The Government of Canada will be investing in a $20-million project to scale up health and biosciences companies.
Today, Mary Ng, Minister of Small Business and Export Promotion, announced the federal government will provide an initial $7-million investment to help establish an integrated market allowing promising companies to work directly with health care organizations. This new partnership will be known as the CAN Health Network.
“Through this integrated market, small and medium-sized enterprises (SME) and leading startups will be able to work with early adopter institutions to collaboratively research, develop and refine Canadian medical technologies to make them market ready,” said the federal government, in a release.
The initiative will allow new health innovations to be introduced into the marketplace, allow highly qualified positions to be created and maintained, assist SMEs in gaining access to the marketplace, and allow new technologies to be adopted by multiple health care providers.
The first parts of the national network will be established in western Canada and Ontario. Future expansion will include Quebec, Atlantic Canada, and northern Canada.
Western Economic Diversification Canada will provide a $3.5 million investment and the Saskatchewan Health Authority will lead the CAN Health Network in Western Canada, working with:
- Alberta Health Services
- Children’s Hospital Research Institute of Manitoba
- O’Brien Institute for Public Health, University of Calgary
- Vancouver Coastal Health
FedDev Toronto will provide the other $3.5 million investment and Trillium Health Partners will lead the CAN Health Network in southern Ontario, working with:
- Bruyère Hospital
- Grand River Hospital
- The Hospital for Sick Children (SickKids)
- Prism Eye Institute
- SE Health Care
- Sinai Health System
- Sunnybrook Health Sciences Centre
- University Health Network
- Unity Health Toronto
“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, in a statement.
“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.”