OBIO® Life Sciences Critical Technologies & Commercialization Program (LSCTC)
Receive up to $250,000 in 2:1 Fund Matching.
The Ontario Bioscience Innovation Organization (OBIO) has launched a new program to provide infrastructure, commercialization, technology adoption and talent programming to Ontario small and medium enterprises (SMEs) in the life sciences sector. The OBIO® Life Sciences Critical Technologies & Commercialization Program (LSCTC) supports SMEs and emerging ventures to help drive intellectual property creation and advance innovative made-in-Ontario technologies, including but not limited to therapeutics, diagnostics, medical devices and digital health.
What will participants of OBIO’s LSCTC Centre of Excellence benefit from?
- Programs with non-dilutive funding streams to support projects related to:
- De-risking of emerging technologies & venture creation,
- Strengthening technology commercialization, including proof-of-concept, validation, demonstrations to advance product development milestones, and/or
- Technology adoption.
- The LSCTC Centre hub with access to subsidized shared office space;
- OBIO’s Knowledge Centre, including advisory, market research databases & industry resource library for OBIO® Members;
- A network of partners with expertise in the critical technologies and health science sector; and/or
- Business development and commercialization training.
What are the general eligibility criteria across all streams of this program?
Applicants must be:
- Either a private health science company based in Ontario, or an emerging venture with intellectual property (IP) developed in Ontario;
- Focused on developing human health science products/services, including but not limited to medical devices, diagnostics, digital health, health IT and therapeutics;
- Working to develop, integrate or have integrated at least one critical technology (5G/advanced networks, ethical artificial intelligence, blockchain, cybersecurity, quantum computing, and/or robotics) into your products, services and/or operations; and
- Committed to the creation and commercialization of made-in-Ontario IP.
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OBIO® Life Sciences Critical Technologies & Commercialization Program (LSCTC)
Amount of Funding
Strengthening Technology Commercialization: Provides 2:1 cash matching for funding between $25,000 to $100,000.
Technology Adoption: Provides 2:1 matching funds up to $250,000.
De-Risking of Emerging Technologies & Venture Creation: This program has no set maximum amount of funding allocated to it.
OBIO® Life Sciences Critical Technologies & Commercialization Program (LSCTC)
Eligible Applicants
Strengthening Technology Commercialization: A private, health science SME based in Ontario.
Technology Adoption: A private, health science SME based in Ontario.
De-Risking of Emerging Technologies & Venture Creation:
- Be either an emerging venture with intellectual property (IP) developed in Ontario, or an early stage, private health science small or medium enterprise (SME) (fewer than 500 paid FTE) based in Ontario with a high potential for company creation with operations in Ontario.
OBIO® Life Sciences Critical Technologies & Commercialization Program (LSCTC)
Eligible Projects
Strengthening Technology Commercialization Projects:
- Demonstrate that the technology solves a critical problem and a market exists for the product/service;
- Owns or has license agreement(s) in place for intellectual property associated with the technology; and
- Demonstrate that the completed project advances the company toward a significant value creation event.
Technology Adoption Projects:
- Successfully complete an initial pilot/validation study with supporting data;
- Create a market-ready product/service, ready to commercialize at scale;
- Raise dilutive funding or generating annual recurring revenues; and
- Are ready to have technology evaluated by a healthcare organization.
De-Risking of Emerging Technologies & Venture Creation:
- Seeks support with IP management, company creation, technology de-risking.
OBIO® Life Sciences Critical Technologies & Commercialization Program (LSCTC)
Program Deadline
Applications will be reviewed on a rolling basis.
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