This investment will support Canadian companies in developing, commercializing and launching new technologies
December 7, 2022 - Québec, Quebec
The Government of Canada is committed to investing in companies that develop groundbreaking technologies and innovative solutions that benefit Canadians, especially seniors, and enable them to take care of their health as well as maintain their independence and lifestyle.
Today, the Honourable Jean-Yves Duclos, Minister of Health, on behalf of the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, announced an investment of $47 million through the Strategic Innovation Fund to support MEDTEQ+'s $154 million envisAGE Network, established with network co-lead AGE-WELL (a national network that develops technology and services for healthy aging). This contribution will bring together industry, health experts and investors to launch up to 100 projects to scale up and commercialize technologies, developed by small and medium-sized enterprises (SME), that are ready for national and global market adoption.
The Canadian population aged 65 and older is expected to double between 2009 and 2036. MEDTEQ+, in partnership with AGE-WELL, will collaborate in advancing Canada's AgeTech ecosystem by developing, validating and demonstrating technologies to help seniors and their caregivers succeed when facing challenges related to aging in place. Technological innovations include digital health technologies and artificial intelligence enabling remote patient monitoring, data analysis and connections to health care providers through telehealth and virtual medicine.
MEDTEQ+'s and AGE-WELL's goal is to accelerate the innovation of Canadian medical technologies and promote the creation and development of new technologies. Through the envisAGE Network, MEDTEQ+'s and AGE-WELL's priorities will be to fund projects focusing on seniors' autonomy, cognitive health, healthy lifestyle and connectivity. envisAGE aims to create 500 new jobs, support SMEs and secure new investments in companies in this field.
