INOVAIT and Government of Canada Fund New R&D Projects in AI-Powered Image-Guided Therapy
INOVAIT commits over $1.35M to support 10 new collaborative projects advancing AI-powered image-guided therapy across Canada
INOVAIT, Canada’s image-guided therapy (IGT) and artificial intelligence (AI) commercialization network, today announced the latest recipients of its Pilot Fund at the Medventions Toronto Innovation Day, hosted at Sunnybrook Health Sciences Centre. This research and development (R&D) funding program supports cutting-edge 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 committed $1.35M to support 10 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 selected projects is nearly $4.16M contributed by all project participants along with INOVAIT.
The Pilot Fund provides up to $150,000 in non-dilutive, reimbursement-based funding for collaborative R&D projects lasting 9 to 15 months. To date, INOVAIT has selected over 100 IGT-AI projects for funding, leading to an infusion of over $128M into the Canadian image-guided therapy sector across the last six years.
