The global MedTech industry is on a steady growth trajectory, projected to expand from approximately $668.2 billion in 2024 to $694.7 billion by 2025, an annual increase of around 4%. To stay ahead in this evolving landscape, MedTech startups need access to cutting-edge infrastructure, resources, and expertise. There is a significant gap between what entrepreneurs create as prototypes and what manufacturers can take on as a market-ready medical device. This gap is primarily due to the need for testing, manufacturing scalability, and adherence to quality standards. To bridge this gap, MedTech entrepreneurs typically need to engage with specialized accelerators, testing labs, and contract manufacturers who can guide them through the complex process of scaling and regulatory approval.
By providing a world-class medical technology lab, ventureLAB becomes the one-stop solution that MedTech entrepreneurs need to successfully bridge the gap between prototype development and market-ready devices. It would offer a holistic ecosystem that covers everything from testing and clinical trials to regulatory guidance and manufacturing scaling, dramatically improving the chances of success for early-stage MedTech companies. This would be a game-changer for the industry, helping to reduce the time and cost to market, ensuring devices are safe, effective, and manufacturable, and ultimately enabling entrepreneurs to attract the investment they need to succeed. That’s where ventureLAB’s MedTech Dry Lab comes in.
ventureLAB is a Canadian innovation hub that supports startups and scaling companies in the medical technology sector. Our MedTech program offers assistance in areas such as fundraising, certifications, intellectual property strategy, business development, international expansion, and go-to-market tactics. One of the key components of this initiative is the MedTech Dry Lab, a state-of-the-art facility designed to support the development of groundbreaking medical technologies. By providing a space where startups can design, simulate, and test medical devices without chemical or biological experimentation, the Dry Lab enables innovators to refine their products before costly clinical trials.
Nima Khadem Mohtaram, Head of MedTech Initiatives at ventureLAB, highlights its significance: “We’re not just supporting MedTech innovation; we’re building the foundation for the next wave of healthcare breakthroughs.”
What is a MedTech Dry Lab?
In the context of medical device development, a dry lab refers to a specialized environment where no wet or chemical experiments are performed. Instead, it is used primarily for:
- Design and prototyping of medical devices
- Testing and measurement using specialized instruments
- Data analysis and modeling of medical devices or related processes (e.g., mechanical, thermal, fluid dynamics, human design factors)
- Manufacturing and assembly tools
- Simulation, computation, and software development
By enabling early-stage validation, the Dry Lab helps startups optimize their technologies and accelerate their path to commercialization, reducing risks and costs along the way.
Why Do Founders Need a Dry Lab?
Dry labs are essential for virtual testing, refinement, and optimization of medical devices without the need for physical or biological samples. Based on feedback from our founders, some key engineering needs for medical device development include:
- Ultrasound phantoms
- Oscilloscopes, multimeters, balances
- Specialized safety testing equipment
- Microfabrication tools
- LED emission testing equipment for photobiological safety
- Imaging systems and electrical/sensor measurement equipment
A notable component of ventureLAB’s MedTech initiative is the Hardware Catalyst Initiative (HCI) MedTech Lab, developed in partnership with Sterling Industries. Located within Sterling Industries' manufacturing facility in Vaughan, Ontario, this cutting-edge lab is dedicated to the development of microelectronic hardware devices for medical applications. It provides companies with access to advanced medical device manufacturing expertise and resources, reinforcing ventureLAB’s commitment to supporting hardware-based MedTech startups.
To further empower startups, ventureLAB is continuously enhancing its MedTech Dry Lab with:
- Cutting-edge prototyping & testing tools to refine and validate medical devices.
- AI-powered simulation & data analysis to optimize performance and predict outcomes.
- Regulatory compliance support to navigate the complexities of medical device approvals.
- Strategic partnerships for commercialization to connect startups with key industry players.
ventureLAB is actively shaping Canada’s MedTech landscape by forging strategic partnerships across healthcare, academia, and industry. Collaborations with institutions such as Mackenzie Health, York University’s Medical School, and the Vaughan Healthcare Precinct are positioning Canada as a global leader in MedTech innovation. These alliances bridge the gap between healthcare providers, policymakers, and industry experts, ensuring that Canadian startups have the support needed to thrive in a competitive market.
ventureLAB’s MedTech Dry Lab is more than just a workspace, it’s an innovation hub designed to accelerate the development of healthcare solutions.
