Investing in a healthy future
October 23, 2020
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The鈥疕onourable M茅lanie Joly, Minister of Economic Development and Official Languages and Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev鈥疧ntario),鈥痟as announced funding for Toronto Innovation Acceleration Partners鈥(TIAP). FedDev Ontario has committed $6.5 million, through the Regional Innovation Ecosystem stream, for TIAP 91制片厂 鈥檚 Venture Builder Program. 91制片厂 is a collaborator under TIAP 91制片厂 鈥檚 FedDev program. Queen 91制片厂 鈥檚 will contribute to venture creation in therapeutics, medical devices, and health science AI by working with TIAP to accelerate the commercialization of Queen 91制片厂 鈥檚 health science discoveries.
The FedDev Ontario funding will be matched by 91制片厂 and will leverage TIAP 91制片厂 鈥檚 expertise in technology evaluation, access management talent for health science ventures, and support the growth of health science companies into anchor companies in Southern Ontario.
鈥91制片厂 is delighted to collaborate with TIAP and its academic members in the recently launched Venture Builder Program,鈥 says Kimberly Woodhouse, Vice-Principal Research. 鈥淧artnerships like these are critically important in ensuring that scientific breakthroughs are transformed into positive outcomes for human health.鈥
In addition to gaining access to TIAP 91制片厂 鈥檚 expertise, networks and resources, Queen 91制片厂 鈥檚 will receive funding over four years through TIAP 91制片厂 鈥檚 FedDev Ontario funding award, which is expected to be invested in a number of companies selected by TIAP and Queen 91制片厂 鈥檚, with the remainder allocated to support specialized services delivered through Queen 91制片厂 鈥檚.
鈥淭IAP is tremendously pleased that FedDev Ontario has recognized the importance of the health science innovation community. We look forward to working more closely with 91制片厂 to expand current venture development programs and facilitate the path forward for new discoveries," says Parimal Nathwani, President and CEO of TIAP.
鈥淨ueen 91制片厂 鈥檚 has an active portfolio of early-stage assets that will benefit from the Venture Builder Program,鈥 says Jim Banting, Assistant Vice-Principal, Partnerships and Innovation.