3rd PLACE

Americas Most Impactful Leader of the Year Award

Edna Chosack

3rd PLACE Americas Most Impactful Leader of the Year Award

Trailblazing Leadership: Edna Chosack's Impact in Healthcare Entrepreneurship - Canada

"District 3 Innovation Hub at Concordia University: Transforming healthcare entrepreneurship for global impact"


Engage on social media

https://www.linkedin.com/company/district-3-innovation-hub
(Official District 3 Innovation Hub LinkedIn)
https://www.linkedin.com/in/ednachosack/
(Edna Chosack Personal LinkedIn)
https://www.instagram.com/district3innovation
(Official District 3 Innovation Hub Instagram)
https://www.facebook.com/District3innovation
(Official District 3 Innovation Hub Facebook)
YouTube: https://www.youtube.com/@D3InnovationHub
(Official District 3 Innovation Hub Youtube)

Summary

Throughout her illustrious career, Edna Chosack has exemplified innovative leadership, consistently driving success in health entrepreneurship. Upon joining District 3 – Concordia University’s incubator – in 2017, she established and continues to lead the healthcare stream supporting early stage health startups in Canada. Beyond her role as manager, Edna's leadership extends to coaching and mentorship, where she has amassed 2,000+ hours guiding 130+ startups. She continuously enhances programs including Business Model Validation and Minimum Viable Product, ensuring startups receive customized support at every stage. Edna has nurtured the burgeoning Health startup ecosystem through strategic partnerships with leading research centers, hospitals and accelerators in North America and beyond. She introduced groundbreaking programs like MarketConnect, facilitating entry for Canadian startups into the US market. She amplifies the visibility of startups globally through active participation in leading health conferences. Edna's commitment to fostering growth and innovation is further underscored by her introduction of MentorConnect, a MIT VMS program providing crucial support for founders transitioning from startup to SME. Edna is the co-founder of Simbionix (acquired by Surgical Science), where she co-built the company into an international surgical-simulation leader, cementing her reputation as a trailblazer in revolutionizing surgeon training methodologies, integrating e-learning to offer comprehensive training solutions. In her corporate leadership role at CAE Healthcare, she established the surgical simulation business, drawing upon a global talent pool to introduce cutting-edge products. Edna’s career epitomizes transformative leadership, where her innovative approaches to entrepreneurship have shaped the industry landscape and propelled numerous startups towards unprecedented success.

Key People


Edna Chosack
Edna Chosack, M.Sc., MBA, Healthcare Stream lead and Senior Coach
District 3 Innovation Hub,  Concordia University


Acknowledgements

Concordia University

Images

Health, Haply Robotics

DemoDay Panel

Health Startup, Molecular Forecaster

Emergency Session March 13 2020

Health Innovation Conference

Edna and Founder of Gray Oncology

IMPACT STORY

Impacting lifes

In her support of healthcare entrepreneurship, Edna Chosack's contributions have earned recognition. Recently, she was nominated as a finalist for "mentor of the year" category at the Startup Community Awards in Montreal. The National Research Council of Canada (NRC) invited her to serve on the advisory board of their medical device research centre.
Edna's empathetic style resonates deeply with entrepreneurs. Through mutual understanding, she cultivates trust and open communication, empowering startups to overcome challenges with resilience and determination. This supportive environment enables them to grow, benefiting from Edna's guidance, encouragement, and constructive feedback.
Edna is dedicated to promoting innovation in public and preventative health by forging strategic partnerships and developing joint initiatives with ecosystem partners. Collaborations like the one with the Quartier de l’Innovation En Santé in Montreal and initiatives with the research institute of a leading hospital in Montreal (RI-MUHC) demonstrate her commitment to enhancing the Canadian startup ecosystem. She gives workshops to train clinical staff on creating a startup business model and teaches a postgraduate course called Surgical Innovation in collaboration with Concordia and McGill University and another Health Accelerator (ETS). Further, Edna recently helped to secure a $600K grant to expand the healthcare stream and collaborated with federal, provincial, and academic partners to recruit and train startup teams.

LEARNINGS

Lessons learned

I have learned to be humble with my predictions about the potential success of early stage startups. No one can know how a business will evolve. Building a startup is a personal journey, disproving the statement that “business is not personal”. Entrepreneurs are huge risk takers and they value direct feedback. It is my role as a coach to respect their immense commitment by giving them my honest opinion, while being mindful of the impact of my words. You never know how the fleeting advice you offer will stick. One team in particular, who I met at the elevator, remembered my parting sentiment: “You’ll be back. Your journey isn't over.” A few years later, they came back to tell me I was right even though I didn’t even recall making that comment.
Staying proactive and remaining flexible are key leadership traits in the startup environment. Being tuned in to change and responding in an agile manner can help avoid major setbacks. At the onset of COVID, I called an emergency meeting to alert all startup teams to scale back and reduce expenses, offering insight from my past ‘crisis’ experiences. Afterwards, many founders told me that my rapid proactive guidance “saved them”.
Finally, in order to build a system of support that truly benefits a startup, it’s crucial to focus on a specific stream, such as cybersecurity or biotech. By centering all knowledge and resources in one area, you can attract more founders, expertise and funding to build a thriving community.

FUTURE PLANS

What's coming?

I plan to expand the reach of District 3 Health stream by continuing to build partnerships with research centers, hospitals and incubators beyond North America. These global industry collaborations will help to advance Canadian startups, while also offering a soft landing for international founders in Montreal, a gateway to North America. I will continue to work alongside my team to support researchers and students in STEM as they transition into entrepreneurship as an alternate career path. I will use my coaching expertise to design a ‘coach the coach’ training program that teaches successful entrepreneurs how to become effective coaches. By building a comprehensive support system between seasoned leaders and emerging founders, we can set a high standard for the new generation of entrepreneurs in Canada.


KEY STATISTICS

1000+

Startups supported by District 3 since 2014

130

Health startups coached by Edna since 2018

2000+

Coaching hours

500

Researchers and students in STEM supported their leap from lab to market.

100+

volunteer hours at various healthcare innovation organizations, such as the Steinberg Simulation centre at McGill University, and the Medical Device advisory Board at the Canada National Research Council (NRC)

$50M+

Funds raised and M&As among healthcare startups advised

100+

jobs created among healthcare startups

15+

Key partnerships with clinical entities and government, research centers and innovation hubs in North America and beyond

2024 © ACEEU. All rights reserved.