(October 12, 2022 – Toronto, ON) – INOVAIT, the pan-Canadian network supported by the Government of Canada’s Strategic Innovation Fund and led by Sunnybrook Research Institute, is now seeking applicants for its Pilot Fund for R&D projects that integrate image-guided therapy (IGT) with artificial intelligence (AI) to advance medical innovation across Canada.
The application period runs from October 24, 2022 until December 20, 2022 and is open to Canadian corporations, academic institutions and non-profit organizations.
Organizations can apply for a non-dilutive investment of up to $125,000 for short (9–15 months) commercialization-oriented R&D projects.
INOVAIT’s funding programs are specifically designed to encourage the commercial translation of research and development, accelerate commercialization of products, facilitate the growth and expansion of firms, and advance industrial research and technology demonstration activities through collaboration.
“We’re looking forward to seeing the next round of applications from some of Canada’s best medical technology companies and research institutes who are using image-guided therapy and artificial intelligence to create better health outcomes for Canadians,” says Raphael Ronen, INOVAIT Co-Executive Director. “This funding is important in helping to build a legacy IGT industry that will create high-skilled jobs, strengthen the economy, and bring Canada to the forefront of global health technology clusters.”
Currently, the Pilot Fund is supporting 40 image-guided therapy projects by providing $4.9M of capital for R&D activities across the country. Funding was provided to projects that demonstrated excellent scientific, clinical and technical merit, as well as high commercialization potential and economic impact.
To be eligible for funding, each project requires two or more Canadian partners and must involve at least one Canadian small and medium enterprise (SME). For projects led by academic institutions, INOVAIT will be looking for an active involvement from the industry partner.
Following pilot funding, eligible projects will be provided an opportunity to apply for further funding of up to $2 million for a three-year follow-on project in our Focus Fund program.
Organizations that are interested in learning more about this funding opportunity are invited to attend an online information session on November 2, 2022 at 2:30 pm EDT.
To learn more, visit inovait.ca/funding.