$4.7 million fuels 37 healthtech companies in BC
November 22, 2023
VANCOUVER – Circle Innovation Solutions, a leading non-profit organization dedicated to facilitating technology solutions and innovation, is proud to announce the SME projects selected for its Healthtech SME Program. The program was made possible through a $4.7 million contribution from PacifiCan, the Government of Canada’s economic development agency for British Columbia.
The Healthtech SME Program aims to enhance the competitiveness of British Columbia’s tech industry serving the healthcare sector, with the ultimate goal of bolstering robust economic growth and creating high value jobs for British Columbians.
With the $4.7 million in PacifiCan funding, supplemented by a $2 million contribution from industry partners, the $6.7 million has been allocated to 46 projects from 37 companies, ranging from $13,000 to $229,000. Emerging technologies that have advanced because of this funding include the application of SaaS in healthcare, addressing the needs of patients and caregivers to improve their quality of life, and employing technology, ultimately alleviating the ongoing challenges within the healthcare sector.
“Programs like this are a great example of collaboration between different levels of government, academia, and industry leaders to drive concrete innovation forward,” said Dr. Maryam Sadeghi (pictured), co-founder and CEO, MetaOptima. “We are excited to support organizations like Circle Innovation, while working closely with PacifiCan to scale MetaOptima’s innovative solutions across the globe.”
Working together with Simon Fraser University (SFU), this flagship endeavour extends eligible companies’ access to Circle Innovation’s network of healthcare technology experts, empowering them to expedite product development, scale their businesses, gain a deeper understanding of user requirements, explore new markets, and spearhead innovative technological solutions.
Among the projects are:
- MetaOptima, who is investing resources into its skin magnifier product called DermEngine, which uses artificial intelligence to help dermatologists remotely zero in on potential cases of cancer, while turning an ordinary iPhone into a medical imaging tool capable of detecting early-stage melanoma.
- Human in Motion Robotics, a next-generation exoskeleton that empowers individuals with motion disabilities to walk freely and independently.
- AltumView, a privacy-preserving smart activity sensor that employs artificial intelligence technology to monitor the whereabouts of individuals within their homes. Stick figures preserve privacy while facilitating the monitoring of aging adults by families and care providers.
- Tuktu Care, a community-powered care provider that leverages SaaS technology to create meaningful connections between caregivers and care recipients needing home-based care.
Other recipients of the funding include prominent companies such as myMomentum, Cambian, Excelar Technologies, CSN Pharma, Ayogo Health, Birota, Care2Talk, Curatio, VitaminLabs, Tickit Health, OkaSciences, MindfulGarden, ThyForLife, Charlie Wellbeing, Cortico Health, Careteam Technologies, Rostrum Medical Innovations, Variational AI, iClinic, HEADCHECK Health, Difinity Solutions, and Scanbo.
The ongoing collaboration between PacifiCan and Circle Innovation is poised to generate approximately 85 jobs, provide training for over 600 workers in British Columbia, and bolster the growth of over 40 SMEs, with the goal of generating $14 million in revenue within the province by 2025.
“British Columbia is fertile ground for companies to innovate and grow,” said the Honourable Harjit S. Sajjan, minister of Emergency Preparedness and minister responsible for the Pacific Economic Development Agency of Canada. “By investing in Circle Innovation’s Healthtech SME Program, we are creating quality jobs, unleashing new ideas, helping B.C.-made products find global success, and building the economy of the future.”
“Since partnering with these visionary entrepreneurs, we’ve witnessed numerous healthtech organizations expand their presence, advance their technologies and speed to market, while connecting with other changemakers in their fields – many of which address top concerns for health-related care in B.C.,” said Dr. Sylvain Moreno, chief executive officer, and scientific director of Circle Innovation. “What’s also become evident through the implementation of this program is the impact an innovative model like ours can have and how it can develop a robust industry ecosystem. We’re excited to see how this program will continue to expand through our partnership with PacifiCan and industry stakeholders.”
“Circle Innovation plays a pivotal role in connecting SMEs in British Columbia with consumers, technology providers, and academia,” added Dr. Moreno. “We are proud of our track record over the past seven years in fostering a vibrant tech industry ecosystem in B.C.”
For more information about Circle Innovation and their Healthtech SME Program, please visit www.circleinnovation.ca.