Four ventureLAB Companies Announce HTF Awards at $2.1M
Edit: A previous version of this article stated in error that three companies working with ventureLAB will receive $1.4M. We’re thrilled to update this post with an additional award to Homecare Intelligence Inc. at $500,000.
Just before the holiday break in 2017, the Ministry of Health and Long-Term Care announced another round of Health Technologies Fund (HTF) awards, four of which will be given to ventureLAB companies and their collaborators.
- Of the $5.47M committed to 12 projects throughout 2017-18, MedChart, BrainFx, Homecare Intel Canada and Eve Medical have been awarded $2.1M
- $10,870,000 has been committed to 27 projects, supported by Ministry of Health and Long-Term Care
- Seven ventureLAB companies have received HTF funding to date, totaling $2,579,293, approximately 24% of the funding available
- The first round of HTF projects included ForaHealthyMe, WinterLight Labs and NextUp Care at $619,474
Read on below to learn about these upcoming projects and how ventureLAB has helped each of the recipients.
CAREChart[email protected] – Setting the New Standard for After Hours Care of Cancer Patients in Ontario
MedChart, a patient-centric medical record app, was awarded $497,620 to develop a software project called [email protected] MedChart will be working with a team of healthcare centres including Southlake Regional Health Centre, Bayshore HealthCare Ltd., University Health Network and Cancer Care Ontario. The project, subtitled “Setting the New Standard for After Hours Care of Cancer Patients in Ontario” aims to improve symptom management for cancer patients by combine telemedicine and online access to health records in an effort to reduce costly visits to emergency departments.
MedChart founder James Bateman has been working with ventureLAB since 2016 on key milestones including advisory support for a significant capital raise and an introduction that resulted in closing the company’s first customer. ventureLAB also provided MedChart with customer connections that landed a multi-partner FedDev project and supported the process of successfully landing an Embedded Executive through the BAP program.
Brain Health Screening and Risk Management Program
Over the last five years ventureLAB advisors and the BrainFx team have worked closely together, from investment support through ventureLAB’s previous Genesis program (which led to an early angel investment round), to introductions to customers, partners and programs. ventureLAB also provided BrainFx with an introduction that resulted in a CIHR eHIPP funding. Even from an early stage, ventureLAB provided BrainFx co-founders Tracy Milner and Heather Condello with guidance on business model development, value proposition and go to market strategy.
BrainFx has been awarded $493,000 to develop a program to assess brain health and provide risk management programs for patients either at home, or in hospital. The collaborative team running this project include BrainFx, Saint Elizabeth Health, ThoughtWire Corp., and Wilfrid Laurier University.
Designing a Culturally-Appropriate HPV Screening Program with Communities
Eve Medical, a company that provides women with in-home screening kits (Eve Kit) for common STIs will be partnering up with Saint Elizabeth Health, Eve Medical, Women’s College Hospital – Institute for Health System Solutions and Virtual Care, N’Mninoeyaa Aboriginal Health Access Centre, Access Alliance, Roche Diagnostics, Mount Sinai Services. Together they will design a human papillomavirus screening program specifically for Indigenous populations. The program will allow for online access to results within a week, and follow-up care with a health-care professional. This project will recieve $469,001.
Since 2015, ventureLAB has helped Eve Medical founder Jessica Ching to close an early capital raise, supported a successful crowdfunding campaign and provided speaking opportunities through peer to peer networking events.
Improving Home and Community Care Through the Use of Algorithms and Advanced Engineering
Homecare Intelligence Inc. has secured $500,000 from the Health Technologies Fund to develop logistics software to streamline home care visits. By analyzing the data, the software will make it possible to improve patient care by increasing visits with the same number of available staff.