Team:Lethbridge Entrepreneurs/milestones


Synbiologica Ltd


Gant Chart

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Our primary focus at this time is to attain the proof of principle of the science upon which BEAR is designed. Once we have our proof of principle, we will expand on it and develop a working prototype. We will then make efforts to improve upon our initial designs and expand product development, making more BEAR units and variants of the system that will be able to detect different hormones.

We are consistently updating our business plan and making efforts to help Synbiologica Ltd grow. When we begin to create variants of BEAR and increase product development, we will hire a manager and research lab technicians to oversee development. At this time we will be looking more deeply into medical device certification in Canada, as well as making adjustments to meet regulations in the United States and Europe.

We have already received initial funding from Alberta Innovates Technology Futures (GeekStarter), the South Venture Business Plan Competition, and the Chinook Entrepreneur Challenge. In the near future, we will apply for the Scientific Research and Experimental Development tax incentive program as well as the Industry Research Assistance Program. These programs will help us obtain funds that we can use as salaries for employees as well as funds that we can put directly towards the purchase of materials and equipment needed for the development of BEAR. We will also be applying for the Alberta Innovates Technology Futures Voucher program when we have a functional prototype of BEAR. This program funds a third-party opportunity assessment of our product. In other words, a company in the biotechnology industry will be funded to conduct research that will determine if our produce will flourish in the marketplace. The second Voucher program will provide funds to further the commercialization process, protect our intellectual property and continue improvements of BEAR. We will eventually be seeking private investment that will allow us to continue developing variable hormone sensitive components of BEAR and expand our laboratory capacity.

With the help of the University of Lethbridge Industry Liaison Office, we have already been doing prior art and patentability searches for our product. The office has also arranged for us to meet with patent agents and patent lawyers. When our proof of principle has been developed, we will begin initial patent filing. The University of Lethbridge has graciously agreed to let Synbiologica Ltd own all intellectual property generated by members of the company. The University has also agreed to fund our initial patents on a return-of-cost basis.