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From Corporate Ladder to Startup Founder: The MedGeneius Journey

How One Canadian Entrepreneur Turned Frustration into a HealthTech Startup

An interview with Neelam Bance (external link)  , Co-Founder & CEO MedGeneius Inc (external link)  and Alumni of the 2025 BVZ Launch Program.

Introduction: The Leap of Faith

For years, Neelam Bance (external link)  followed a stable and predictable corporate career path in the Canadian pharmaceutical industry. Yet one persistent, unresolved question refused to let her settle: why do medications work for some patients but not for others?

That question ultimately led her to co-found MedGeneius, a Canadian health technology startup focused on personalized medicine. Her journey—from corporate professional to startup founder—is a powerful case study in entrepreneurship in Canada, showcasing what it takes to leave the corporate ladder, identify a real-world problem, and build a scalable innovation within Canada’s growing startup ecosystem.

For aspiring founders navigating the Canadian innovation landscape, Neelam’s story offers a masterclass in leadership, resilience, and the value of accelerators, mentorship, and community support.

Neelam LinkedIn - 1

Neelam Bance, Co-Founder & CEO of MedGeneius

 

1. Identifying the Problem Inside Corporate Pharma

Before launching her startup, Neelam spent years working in corporate pharma, regularly engaging with physicians across Canada. One comment surfaced again and again:

"You know what Neelam, this medication works really well for some of my patients and the other ones not so much."

Despite her experience, Neelam had no satisfying explanation. Like many professionals in large organizations, she was limited by existing systems, standardized clinical trial data, and a lack of personalized insight.

This gap—between patient outcomes and available answers—revealed a major opportunity for healthcare innovation in Canada. It also highlighted a common challenge faced by corporate professionals who later become founders: seeing a problem clearly but lacking the autonomy to solve it from within the system.

2. Discovering Pharmacogenomics and the Power of Personalized Medicine

Neelam’s turning point came when she joined a pharmacogenomics company and discovered PGX — a field that uses genetic testing to predict how patients respond to medications.

Through a simple cheek swab, patients can receive insights into:

  • Which medications will be most effective
  • Which may be ineffective
  • Which could cause adverse reactions

This breakthrough directly answered the question that had followed her for years. Motivated by the potential impact, Neelam co-founded MedGeneius, a Canadian HealthTech startup with a bold mission:

Eliminate trial-and-error prescribing and empower patients with personalized healthcare insights.

Like many founders in the Canadian startup ecosystem, this shift required not just a business idea—but a complete reinvention of leadership, mindset, and identity.

3. From Corporate Leadership to Startup Founder Mentality

Neelam’s corporate experience shaped the leader she intentionally chose not to be. In contrast to hierarchical corporate structures, she built MedGeneius with an inclusive, collaborative startup culture — a key advantage for early-stage companies in Canada’s competitive innovation landscape.

Corporate vs. Startup Leadership

Corporate Model

  • Hierarchical and top-down
  • Authority tied to title
  • Limited room for junior voices

Founder-Led Startup Model

  • Inclusive and collaborative
  • Values diverse perspectives
  • Encourages curiosity and open dialogue

For Canadian entrepreneurs, especially those building lean startups, this leadership shift is often critical to innovation, speed, and team engagement.

4. Barriers to Innovation in the Canadian Healthcare Market

Even with strong science and a clear value proposition, MedGeneius faced challenges common to Canadian HealthTech startups.

Lack of Awareness

Despite the technology’s potential, many physicians were unfamiliar with pharmacogenomics. This underscored a key entrepreneurship lesson: founders must educate the market—not just sell to it.

Cost Perception in Canada’s Healthcare System

In a publicly funded system, patients often expect services to be free. However, Neelam identified a strategic entry point:

  • Private insurance providers in Canada already cover PGX testing

This insight allowed MedGeneius to target an initial market while advocating for broader adoption—an approach relevant to many HealthTech founders navigating Canadian healthcare policy.

5. The Role of Canada’s Startup Ecosystem: Brampton Venture Zone (BVZ)

Neelam’s growth accelerated after joining Brampton Venture Zone (BVZ)—a leading innovation hub supporting entrepreneurs in Ontario and across Canada. Reflecting on her experience, Neelam emphasized that BVZ’s impact went far beyond programming or resources.

“They are amazing. They do everything they can to help you, support you—it’s not just them in silo, but they’re really trying to bring in all the other partners, the ecosystem leaders. And I think that’s been incredible for my journey.”

How BVZ Supported MedGeneius

  • Hands-on mentorship: Executives-in-residence worked directly with the team, helping co-create white papers and refine strategy
  • High-impact connections: BVZ facilitated introductions to hospital leaders, academic institutions, and innovation decision-makers
  • Founder community: A collaborative cohort of entrepreneurs created a supportive, non-competitive environment

This experience highlights the importance of startup incubators and accelerators in Canada—not just as office spaces, but as active partners in growth.

When asked to describe BVZ in one word, Neelam didn’t hesitate: Supportive.

6. Key Lessons for Aspiring Canadian Entrepreneurs

Neelam Bance’s journey offers actionable insights for anyone considering entrepreneurship in Canada.

1. Turn Frustration into Fuel

Your negative experiences can become your startup’s blueprint. Don’t just criticize broken systems — build better ones.

2. Your Founder Community Matters

Entrepreneurship can be isolating, but a strong cohort of peers—especially in Canada’s innovation hubs—becomes a lifeline for growth, collaboration, and resilience.

3. Choose an Ecosystem, Not Just a Workspace

The right startup ecosystem provides mentorship, capital access, partnerships, and real execution support. Programs like BVZ Launch demonstrate how powerful Canada’s entrepreneurial infrastructure can be.

Final Thoughts

From corporate pharma to HealthTech founder, Neelam Bance’s story reflects the evolving entrepreneurship landscape in Canada — one where innovation thrives at the intersection of science, leadership, and community support.

For founders navigating their own leap of faith, her journey is proof that with the right ecosystem, mission-driven ideas can become impactful Canadian startups.

Want to Hear More?

Listen to the full The Business Leadership Podcast (external link)  episode, interviewed by Edwin J. Frondozo (external link) : " Building the Future of Precision Medicine with Neelam Bance", now streaming on Spotify. This episode is a special collaboration with UpNext Global (external link)  and the Brampton Venture Zone by TMU (external link) , produced in celebration of BVZ's fifth anniversary and the founders shaping the Brampton innovation ecosystem.

🎧 Listen on Spotify: https://open.spotify.com/episode/0VMO1auhURv8wLfFNZvAxX?si=e4eee7854ee34a89 (external link)