Impact Investment Program for Healthcare Startups
The Montreal General Hospital Foundation (MGHF) offers an impact investment program for healthcare startups, thanks to the support of National Bank and other generous donors. This funding is accessible to startups that develop their ideas through the Clinical Innovation Platform (CLIP).
CLIP is a unique startup incubator focused on clinical validation and prototype development at the heart of the Montreal General Hospital and the Research Institute of the McGill University Health Centre. The investments offered by this program are convertible loans for startups wanting to scale their healthcare innovations to benefit patients in Quebec and Canada.
Startups that receive a convertible loan from the MGHF should be able to leverage this investment multiple times with various government grants and funding programs, all while benefiting from the unique collection of resources and services available through the CLIP and its hospital-based ecosystem.
“With a constant stream of new ideas and new startup companies originating from our research network and from our interdisciplinary graduate program in surgical innovation at McGill University, we are so pleased to be able to offer this kind of funding to help innovators succeed. Without harnessing innovation we simply won’t meet the challenges of providing the level of healthcare our population needs and deserves.” – Dr. Liane Feldman, Surgeon-in-Chief of the MUHC and Clinical Director of the Clinical Innovation Platform.
“Entrepreneurship is one of the Bank’s core values, which is why we support its ecosystem across the province. We are delighted to collaborate with the Montreal General Hospital Foundation to support this new Impact Investment Program. We are confident that it will help startups to scale their innovations and generate maximum benefits for patients, the MGHF and the Clinical Innovation Platform.” – Judith Ménard, Senior Vice-President, Commercial and Private Banking, National Bank.
The Montreal General Hospital Foundation is the first of its kind in Quebec to offer impact investments for healthcare startups.
“As one of the largest healthcare foundations in Quebec, with a track record of 50+ years supporting innovation and excellence, we are confident that this is a sustainable way to support early-stage startups in scaling their impact to benefit as many patients as possible. We are forever grateful to our donors, including National Bank, who have made this impact investment program possible through their generous support.” – Stephanie Riddell, President and CEO of the Montreal General Hospital Foundation.
The John Dobson Foundation and the Birks Family Foundation have also supported the Montreal General Hospital Foundation’s Impact Investment Program.
“All startups that have thus far received impact investments from the MGHF are great examples of companies that align perfectly with our mission to support innovations that can significantly impact patients’ lives. We expect to make program-related investments in more promising startups in the coming months.” – Alexander King, Vice-President, Development at the MGH Foundation.
