For over two years, Innovation Factory has been helping creators commercialize healthcare products and processes. Located at McMaster Innovation Park, the Innovation Factory connects medical start-ups and more established companies with Hamilton’s Research Department to help transition products and processes toward full commercialization.
Recent innovations that have been recognized include:
Inexpensive safety patches can monitor vital signs, activity and even falls in older people in real time and send alerts to caregivers, meaning more people can recover from surgery at home with less risk. It is the first portable dialysis system that uses virtually no water, making dialysis accessible and sustainable worldwide. Medical devices that use artificial intelligence (AI) technology to detect the early stages of diseases such as cancer. Self-adjusting prosthetic sockets that adjust to changing leg sizes provide continuous comfort, overcome one of the most common problems with advanced medical devices in prosthetics, and address the pressing problem of patient mobility in healthcare.
All of these projects are being evaluated at the research institutes of St. Joe’s Healthcare or Hamilton Health Sciences here in Hamilton.
The Innovation Factory is currently accepting applications for the third cohort of the program titled the Hamilton Ecosystem to Accelerate and Leverage Trials of Health Innovation (better known as HEALTHI) Program. HEALTHI is partly funded by the National Research Council of Canada Industry Research Support Program to accelerate commercialization efforts by enabling life sciences and health tech companies to partner with leading research hospitals. The third round of funding will support 45 projects over two years, representing a total funding for small businesses of approximately $675,000.
Innovation Factory CEO David Carter commented: These businesses not only actively strengthen healthcare and its administration, but also promote economic development by establishing and expanding successful start-ups. “
HEALTH’s strategic partnerships with internationally renowned government and research institutes have not only strengthened the infrastructure of high-potential health science companies, but also acted as a springboard for innovative health solutions. For more information on HEALTHI, please visit https://innovationfactory.ca/funding-healthi/.
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