Entrepreneurship Program in Canada 2027 with Cash Prizes of Up to CAD 5,000

McMaster University offers a six-month health innovation residency for researchers, clinicians, students and entrepreneurs developing a health or biomedical innovation. The program takes place in Hamilton, Ontario, and the Fall 2026 intake runs from November 2026 to April 2027; the announcement does not state an application deadline.

About the Health Innovation Residency

Residency @ The Clinic supports early-stage ventures as they assess a need, validate a proposed solution, build their venture and prepare for launch. Many participants develop innovations originating in a research lab, academic setting or clinical environment. By the end of the program, teams are expected to be equipped to pursue further development milestones such as entrepreneurial accelerators and pitch competitions.

The residency includes six monthly sessions, held on the first Monday of each month from 2 to 4 p.m. The listed 2026-27 dates are November 2, December 7, January 4, February 1 and March 1, with the April date still to be confirmed. Peer-to-peer and expert-facilitated sessions address market needs assessment and problem identification, solution validation and minimum viable product development, regulatory and intellectual property issues, collaboration, and funding.

Participants also have one or two monthly coaching meetings with a dedicated startup coach. These meetings are used to track progress and address challenges as they arise. Two Spring Pitch Sessions are scheduled for January 18 and March 15, 2027, from 2 to 4 p.m. Residency startups present their ventures to an expert panel and receive practical, actionable feedback.

The culminating task is Demo Day, a final pitch competition for the Residency and broader Clinic community, with a panel of entrepreneurial experts. Teams compete for cash prizes and in-kind consultation hours intended to help advance their ventures. The program components also include mentorship and coaching, access to collision space, and a collaborative cohort. The final pitch competition is listed with a $5,000 amount.

Participants are expected to enter with an existing idea. Before each session, they must complete pre-readings, which may include videos, articles and case studies. They should also be prepared for additional homework between sessions, and pitch decks are revised weekly in preparation for the final presentation. Participants can also access Mitacs Accelerate Entrepreneur funds: $15,000 for four-month internships that help undergraduate and graduate students and postdoctoral fellows get their startup companies to market faster.

Who Should Apply

This residency is for people developing a health or biomedical innovation, including researchers, clinicians, students and entrepreneurs. Applicants should have an existing idea and be ready to work on its development throughout the six-month program. The applicant, or at least one member of the applying team, must be affiliated with McMaster University, able to attend the in-person program requirements and commit at least eight hours per month. Applicants exploring related entrepreneurship and diverse youth opportunities can also browse other opportunities for young people.

Key Highlights

• Six-month intake: November 2026 to April 2027.
• Location: Hamilton, Ontario, Canada; in-person attendance is required for program requirements.
• Monthly sessions: first Monday of the month, 2 to 4 p.m.
• Minimum commitment: eight hours per month.
• Final pitch competition: $5,000 amount listed, with cash prizes and in-kind consultation hours for teams.
• Applications are open; no closing date is specified in the announcement.