TORONTO , Sept. 23, 2024 /PRNewswire/ - INOVAIT, the pan-Canadian innovation network supporting advancements and commercialization in image-guided therapy (IGT) and artificial intelligence (AI), is excited to announce the latest recipients of its Pilot Fund. This competitive funding program is awarded to compelling medical technology projects that harness the transformative power of AI, machine learning, and big data analytics in IGT to advance medical innovation and streamline care.
INOVAIT has committed just under $730,000 to support six new projects involving collaborations between small- and medium-sized enterprises, hospital research centres, and academic institutions, creating jobs and launching healthcare innovation across the country. The combined value of the six projects is over $2.2M , contributed by all participating companies, organizations, and partners.
INOVAIT is proud to offer this non-dilutive financial support to Canada's most innovative technologies in IGT. Funding was provided coast to coast to projects that demonstrated the highest commercialization potential and economic impact, including projects in British Columbia , Alberta , Manitoba , Ontario , Quebec , Nova Scotia , and Newfoundland . Kullervo Hynynen , co-executive director of INOVAIT, proudly stated, "INOVAIT's financial support promotes the practical application of research and development efforts, speeds up market readiness of innovations, generates high-impact jobs for Canadians and fuels the.
