TORONTO, October 16, 2024 /CNW/ – INOVAIT, the pan-Canadian innovation network supporting advances and commercialization in image-guided therapy (IGT) and artificial intelligence (AI), is pleased to share their latest report entitled ‘Unlocking Medtech’s Potential: Canadas Strategic advantages in image-guided therapy and AI’. Through synthesized insights from interviews with founders and executives from 30 IGT companies in the INOVAIT network, this new report reveals the untapped potential of the image-guided therapy sector in Canada.
Image-guided therapy includes breakthrough technologies that integrate medical imaging techniques to improve the full spectrum of patient care, from diagnostic interventions to treatment planning and delivery, and post-treatment evaluation. This innovative healthcare pathway, championed by the Sunnybrook Research Institute, is gaining traction in healthcare due to significant improvements in patient outcomes, provider experience and cost-effectiveness.
Key Findings: The Benefits of Building an IGT Business in Canada
The report highlights several strategic benefits identified by industry leaders for founding and running their businesses Canadaincluded:
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Research excellence: A strong academic and research base that promotes innovation in IGT.
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Deep talent pool: Access to a skilled workforce in medicine, engineering and technology, including leading specialists in AI.
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Worldwide access: Opportunities for international collaboration and a geography and policy landscape that enables desired market expansion.
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Non-dilutive capital: Availability of sources of financing, including those from the government that do not require the relinquishment of equity.
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Capital efficiency: An environment conducive to the development of cost-effective businesses and technologies.
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Supportive community: A collaborative network that promotes resource sharing and knowledge exchange.
Overall, this report highlights that Canada possesses unique advantages to strengthen a global stronghold in IGT innovation.
As the global medtech landscape continues to evolve, this report serves as a milestone for stakeholders seeking to understand its unique benefits Canadas IGT sector. By capturing the authentic voices of Canadian industry leaders, INOVAIT showcases not only the potential of Canadian companies, but also the collaborative spirit that drives the advancement and commercialization of healthcare technology.
You can view the full report here: www.inovait.ca/reports
About INOVAIT
Founded in 2020, INOVAIT strategically invests in collaborative partnerships that build on this Canadas strength in digital innovation and health science research to create a critical mass of leading image-guided therapy (IGT) companies focused on artificial intelligence, machine learning and big data analytics. Led by the Sunnybrook Research Institute and supported by the Government of Canadas The Strategic Innovation Fund brings together small, medium and large businesses, research organizations, post-secondary institutions and nonprofits to collaborate, connect and collaborate. The network’s mission is to build a truly integrated IGT-AI ecosystem by driving continuous innovation, commercialization and collaboration that revolutionizes healthcare worldwide.
About Sunnybrook Research Institute
Sunnybrook Research Institute (SRI) is the research division of the Sunnybrook Health Sciences Centre, an internationally recognized academic health sciences center fully affiliated with the University of Toronto. With established programs in basic and applied sciences spanning three scientific platforms and ten clinical programs, SRI develops innovations in care for the more than 1.3 million patient visits the hospital receives annually. Recognized as a Center of Excellence in focused ultrasound, SRI has one of the most extensive and successful focused ultrasound research programs in the world, with technical, scientific and clinical experts accelerating progress in this field.
SOURCE INOVAIT
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