Hamilton, ON, July 25, 2023 – Innovation Factory is thrilled to announce it is accepting applicants for the third cohort of the Hamilton Ecosystem to Accelerate and Leverage Trials of Health Innovation (HEALTHI) program. Supported in part by funding from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP), HEALTHI accelerates commercialization efforts by enabling life science and health tech businesses to partner with leading research hospitals. The third round of funding is expected to support 45 projects over 2 years, equaling approximately $675K in total funding for small to medium-sized enterprises.
Innovation Factory’s HEALTHI program is delivered in collaboration with the Synapse Life Science Consortium (Synapse). Successful applicants will work with the research administration groups from Hamilton Health Sciences or St. Joseph’s Healthcare Hamilton to create pre-trial protocols and documents that are required to undertake a commercialization project or clinical trial. Innovators also receive a high-level assessment of clinical viability and specialized feedback on their approach to product development, evaluation, testing protocols, and study design.
David Carter, Innovation Factory’s CEO, commented, “Hamilton’s life sciences are experiencing significant growth, and we are eager to continue providing support and resources to influential health technology innovators. These businesses are not only actively enhancing healthcare and its management but also spurring economic development by establishing and scaling successful startups.”
Since 2020, HEALTHI has accepted 28 promising projects from different health science companies, signaling a robust interest in fostering cutting-edge research and product development in the health sector. All 28 of these companies have collaborated closely with a lead hospital partner, gaining access to invaluable services that bolster their commercialization efforts.
“FluidAI Medical initially focused on providing early warning signs of anastomotic (gastrointestinal) leak development in numerous general surgery procedures. The product’s sensing technology augments existing wound drains and catheters, monitor effluent and delivers recovery data to healthcare providers to act on. HEALTHI provided us with an opportunity to work with clinicians in order to develop our clinical strategy and build the necessary protocols for clinical investigations. This has allowed us to build our trials with the correct end-points in mind in order to support our commercialization strategy, and has also helped us to develop solutions that meet the needs of our users and develop the necessary outcomes for patient care.” said Amr Abdelgawad, COO of FluidAI.
HEALTHI’s strategic partnership with internationally-renowned administration and research institutes has not only strengthened the infrastructure of high-potential health science companies but also served as a launchpad for innovative health solutions. For more information on HEALTHI please visit https://innovationfactory.ca/funding-healthi/
About Innovation Factory
Innovation Factory is a not-for-profit business accelerator, serving as the catalyst for technology innovation in the greater Hamilton area since 2010. Innovation Factory provides business services, training, mentorship, and strategic connections to drive market adoption, leverage intellectual property, and increase revenues, investment, and jobs. Innovators can also access sector-specific resources including exclusive smart transportation test environments and data; and a formal life science and health innovation ecosystem.
Annie Horton, Marketing Lead