Health Innovation Initiative Supports Business Growth and Job Creation

News release

Federal investment will expand Newfoundland and Labrador’s medical technology industry

May 14, 2018 – St. John’s (NL) – Atlantic Canada Opportunities Agency

Innovation in the healthcare sector helps improve the quality of life for Canadians, develops new opportunities for local businesses and creates jobs. To that end, the Government of Canada is investing $826,838 in the Newfoundland and Labrador Association of Technology Industries’ (NATI) work to establish an innovation and entrepreneurship network within the province’s healthcare sector.

The funding was announced today, during the Innovation Week launch, by David Lametti, Parliamentary Secretary to the Minister of Innovation, Science and Economic Development (ISED), on behalf of the Honourable Navdeep Bains, Minister of ISED and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA).

The project includes: 1) a series of Hacking Health networking sessions to link healthcare professionals with entrepreneurs to kick-start healthcare solutions; 2) a partnership with the Memorial Centre for Entrepreneurship to develop health-specific business expertise through initiatives such as an Entrepreneur in Residence program; 3) pre-seed funding to accelerate health-related start-up companies and research, and; 4) expanding the Bounce Innovation Lab at Memorial University to provide physical space and medical expertise for research and development and start-up companies focused on health technology.

NATI is a not-for-profit industry association representing Newfoundland and Labrador’s advanced technology industry. It is partnering with a number of organizations, including Memorial University’s Faculty of Medicine and Eastern Health, to expand the province’s medical technology sector through this initiative.

This investment, made through ACOA’s Business Development Program, supports the objectives of the Government of Canada’s Innovation and Skills Plan to build a better Canada where everyone has the jobs, skills and learning to solve global challenges and strengthen communities. The Plan ensures that Canadians develop skills and seize new opportunities to succeed in a growing economy.

Quotes

“Our government understands that the jobs of the future depend on Canadians’ ability to continue to adapt, innovate, and maintain our competitive edge in the fast-paced and increasingly global economy. Through this investment, NATI is working to provide a collaborative, supportive environment to stimulate growth and diversification in Newfoundland and Labrador’s health innovation sector.”

- The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA

“Newfoundland and Labrador has a dynamic and growing technology industry, with expertise in areas such as ocean technology, genetics and the energy sector. This investment supports NATI’s efforts to expand the health innovation sector, which will create new opportunities for businesses and researchers and better health outcomes for people.”

- David Lametti, Parliamentary Secretary to the Minister of Innovation, Science and Economic Development

“The Government of Canada is committed to investing in the research, businesses and organizations that are cultivating a culture of innovation in our country. This creates new jobs and export opportunities across all sectors of our economy, and helps improve the lives of everyday Canadians.”

- Nick Whalen, Member of Parliament for St. John’s East

“The funding announced today brings together many partners to realize a shared vision for the future of our province – a future where innovators and entrepreneurs have the resources they need to advance prosperity in Newfoundland and Labrador. This is one more example of how the provincial government is leveraging more federal support than ever, and promoting collaboration that grows the economy, creates efficiency, and delivers better services and outcomes for the residents we serve.”

- The Honourable Dwight Ball, Premier of Newfoundland and Labrador

“The Health Innovation Initiative will help build capacity in medical technology and shape the delivery of solutions in healthcare in the province. Together with our partners, we have already seen some early success in Hacking Health as well as significant interest in the recent rollout of the Embryo Grant program designed to help early stage medical technology ideas become tangible healthcare solutions.”

- Kendra MacDonald, Chair and Acting CEO of NATI

Contacts

Paul McGrath
Director, Communications
ACOA NL
709-772-2984
paul.mcgrath@canada.ca

Michelle Cannizzaro
Office of the Premier
709-729-3960
michellecannizzaro@gov.nl.ca

Nancy Drover
Senior Director, Business and Communications
Newfoundland Labrador Association of Technology Industries
709-757-3253
nancy@nati.net


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