MIL OSI Translation. Canadian French to English –
Source: Government of Canada – in French
Press release
Government of Canada invests in specialized program that will help 75 southern Ontario health sciences SMEs
September 27, 2024 – Hamilton, Ontario
Canada’s health sciences innovation sector continues to play a leading role in developing innovative ideas and products that will support a better, healthier future. The Government of Canada is providing businesses and organizations in this vital sector with the support they need to deliver effective health solutions for Canadians.
Yesterday, the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), attended the 14th edition of the LiONS LAIR presentation competition organized by Innovation Factory. More than 400 members of Hamilton’s life sciences ecosystem came together to celebrate innovation in the Hamilton-Halton region.
At the event, Minister Tassi announced a Government of Canada investment of over $5 million to enable Innovation Factory, in collaboration with the Synapse Life Sciences Consortium, to support the continued delivery of the Southern Ontario Pharmaceutical and Health Innovation Ecosystem (SOPHIE) program, the period for receiving applications launched yesterday. The program will help up to 75 southern Ontario SMEs commercialize their products and scale their operations. Participating companies will have access to mentoring and advisory services, seed funding and new partnerships. This critical work will help accelerate their product development and anchor health sciences companies in southern Ontario.
This project aligns with the Government of Canada’s priority to support new growth opportunities in this important sector. Innovators and organizations that create health care technologies help protect the health of Canadians, while strengthening Canada’s health sciences sector and creating new job opportunities in Canada.
Quotes
“Innovation Factory is undertaking important work that will support the expansion and development of 75 SMEs, while helping to anchor health sciences companies here in Canada. Today’s investment demonstrates the Government of Canada’s commitment to supporting health sciences innovators and ensuring a healthier future for Canadians.” – The Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario
“The renewal of funding for Innovation Factory’s SOPHIE program is a testament to the remarkable impact it has had on Ontario’s health sciences sector over the past several years. This continued support from the Government of Canada allows us to build on that success, fostering innovation, job creation and the global competitiveness of the health sciences industry. We look forward to seeing SOPHIE continue to transform the landscape for health sciences entrepreneurs and strengthen Ontario’s position as a hub for health innovation.” – David Carter, President and CEO, Innovation Factory
Quick Facts
Innovation Factory is a non-profit business accelerator that has been acting as a catalyst for technological innovation in the Brant, Halton, Hamilton and Norfolk regions since 2010.
Innovation Factory provides business services, training, mentoring and strategic relationships to drive market adoption, leverage intellectual property and increase revenue, investment and jobs. Innovators can also access sector-specific resources, including smart transportation data and testing environments, as well as a formal health and health sciences innovation ecosystem.
FedDev Ontario previously provided an investment of $7 million to Innovation Factory to implement the first call for applications for the SOPHIE program. To date, through SOPHIE, 166 innovative Ontario health sciences start-ups and scale-up companies in the health, medical device and pharmaceutical sectors have received support to develop and commercialize new products and services.
Applications for the SOPHIE program are currently being accepted. Additional details regarding the program and the application process are available on the SOPHIE website.Innovation Factory
Since 2015, the Government of Canada, through FedDev Ontario, has invested more than $237 million in 58 projects in the life sciences sector, supporting more than 7,700 jobs.
Related links
Contact persons
Edward HutchinsonPress SecretaryOffice of the Minister responsible for the Federal Economic Development Agency for Southern OntarioEdward.hutchinson@feddevontario.gc.ca
FedDev Ontario Media Relationsmedia@feddevontario.gc.ca
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EDITOR’S NOTE: This article is a translation. Apologies should the grammar and/or sentence structure not be perfect.