dr. Kamran Khan and Dr. Jacob Jaremko for their grant submissions.
Later-stage innovations (two grants available: one $50,000 and one $25,000 grant)
This category is reserved for established initiatives that have begun to assemble a team, have some seed funding and are in market with a proven sustainable revenue stream. Initiatives may include a product, service, technology, or other innovation. Social initiatives are not eligible.
Early-stage innovations (two $25,000 grants available)
This category is open to early-stage initiatives with some seed funding, no or minimal revenue, a credible business model and proven feasibility. Initiatives may include a product, service, technology and other innovation. Social initiatives are not eligible.
Social innovations (one $25,000 grant available)
This category is exclusively for an initiative that addresses a societal problem in a more effective, efficient or sustainable manner than the status quo, and for which the value created accrues primarily to healthcare as a whole rather than private individuals or organizations. Initiatives may include a product, service, process, model of care and/or policy. Seed funding must be in place. Social innovations eligible for a Joule Innovation grant may be in the early or later-stage of their lifecycle.
In less than a year, Joule has taken great strides into Canada's health innovation space ―driving physician-led innovation with flexible grant funding, access to peer and expert mentorship and multimodal engagement opportunities. Learn more about Joule Innovation and its grant program. To apply for a grant download the Joule app. Applications will be accepted until May 1, 2017. Grants are open to all CMA members.