Funding helps acceleration of ‘made-in-Canada‘ life science options amidst world pandemic
HAMILTON, ON, March 30, 2021 /CNW/ – As we speak, the Honourable Mélanie Joly, Minister of Financial Growth and Official Languages, introduced a $6 million funding by means of the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) to speed up the commercialization of life science improvements in southern Ontario. Innovation Factory will increase programming for all times science innovators and launch the Southern Ontario Pharmaceutical and Well being Innovation Ecosystem (SOPHIE).
Whereas the province works in the direction of restoration from the worldwide pandemic, the funding bolsters the full-service innovation hub in Hamilton and finally, will elevate Ontario’s place as a spot to develop, check and commercialize modern healthcare options. Innovation Manufacturing facility, in collaboration with the Synapse Consortium, will present companies with advisory providers, testing capabilities and monetary assist wanted within the healthcare area to develop and commercialize their specialised well being improvements and help to scale up their corporations. At a time when innovators are confronted with vital challenges and obstacles which have emerged because the begin of the pandemic, SOPHIE is well-positioned to rapidly assist nimble corporations adapt to new alternatives.
“By means of this partnership with FedDev Ontario, Innovation Manufacturing facility will speed up the commercialization efforts of modern life science corporations rising from the southern Ontario well being ecosystem,” says David Carter, Govt Director of the Innovation Manufacturing facility. “Innovation Manufacturing facility will construct on our historical past of supporting start-up and scaling corporations, guaranteeing made-in-Canada options can emerge with the assist of Hamilton’s dynamic well being ecosystem,” Carter provides.
Since 2011, Innovation Manufacturing facility has been a hub for innovation within the area, supporting over 2,300 companies, of which roughly 25% have come from the life sciences sector. Thus far, Innovation Manufacturing facility has recognized that over $400 million has been raised by these corporations creating disruptive improvements. The Synapse Life Science Consortium performs an integral function within the well being ecosystem, facilitating collaborative partnerships between business, hospitals, academia, and authorities that extends past Hamilton to the remainder of Ontario, Canada and the world.
“Canada’s rising life science sector represents a implausible alternative to create jobs and drive higher well being outcomes for residents throughout the nation. The Hamilton area will play a important function in supporting this progress. By means of SOPHIE, the Synapse Consortium’s world-class educational and medical specialists, services and infrastructure will work hand-in-hand with SMEs and entrepreneurs to construct the subsequent technology of modern well being know-how,” says Alex Muggah, Director of the Synapse Life Science Consortium.
“SOPHIE will join companies, well being care establishments and academia to resolve real-world points impacting healthcare right here at dwelling and all over the world,” says the Honourable Mélanie Joly, Minister of Financial Growth and Official Languages and Minister liable for FedDev Ontario. “By fostering this collaboration and guaranteeing our companies within the life sciences sector have entry to the assist they want, our authorities is supporting the well being of Canadians at a pivotal time, whereas creating 50 good jobs so our economic system can come again sturdy.”
Hamilton has a powerful historical past in innovation, healthcare and collaboration, and because of the assist from FedDev Ontario, SOPHIE has the potential to extend life science investments and contribute to different financial impacts together with the creation of fifty jobs, sustaining an extra 100 jobs and inspiring 100 corporations to both set up themselves or develop within the Hamilton space. SOPHIE seeks to create a collaborative and dynamic ecosystem, designed to speed up and maintain financial progress and world competitiveness for Ontario’s rising and scaling life science corporations.
About Innovation Manufacturing facility
Innovation Manufacturing facility is a non-profit enterprise accelerator, serving because the catalyst for tech innovation within the larger Hamilton space since 2011. Innovation Manufacturing facility offers enterprise providers, coaching and mentorship to assist entrepreneurs with superior manufacturing, clear tech, info tech, life science and social improvements to deliver their concepts to market, improve revenues, entice funding and create jobs.
About Synapse Life Science Consortium
The formal regional cluster group for the life sciences ecosystem within the larger Hamilton area, the Synapse Consortium acts as a strategic dealer for the neighborhood, with the objective of supporting the commercialization of innovation well being know-how. Synapse companions embrace the anchor life science organizations in Hamilton, representing 25,000 workers and +$460 million in annual modern analysis. Innovation Manufacturing facility was a founding member of Synapse in 2016, together with Hamilton Well being Sciences, St. Joseph’s Healthcare Hamilton, McMaster College, Mohawk Faculty, Bay Space Well being Belief, McMaster Innovation Park, Metropolis of Hamilton.
About FedDev Ontario
For almost 12 years, FedDev Ontario has actively labored to advance and diversify the southern Ontario economic system by means of funding alternatives and enterprise providers that assist innovation and progress in Canada’s most populous area. The Company has delivered impressive results, which could be seen in southern Ontario companies which can be creating modern applied sciences, bettering their productiveness, rising their revenues, and within the financial development of communities throughout the area.
SOURCE Innovation Manufacturing facility
For additional info: Annie Horton, Advertising and marketing & Communications, Innovation Manufacturing facility, [email protected]