Expanding health technology networks across southern Ontario
FedDev Ontario invests $10 million to support 180 companies, create and maintain 480 jobs, and 270 job opportunities for women
July 11, 2022 - Toronto, Ontario
Federal Economic Development Agency for Southern Ontario
Health sciences are essential to ensuring the health and well-being of Canadians, and the need for made-in-Canada solutions continues as we finish the fight against COVID-19.
Today, on behalf of the Honourable Helena Jaczek, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), Jenna Sudds, Member of Parliament for Kanata—Carleton announced a non-repayable contribution of $10 million for Ontario Bioscience Innovation Organization (OBIO) to expand the Early Adopter Health Network (EAHN) program, through the Jobs and Growth Fund.
This investment will expand the EAHN program to leverage the existing network of over 20 hospitals across southern Ontario so that more Canadian companies can access the EAHN and develop cutting edge healthcare technology in frontline settings across the region and produce new healthcare technology that will lead to improved health outcomes for Canadians.
Through this support, EAHN will help 180 Canadian small and medium businesses, including financial support for more than 30 Canadian businesses with high-potential health technologies, and will create and maintain 480 jobs in the region.
Application intake is open and details can be found on OBIO’s website.
As part of this investment, OBIO will also be able to launch the Women in Health Initiative to increase the representation of women in the health and life sciences sector. This Initiative will provide more opportunities for women in the health sciences sector to recieve on-the-job learning as well as financial support for these training costs, with a strong focus on preparing women for leadership positions. More than 270 women are expected to be supported through the program.
Quotes
“Today’s investment, through OBIO, is supporting our local healthcare sector. With the Government of Canada's investment of $10 million, OBIO is scaling up healthcare innovation, increasing the meaningful participation of women in this important sector, and creating inclusive economic growth across our region.”
- Jenna Sudds, Member of Parliament for Kanata--Carleton
Quick Facts
Founded in 2009, and led by CEO, Dr. Maura Campbell, OBIO supports the development and commercialization of health technology through early-stage investment, advisory services, strategic alliances, stakeholder engagement and industry promotion.
The EAHN network consists of partner hospitals spanning across southern Ontario, including research hospitals in Toronto and Ottawa, and regional hospitals in Hamilton, Kingston and Newmarket.
Today’s announcement, builds on an additional $10 million in FedDev Ontario support, provided to OBIO since 2015, to assist high-potential health and life sciences companies to grow, scale up and attract global investment. · FedDev Ontario is delivering $224 million of the Jobs and Growth Fund (JGF) to help businesses in southern Ontario and the organizations who support them, future-proof, build resiliency and prepare for growth by transitioning to a green, inclusive and competitive economy.
Since November 2015, FedDev Ontario has invested over $175 million in over 40 projects related to Health and Bioscience.
