Public Sector Government of Canada invests $20M to scale up health tech innovation Buckley Smith @BuckleySmith7 Published: August 1st, 2019Canadian health tech startups looking to scale up their companies may be getting a big helping hand, as the Government of Canada recently announced it’s investing $20 million in this space.This will begin with a $7 million investment aimed at the establishment of the CAN Health Network, an integrated market allowing startups and SMEs working in the fields of health and biosciences to work directly with health care organizations.Announced by the minister of small business and export promotion, Mary Ng, she said that this will allow these companies to develop technology that meets the needs of those health care organizations, while simultaneously allowing them to commercialize that innovation and scale-up their companies.“Our government is making these investments to scale up companies and create good jobs for Canadians. The integrated market is an innovative approach supporting technology development and business growth,” said Ng. “Through easy access to a large, consolidated domestic marketplace, companies will scale up and be anchored in Canada, commercializing technologies that can be exported around the world.”According to the press release, the international market for medical technologies is estimated at $500 billion annually, and the Government of Canada is trying to ensure Canada’s place among the top nations in that market.This plan will begin with the initial $7 million in funding which will allow the Saskatchewan Health Authority to establish the CAN Health Network in Western Canada and Trillium Health Partners to establish it in Southern Ontario. Each will receive $3.5 million to establish their network with the companies listed below.Saskatchewan Health Authority:Alberta Health ServicesChildren’s Hospital Research Institute of ManitobaO’Brien Institute for Public Health, University of CalgaryVancouver Coastal HealthTrillium Health Partners:Bruyère HospitalGrand River HospitalThe Hospital for Sick Children (SickKids)Prism Eye InstituteSE HealthSinai Health SystemSunnybrook Health Sciences CentreUniversity Health NetworkUnity Health TorontoThe additional $13 million of the announced investment will be doled out based on need after some time has passed to assess the results of the network.Would you recommend this article?00 Thanks for taking the time to let us know what you think of this article! We'd love to hear your opinion about this or any other story you read in our publication. Click this link to send me a note →Jim Love, Chief Content Officer, IT World Canada Public Sector Government of Canada