Three of five funding announcements from Ontario’s Health Technology Exchange (HTX) are directly tied to York Region institutions and companies, and ventureLAB, the Region’s Innovation Centre.
YORK REGION, DECEMBER 21, 2015, ventureLAB-On Friday December 18, 2015, The Health Technology Exchange, HTX announced the first cohort receiving funding through HTX-REACH. Three of the five HTX awards were awarded to ventureLAB-affiliated organizations.
The REACH Innovation Procurement Funding Program is a 3.5 year healthcare provider driven initiative seeking to demonstrate new ways to evaluate, procure and adopt beneficial medical technologies that address high-priority health system problems.
“Having three HTX awards come to ventureLAB-affiliated organizations is a significant accomplishment, and an acknowledgement of the strength of the health innovation cluster in York Region”, said Karen Dubeau, Director of Partner Engagement for ventureLAB.
ventureLAB, as the Regional Innovation Centre serving York Region, has all three York regional hospitals represented on its governing board. With one of its objectives being the growth of the Health Innovation cluster in York Region, particularly as it relates to the convergence of Health and Information Technologies, ventureLAB works closely with institutional partners and innovative companies, to accelerate their paths to market.
Southlake Regional Health Centre received one of the awards for a technology that reduces hospital acquired infections through an improved sterile catheter lock solution. The participating company is a York Region company and ventureLAB client, SterileCare, based in Newmarket. SterileCare has been working with ventureLAB for the last year and is also a tenant in the CreateIT Now at Southlake innovation centre, on the campus of Southlake Regional Health Centre. The hospital, along with Mackenzie Health and Markham Stouffville Hospital, are represented on ventureLAB’s governing Board.
“SterileCare is honored to receive this award in collaboration with Southlake Regional Health Center,” said Karen Kelln, CEO of SterileCare. “Our vision to make a difference in healthcare has truly been embraced and supported by the great community and innovation leaders of York Region. “
Mackenzie Health received a funding award to utilize an innovative procurement pathway to identify and procure a solution to meet institutional privacy breach needs in healthcare. With increasing use of digital records and diagnostics tools, such solutions will become a critical element for hospitals in the future.
BrainFX also received project funding, through its partnership with the Canadian Mental Health Association. BrainFX has been working with ventureLAB for a number of years, developing an innovative tablet-based assessment tool for detecting signs of early stage brain impairment. The evidence-based tool creates both awareness of early detection of brain disorders, and provides opportunities for early treatment of disorders, minimizing longer term disabilities.
Jane Gertner is the Health Innovation Practice Lead at ventureLAB, and has worked closely with both SterileCare and BrainFX. Both are led by innovative and dynamic female CEOs. “It is so gratifying to see these two companies win such important project awards. They have developed incredible technology solutions that will make a significant impact in the provision of quality healthcare services. Having regional community hospitals that embrace innovation and actively engage with entrepreneurial companies is solidifying York Region as one of the provincial leaders of health innovation initiatives”.
Original announcement: http://www.htx.ca/HTX_news/htx-announces-recipients-first-cohort-reach-funding
About ventureLAB
ventureLAB is a publicly-funded, not-for-profit organization dedicated to helping innovators and entrepreneurs build high growth, scalable companies. One of seventeen regional innovation centres across Ontario, ventureLAB provides education, one-on-one mentorship, partnering and connecting services to companies and institutions. ventureLAB is a member of the Ontario Network of Entrepreneurs (ONE). For more information visit: http://ventureLAB.ca
About HTX – The Health Technology Exchange
From Invention through Innovation to International Invoice, HTX provides non‐dilutive project financing to emerging and established Ontario-based companies to develop, produce and commercialize innovative market‐leading advanced health technologies. Through its Health Technology Commercialization Program (HTCP), its new REACH Innovation Procurement program, and its MedTech ecosystem support activities, HTX is the leading resource and catalyst for accelerating the growth of Ontario’s MedTech industry. HTX is managing funding on behalf of the Ontario Ministries of Research and Innovation, and Government and Consumer Services, and is a member of the Canadian Venture Capital Association. For more information visit: http://www.htx.ca/
Full Article Here: www.investinyork.ca
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