The Blockchain Technology Review Committee (BTRC) Consulting Program is a staged process to ensure that Program objectives and support align to the needs and objectives of companies. The Program consists of the following steps:
Small- and medium-sized enterprises (SMEs) apply for support via the BTRC Consulting Program online application form, external link. The initial review of the BTRC proposals will be conducted by BTRC operational staff. This review will ensure the application is complete and meets the requirements of the Program. It will consist of an initial assessment of the submitted application and materials and, if necessary, calls with applicants. If an application is approved for further review, the complete application package will be shared with the Blockchain Review Panel (BRP).
At this stage, the proposals will be shared with the BRP to initiate the evaluation process. Each proposal received will be assessed based on Program criteria and on the availability of expertise within the broader BTRC expertise pool.
The main criteria for the initial evaluation of the proposals will be based on:
- Scientific and engineering excellence of the team.
- Merit of the proposal.
- Originality and innovation: The extent to which the proposal suggests and explores novel or potentially transformative concepts, and the extent to which the proposal will generate a unique value proposition.
- Clarity and scope of objectives: The articulation of long-term goals and short-term objectives and a clear description of their relationship; specific, well-focused, and realistic statement(s) of objectives; and the demonstration of a cohesive vision that is greater than a simple list of plans and objectives.
- Merits of the business to monetize the proposal deliverables (i.e., client has the means to execute the idea/recommendation).
- The potential client is a Canadian (incorporated) SME with fewer than 500 employees.
- The potential client proposes a blockchain (distributed ledger) solution to address new needs.
If selected for support, client companies will be informed of their acceptance into the Program and given the option to accept. If they accept, they will be sent a contract outlining the terms of the Program and an invoice for $5,000. This fee is intended to help offset administration costs for the Program and to ensure that client companies are committed to their blockchain technology and actively commercializing it.
Within 12 months of completing their BTRC project, clients may apply the program fee towards further collaboration with a Ryerson faculty member.
Upon completion of the selection process, each project will be assigned a BTRC expert from the BRP or from among affiliate members who will assess the proposed technology. The BTRC reviewer will undertake an independent investigation and work with the company to provide a comprehensive evaluation of the proposed approach. Affiliate members may work with operational staff to help develop the final report.
The final report will consist of the following:
- A clear outline of the challenges the proposed solution may encounter.
- A proposed solution to identified challenges.
- Identified strengths of the proposed solution.
- Recommendations of potential partners and funding programs.
- Recommendation as to whether to proceed as proposed or suggest a new route.
- Action plan and next steps.
Once complete, the report will be delivered to the company and the company will be free to implement any recommendations made in the report without further compensation to the reviewer or the BTRC. Clients will have the opportunity to meet with the lead reviewer and any staff who helped to create the action plan. This meeting will be used to outline recommendations and help clients develop a strategy to execute for the proposed action plan.
All experts will be bound by an obligation of confidentiality and the expectation is that the work undertaken does not form part of their academic work for which they would publish.
Stage 4 and final delivery of the report will take no more than 45 days.
Within 90 days of delivery of the final report, clients will be required to submit a short Program assessment capturing the following:
- Their experience: Was the Program easy to use? Were faculty helpful?
- The outcome of the study: How has this Program helped their business? Did they implement any of the recommendations?
- How would they improve the Program?