L-Spark has opened applications for a new MedTech accelerator program in partnership with Telus, BlackBerry, Solace, and the Canadian Internet Registration Authority (CIRA).
Connected medical devices are part of the Internet of Medical Things (IoMT), a segment that was already growing at 25% annually pre-COVID-19. It was predicted that by 2030, 40% of hospitals, practices, and health care organisations will have implemented IoMT into their processes – a rate that is likely to increase with the wider implementation of telehealth catalysed by the pandemic.
The new six-month accelerator program will provide business mentorship to accelerate the growth of the participating companies and facilitates relationships with healthcare organisations to provide feedback and help validate the companies’ solutions.
L-SPARK provides the business mentorship to accelerate the growth of the participating companies and is also creating an advisory council of healthcare experts to provide feedback and help validate the companies’ solutions
“COVID-19 has accelerated the adoption of telehealth applications, and the ability to deploy various health monitoring devices that can securely connect patients and clinicians remotely will further enhance the accessibility of care,” said Leo Lax, executive managing director of L-Spark.
“These technologies will be essential to the future of healthcare.”
In addition to mentorship and technical support, the program is intended to provide a technology platform that allows entrepreneurs to advance the creation, integration, and commercialisation of connected medical devices and associated software.
You will also gain access to a Healthcare Advisory Council made up of healthcare leaders, experienced medical device innovators, and other leaders in the ecosystem, to provide feedback and help validate the companies’ solutions.
The program’s technology platform is designed to allow medical devices to be securely connected from any location and be immediately usable and remotely manageable. The program will also provide access to technical support to help entrepreneurs integrate their medical devices and software solutions into the platform.
The MedTech accelerator builds on L-Spark’s Secure IoT accelerator program that also saw companies build solutions on a proof-of-concept platform created by Telus, BlackBerry, and Solace in 2019.
The MedTech program is intended to help shorten the platform’s time to market by two to three years.
“Through secure, connected and privacy-enabled medical and wellness devices, clinicians can improve health outcomes for their patients and alleviate pressure in hospital emergency rooms and clinics,” said Ibrahim Gedeon, CTO of Telus.
“Through our collaboration with L-Spark, we can help expedite the adoption of medical IoT technology and boost Canada’s economic recovery.”
Typical applications would include remote patient monitoring and technology to support aging in place. It is a completely made in Canada platform that enables leading-edge healthcare solutions to be implemented in a fully secure fashion.
The accelerator program is currently accepting applications from companies developing medical devices and applications. Ideal applicants will have a Canadian headquarters as well as the required team and capacity to execute projects during the accelerator program time-frame.