September 26, 2023 (Toronto, ON) – Economic trends and market forces are rapidly shifting towards new critical technologies that are transforming the health science sector. The commercialization and adoption of critical technologies such as 5G/advanced networks, ethical artificial intelligence (AI), cybersecurity, robotics, quantum computing and blockchain will ensure that Ontario innovators stay competitive in the global market. To address the long-standing technology development and commercialization gaps that impede growth-stage small and medium enterprises (SMEs) from being able to scale domestically, the Ontario Bioscience Innovation Organization (OBIO®) is inviting health science companies from across the province to apply for the Life Sciences Critical Technologies & Commercialization (LSCTC) Centre of Excellence.
Supported by the Government of Ontario, the LSCTC Centre of Excellence will catalyze a globally competitive collaborative ecosystem by leveraging and building on Ontario’s expertise and capabilities. Critical technologies are driving innovation and intellectual property (IP) creation globally across all health science sectors of life sciences, medtech and healthtech.
“We are excited to support Ontario’s health science companies to develop healthcare solutions leveraging the critical technologies. The LSCTC Centre of Excellence establishes our province as a leader in the commercialization and adoption of innovative technologies globally,” said Dr. Maura Campbell, President & CEO of OBIO®. “The LSCTC Centre of Excellence will be a hub for the advancement of made-in-Ontario intellectual property, enabling the growth of Ontario’s health science sector.”
The LSCTC Centre provides infrastructure, commercialization, technology adoption and talent programming to Ontario SMEs and emerging ventures, including but not limited to therapeutics, diagnostics, medical devices and digital health. The LSCTC Centre leverages the expertise of OBIO® and its partners: HaloHealth, Linamar, L-SPARK, MaRS, NirvSystem, Recursion Canada, Schwartz Reisman Innovation Centre, and Toronto Innovation Acceleration Partners (TIAP).
“We are delighted to partner with OBIO® to support health science companies with AI expertise through the LSCTC Centre of Excellence,” said Naheed Kurji, member of the OBIO® Board of Directors & President of Recursion Canada. “My experience taught me the importance of having a coordinated network of ecosystem players offering an easy-to-navigate set of programmatic activities and general support to enable early-stage companies to be able to scale globally.”
Ventures participating in the LSCTC Centre will have access to technical & commercialization support, which will accelerate business growth and capital investment, enhance productivity and create high value jobs.
To access the LSCTC Centre resources, OBIO® invites interested ventures to review the eligibility criteria and submit an application.
For more information, contact Christina Yeh, Vice President, Programs & Strategic Partnerships, OBIO®.