Federal Government invests $15 million to support the development of commercialization pipelines for healthcare innovation, giving a boost to the hospital’s incubator, CreateIT Now at Southlake
(July 21, 2016 – Newmarket, ON) Hon. Navdeep Bains, Minister of Innovation, Science and Economic Development, today announced a $15 million investment in the Health Ecosphere: An Innovation Pipeline for Commercial Health Solutions—a joint project of Southlake Regional Health Centre, York University and University Health Network’s Centre for Global eHealth Innovation.
This investment, made through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), will support Southlake and its partners to develop and commercialize 37 personalized and enterprise health technology solutions over the next three years, and will create or sustain an estimated 128 jobs.
The Government of Canada’s $15 million contribution will be matched by $19.5 million in cash, or in-kind contributions, from private-sector and academic partners, bringing the total investment to $34.5 million.
Southlake will receive $6.8 million of this investment to support the development of 18 health-related technologies, including an in-patient cardiac management system and data repository; an artificial intelligence system to detect falls in the home; as well as validating a predictive analytics application to support advanced clinical decision making for newborns with sepsis.
This investment will also give a boost to the Hospital’s health incubator, CreateIT Now at Southlake. Along with its partner ventureLAB, Southlake will identify 15 technologies that can address real-world clinical challenges through a dragons-den-style selection process, which will be open to small and medium-sized enterprises. The companies chosen will be invited to work with Southlake to develop and commercialize their technologies.
In addition to this $6.8 million federal investment, private-sector and academic partners will contribute $7.9 million for a total of $14.7 million funding for projects undertaken at Southlake as part of the overall collaborative.
Today’s announcement is an institutional commitment to healthcare innovation with two years of collaborative planning, during which Southlake and York worked diligently to bring together 32 academic, public-sector, and private-sector partners, including the University Health Network, the University of Ontario Institute of Technology, Seneca College, IBM and the Canadian Heart Research Centre, among many others, to identify products and projects that meet a rigorous set of criteria that will ensure the best chance of success in the marketplace.
These solutions will assist in providing connected and coordinated care across the system by integrating previously segregated markets; helping patients with chronic disease change their behaviour; and leveraging big data analytics to develop and commercialize predictive-health solutions leading to better outcomes for patients and reduced healthcare costs.
“Through innovation and commercialization, Southlake is committed to shifting the healthcare paradigm in Canada by taking healthcare from an economic drain to an economic gain.”
“The Federal Government’s investment will help Southlake embrace innovative technologies to drive system integration and create value in healthcare delivery.”
“In addition to benefits these new technologies will have for our patients, we are also creating opportunities for Canadian companies to attract investment, create jobs, and reduce the commercialization gap of healthcare technologies in Canada.”
- Dr. Dave Williams, President and CEO, Southlake Regional Health Centre
“Fostering the commercialization of healthcare technology is a catalyst to a more sustainable healthcare system, improved quality, and the highest level of patient safety. By working collaboratively with startups and small to medium-sized enterprises, Southlake, through its incubator CreateIT Now, is playing a critical role in fostering the adoption of the healthcare technology to best benefit our patients and the healthcare sector as a whole.
“While we are a top spender in research and development, Canada lags when it comes to commercializing that research. With FedDev Ontario’s investment we can capitalize on the opportunities this gap offers and provide more entrepreneurs with access to the real-world advice of our clinicians and help to develop technologies that will have a significant impact on patients’ lives.”
- Gary Ryan, Chief Innovation Officer, Southlake Regional Health Centre
“Some of the world’s most successful companies started out as small businesses in basements and garages. The entrepreneur that revolutionizes healthcare could be sitting in a Newmarket basement right now, trying to figure out how to bring their technology to market. With this investment from FedDev Ontario we can help her do it through the Health Ecosphere.”
- Pat Clifford, Director, Research and Innovation, Southlake Regional Health Centre
“Our Government is committed to positioning Canada as a global centre for innovation – one that creates well-paying jobs, drives growth across all industries and improves the lives of all Canadians. Today’s announcement is a prime example of that policy in action. The most innovative solutions often happen when people from different fields collaborate. That’s why it’s important for universities, healthcare providers, the business community and government to work together. That’s how we will come up with health-care solutions that improve the quality of life for Canadians.”
- The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Federal Economic Development Agency for Southern Ontario
The Health Ecosphere Innovation Pipeline
The Health Ecosphere Innovation Pipeline is a collaborative enterprise led by York University and Southlake Regional Health Centre. Along with University Health Network (UHN), the partners work with businesses and other research institutes to develop personalized healthcare technologies and state-of-the-art enterprise solutions for customized health management and care. Technologies include healthcare apps, medical devices, and big data platforms. These solutions will provide connected and coordinated care across the system by integrating previously siloed markets; helping patients with chronic disease change their behaviour; and, leveraging big data analytics to develop and commercialize predictive health solutions, leading to better outcomes for patients and reduced health care costs. The project is supported by a $15M financial contribution from the Federal Economic Development Agency for Southern Ontario, matched by $19.5M from 32 partners engaged in the development of 37 new technologies.
Technologies that Southlake will help develop as part of this project
In partnership with the University Health Network and TRI, Southlake with undertake new product development and testing of an advanced sensing and artificial intelligence system that automatically detects falls in the home, overcoming the need to manually activate currently-available personal emergency response systems.
The University of Ontario Institute of Technology will test, validate, and demonstrate proof-of-concept for its disruptive technology known as Artemis to support advanced clinical decision making for neonatal infants with sepsis at Southlake Regional Health Centre.
Southlake will partner with MDPrimer and Canadian Heart Research Centre, in the development of an in-patient cardiac management system, expansion of an information exchange portal, and the development of a data repository for big data analytic applications.
Southlake and its partner ventureLAB will identify 15 technologies required to address clinical problems. Then through a through a dragons-den-style selection process, Southlake and its partner ventureLAB will choose 15 small to medium-sized companies to invited to work with Southlake to develop health technologies that will be commercialized across healthcare networks locally and globally.
$15 M Federal Contribution
$19.5 M Total Cash leveraged from Partners*
$34.5 M Total R&D Value of Project*
128 Jobs created or sustained