The C.H.I.E.F.S. Story – Existential Threats

How do you deal with existential threats?

The current American one is extremely troubling for Canadian health entrepreneurs, especially when the US is the primary target for their innovations.

Prior to President-elect Donald Trump’s bombshell announcement of a likely 25% tariff on all Canadian (and Mexican) imports, it could be argued that except for the exchange difference Canadian and American pre-Series A innovators typically have raised comparable amounts of capital. This was clearly identified in the C.H.I.E.F.S. section of the Mammoth Health Innovation Inc. website which included the chart below.

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At that time the primary difference was Americans having to dedicate nearly 33% of their non-dilutive (SBIR) capital towards commercialization, versus effectively zero for Canadians, that created the apparent disparity.

Canadians are now faced with a looming tariff of monstrous proportions along with a sub-seventy cent dollar to deal with.

The C.H.I.E.F.S. Tool? was relevant before all of this, since it provided an inexpensive baseline for health innovators to “level the playing field”. They could immediately see which of the ten Factors needed attention and to what level. The optional C.H.I.E.F.S. Outcomes? would then provide those who chose to use it deep insights on how to remedy the prior findings.

Now the C.H.I.E.F.S. Tool? is even MORE relevant!

There is no question entrepreneurs are going to have to raise even more money to be able to penetrate and sustain their targets in the US. However, how do they justify this without having a clear pathway towards the future milestones?

Referring to the 50 Criteria that underpin C.H.I.E.F.S., thirty-two (32) of them relate directly to commercialization. Typically these are where Canadian health entrepreneurs are primarily lacking. Knowing what and where the shortcomings are provides clear guidance both operationally and financially for the innovators. This is the strength of the C.H.I.E.F.S. Tool?.

Going a step further, C.H.I.E.F.S. Outcomes? provides the how to be able to identify actual milestones for support (including due diligence) when seeking the additional yet necessary investment to succeed.

With over 11 years of working in the DC area, engaging with officials at the highest level of the US government, experiencing three different administration changes while there, provides personal insight to the upcoming challenges facing Canadian health innovators. These experiences also deliver practical guidance and pitfall avoidance going forward.

In this vein, OBIO will be hosting a webinar on January 21, 2025 at Noon (Eastern) where I will be “exploring Mammoth Health Innovation's tool (C.H.I.E.F.S.) designed to help Canadian health tech innovators navigate a challenging landscape in the US”. ?

Finally, since this will be my last article for the year I want to wish everybody a happy, safe Holiday Seasonand I look forward to a mutually productive 2025.

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