Established in 2012 to independently solicit and prioritize innovative projects worthy of funding.

Open to every staff member of the Peter Munk Cardiac Centre

Comprised of 14-members from the business and health care sectors

Initial support of $3M over 5 years provided by the Peter and Melanie Munk Charitable Foundation

Business members expertise includes: raising and deploying venture capital, managing international markets and real estate, product development, finance and negotiations, and bioengineering

Health care members expertise includes: cardiology, vascular and cardiac surgery, medical imaging, clinical trials, psychology, nursing and hospital administrators

Applicants outline the innovative nature of their project, rationale, likelihood of success, partners, budget and outcome assessment using a standard submission template

Submissions are reviewed quarterly by the Committee with a focus on how innovative, cost- effective and safe the project is, what leverage will be achieved by funding it and the impact of success

All projects are reviewed by two Committee members, one with a medical and one with a business background, and discussed by the full Committee in camera

Funding for successful projects is available immediately with a 25% initial draw to get started

The balance becomes available on submission of appropriate invoices as set out in the budget request, with a mandatory 6 month and 12 month progress report

Funding beyond one year requires a new submission

Investigators who studies are funded must submit their results to the Ontario Health Technology Assessment Committee (OHTAC), which may then recommend that the new device or procedure be funded by the Ministry of Health and Long-term Care (MOHLTC)

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