INOVAIT Launches Funding Program to Advance Medical Technology

INOVAIT Introduces the Pilot Fund for Innovative Health Solutions

INOVAIT, a notable network in the Canadian image-guided therapy (IGT) and artificial intelligence (AI) sector, is excited to announce the opening of its Pilot Fund program. This initiative aims to boost collaborative research and development (R&D) projects that leverage AI, machine learning, and big data to enhance IGT technologies.

Purpose of the Pilot Fund

The purpose of the INOVAIT Pilot Fund is to initiate the most promising IGT-AI projects, significantly improving patient care and contributing to economic growth. With a total of up to $150,000 available in non-dilutive funding, organizations can utilize this opportunity to support their short-term, commercialization-focused R&D projects. INOVAIT will reimburse up to one-third of the eligible costs incurred during the project.

History of the Pilot Fund

Since inception, the Pilot Fund has allocated nearly $8 million to support a total of 65 IGT-AI projects nationwide. Each project is meticulously selected based on its scientific, clinical, and technical merit, along with its potential for significant commercial success and economic influence.

Leadership Insights

Kullervo Hynynen, Co-Executive Director of INOVAIT, emphasized the program's success: "The INOVAIT Pilot Fund represents a vital pathway for advancing medical technology in Canada. Each round of funding invigorates our enthusiasm as we uncover and foster groundbreaking innovations emerging from renowned companies, hospitals, and universities." This sentiment reflects the network's commitment to enhancing medical technologies.

Eligibility and Application Process

Canadian corporations, academic institutions, hospitals, and non-profit organizations are encouraged to apply. Interested parties should access the INOVAIT Funding Portal and submit their proposals between designated dates. Detailed information will be provided during an online information session.

Upcoming Information Session

A webinar is scheduled for participants, allowing applicants to gain insights into the application process. This session, held in English, will cover crucial details and answer attendees' questions. Following the live event, a recording complete with English and French captions will be made available.

About INOVAIT

INOVAIT serves as Canada's premier membership network in image-guided therapies and AI. Its mission revolves around supporting the development and commercialization of cutting-edge IGT technologies. Established in 2020 through the initiative of Sunnybrook Research Institute, INOVAIT plays a pivotal role in bolstering Canada's prowess in digital innovation and clinical research, facilitated by funding, networking, and extensive training.

About Sunnybrook Research Institute

Sunnybrook Research Institute (SRI) operates as the distinguished research arm of Sunnybrook Health Sciences Centre, known for its strong affiliation with the University of Toronto. With an expansive range of programs addressing both basic and applied sciences, SRI excels in developing innovative healthcare solutions for over 1.3 million patients annually.

Frequently Asked Questions

What is the INOVAIT Pilot Fund?

The INOVAIT Pilot Fund is a reimbursement-based funding program designed to support innovative projects in image-guided therapy and artificial intelligence through collaborative R&D efforts.

Who can apply for the Pilot Fund?

The competition is open to Canadian corporations, universities, hospitals, and non-profit organizations engaged in relevant research and development projects.

How much funding can organizations request?

Organizations can request up to $150,000 in non-dilutive investment to support their projects, with INOVAIT covering a portion of supported costs through reimbursement.

When are applications open?

Applications can be submitted between specified dates through the INOVAIT Funding Portal, which provides the necessary platform for proposal submission.

Is there a webinar for potential applicants?

Yes, INOVAIT will host an online information session to guide interested applicants on the submission process and answer questions regarding the Pilot Fund.

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