Government of Canada invests $20M to scale up health tech innovation

Canadian health tech startups looking to scale up their companies may be getting a big helping hand, as the Government of Canada recently announced it’s investing $20 million in this space.

This will begin with an initial investment of $7 million to aid in the establishment of the CAN Health Network, which is to serve as an integrated market allowing startups and SMEs who are working on innovation in the fields of health and biosciences to work directly with health care organizations.

Announced by the minister of small business and export promotion, Mary Ng, she said that this will allow these companies to develop technology that meets the needs of those health care organizations, while simultaneously allowing them to commercialize that innovation and scale-up their companies.

“Our government is making these investments to scale up companies and create good jobs for Canadians. The integrated market is an innovative approach supporting technology development and business growth,” said Ng. “Through easy access to a large, consolidated domestic marketplace, companies will scale up and be anchored in Canada, commercializing technologies that can be exported around the world.”

According to the press release, the international market for medical technologies is estimated at $500 billion annually, and the Government of Canada is trying to ensure Canada’s place among the top nations in that market.

This plan will begin with the initial $7 million in funding which will allow the Saskatchewan Health Authority to establish the CAN Health Network in Western Canada and Trillium Health Partners to establish it in Southern Ontario. Each will receive $3.5 million to establish their network with the companies listed below.

Saskatchewan Health Authority:

  • Alberta Health Services
  • Children’s Hospital Research Institute of Manitoba
  • O’Brien Institute for Public Health, University of Calgary
  • Vancouver Coastal Health

Trillium Health Partners:

  • Bruyère Hospital
  • Grand River Hospital
  • The Hospital for Sick Children (SickKids)
  • Prism Eye Institute
  • SE Health
  • Sinai Health System
  • Sunnybrook Health Sciences Centre
  • University Health Network
  • Unity Health Toronto

The additional $13 million of the announced investment will be doled out based on need after some time has passed to assess the results of the network.

Would you recommend this article?


Thanks for taking the time to let us know what you think of this article!
We'd love to hear your opinion about this or any other story you read in our publication.

Jim Love, Chief Content Officer, IT World Canada

Featured Download

Buckley Smith
Buckley Smith
Staff writer for IT World Canada. Covering the world of technology as it applies to business. Buckley is an avid sports fan who loves travel, food, and music. Can be contacted at [email protected] or 416-290-2000.

Featured Story

How the CTO can Maintain Cloud Momentum Across the Enterprise

Embracing cloud is easy for some individuals. But embedding widespread cloud adoption at the enterprise level is...

Related Tech News

Get ITBusiness Delivered

Our experienced team of journalists brings you engaging content targeted to IT professionals and line-of-business executives delivered directly to your inbox.

Featured Tech Jobs