The SAIL Fund
Our innovation ecosystem should be characterized by smart risk-taking, an engaged national community, socioeconomic impact from publicly funded research, and enhanced economic security.
To support this vision, we are building the SAIL Fund, a proposed public-private-philanthropic fund that deploys patient capital through venture philanthropy to bridge the gap between publicly funded research and socioeconomic impact.
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We are tailoring a proven venture philanthropy model to Canada’s unique opportunities and challenges, to address Canada’s underperformance in creating value from its world-class research, to increase Canadian taxpayer’s benefit from tax dollars spent on research, and to increase economic prosperity and security in the longer term.
Get involved by reaching out to us here.
How It Works
The venture philanthropy model is a proven approach to derisk early tech commercialization. Canada has already seen local success of this model led by Innovate Calgary. The SAIL Fund will apply this model nationally, adapted as appropriate, by working with a community of engaged stakeholders from across Canada. ​
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Donors
SAIL Fund uses a mix of funding sources, including private donations, to derisk technologies that align with national priorities. It will help Canada build economic prosperity and security and support new Canadian entrepreneurial talent that will stay in Canada. Any returns are recycled into the SAIL Fund to support the next generation. SAIL Fund aims to be truly patient capital that derisks innovation, leading to a greater quality and quantity of investable Canadian companies.
Founders
SAIL Fund empowers innovators and founders aiming to commercialize publicly funded research by bridging the “valley of death”. Founders benefit from risk-tolerant funding, operational support, IP education and other tech transfer resources, and mentorship. While SAIL Fund will consider supporting any founder seeking to commercialize publicly funded research and welcomes serial entrepreneurs, SAIL Fund focuses on first-time founders.
Universities
The SAIL Fund supports the three missions of Canadian universities—research, teaching, and societal impact—and streamlines the lab-to-market process for all of Canada’s world-class research institutions. By working to turn research into marketable innovation starting with tech transfer, SAIL Fund helps research institutions increase their social and economic impact.
The 6 axioms
After consulting with a cross-Canada community of innovation stakeholders, we designed the SAIL framework based on 6 axioms of tech transfer specific to Canada’s unique ecosystem.
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These axioms are an important element of our due diligence when we make our funding decisions:
Axiom of Benefit
Axiom of Ownership
Axiom of Value Creation
A licence should not unduly limit innovation or the use of publicly funded research outputs to realize economic or social benefit
Ownership of the IP should transfer from the research institution to the licensee when there is sufficient evidence to conclude that the licensee is an economically viable entity
Every dollar available to a startup should be used to build value in the startup
Axiom of Valuation
Valuation of an IP portfolio should be deferred until the market has been established
Axiom of Incentivization
Supporting high-risk commercialization activity should be rewarded with equity proportional to the costs incurred in doing so, providing unlimited potential value in consideration of the risk
Axiom of Simplicity and Clarity
Licence templates should be understandable and usable by someone without legal training