FedDev Ontario invests $10 million to support 180 companies, create and maintain 480 jobs, and 270 job opportunities for women
Ottawa – Health sciences are essential to ensuring the vitality and well-being of Canadians, and the need for made-in-Canada solutions continues as we finish the fight against COVID-19. Despite the potential in this dynamic sector, innovators frequently face challenges in bringing their promising technologies to market. Further to this, women remain under-represented, especially in positions of leadership. That is why the Government of Canada is committed to supporting both women and growth in this sector.
Helena Jaczek, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), Jenna Sudds, MP for Kanata–Carleton and Parliamentary Secretary for the Minister of Women, Gender Equality and Youth, announced a non-repayable contribution of $10 million for the Ontario Bioscience Innovation Organization (OBIO®) to expand the Early Adopter Health Network (EAHN™) program, through the Jobs and Growth Fund.
EAHN™ is a collaborative ecosystem designed to connect health science companies with access to capital, business resources and coaching to commercialize innovative technologies and match commercial-ready health technologies with health organization members. Once matched, health organization members work to evaluate the company’s proposed innovation and distribute and adopt the technology, while showcasing the product to the global market. This investment will help expand the EAHN™ program by leveraging the existing network of over 20 hospitals across southern Ontario so that more companies can access this initiative and validate their technologies in a health setting.
The project will support 180 SMEs, including financial support for more than 30 SMEs with high-potential health technologies, and create and maintain 480 jobs in the region. Application intake is open and details can be found on OBIO®’s EAHN™ website.
To increase the representation of women in the health and life sciences sector, OBIO® will also launch the Women in Health Initiative (WiHI). This programming will provide on-the-job learning as well as financial support for training costs, with a focus on preparing women for leadership positions. More than 270 women are expected to be supported through the program. More information is available on OBIO®’s website.
“OBIO® is continuing to foster innovators of new and innovative Canadian technologies while supporting the full and equal participation of women in our economy by offering programs that set women up for a successful career. Our Government is committed to supporting the health of Canadians and our healthcare innovators, and helping women entrepreneurs reach their full potential in this important industry.” – Helena Jaczek, Minister responsible for the Federal Economic Agency for Southern Ontario