Medventions Expands Innovation Program to Atlantic Canada

Medventions introduces a new Atlantic pilot to enhance the medical innovation and commercialization ecosystem in Canada.

Medventions, the most successful medical technology innovation and entrepreneurship program in Canada, is launching a pilot project in Newfoundland and Labrador and is extending its national presence. It is the third Medventions site in Canada that is being delivered in collaboration with the Newfoundland and Labrador Health Services and the Nova Scotia Health Innovation Hub.

Medventions is a hospital-based fellowship created by the Sunnybrook Research Institute in 2016 to develop commercialization capabilities in high-potential medical technology innovators. Fellows are placed in actual clinical settings and are accompanied by clinicians that help them discover unmet healthcare needs and transform them into practical solutions.

The Medventions Atlantic-NL cohort will be introduced in Carbonear and St. Johns, with emphasis being on eliminating technological gaps within anesthesiology. The participants will have practical skills on how to develop and commercialize medical equipment through organized training, mentoring, and connections with health system partners.

The program leaders emphasized that the medical technology industry of Canada is at a critical point of development, informed by the development in artificial intelligence and the growth in the number of people seeking healthcare. By investing in people and gaining commercialization experience, Medventions aims to expedite the transformation of clinical rhetoric into market-driven solutions.

The expansion, aided by INOVAIT and the Canadian government, will likely boost innovation, create high-value jobs, and keep Canada competitive in medical technology development.