Anyone who has ever tried knows how tough turning a great idea into a marketable product or service can be. Fortunately for Prince Edward Island’s biosciences sector, there’s Emergence.
Operated by the PEI BioAlliance and supported by partners BioNB, BioNova and NATI – Emergence is a virtual incubator that helps start-ups and growth-stage companies learn, connect, commercialize, and accelerate in a competitive and growing global industry.
With one-on-one mentorship and advisory services, a Team Mentorship Program, and portals to an array of relevant networks and resources “Emergence companies receive long-term expert advice from mentors, selected for their relevant experience, as well as services to fill in specific gaps in the company’s critical path,” says BioAlliance’s CEO Rory Francis.
In fact, he adds, “The Critical Path Team Mentorship Program matches companies with seasoned volunteer mentors to provide practical, day-to-day professional advice and business coaching.”
What’s more, “Emergence companies have access to networks including funding agencies, regulatory bodies, future talent, public organizations, service providers, investors, potential partners, and bioscience cluster companies.”
In reality, Emergence serves high-potential companies wherever they are located in Canada and draws on extensive leadership and knowledge from around the world. It also provides a “soft landing” for innovative international bioscience ventures seeking to start-up or establish themselves in, or expand into, this country. There’s a good reason for this big tent approach.
“It takes longer in bioscience to bring products to market because of the important regulatory requirements for various products,” Francis says. “Therefore, mentors who have been there and done that, and who understand what it takes to go from science to market, are worth their weight in gold.”
For this reason, Emergence companies tend to be in it for the long haul. “Our relationship is not a boot camp,” Francis says. “It’s long term; we have years with them. There’s good evidence that good incubators doing the right things with early stage companies produce a much higher likelihood of those companies moving from a technology to a successful business in the marketplace.”
Emergence’s current roster of more than 60 companies might agree. •