The Ontario Biosciences Innovation Organization® (OBIO) recently launched the Life Sciences Critical Technologies & Commercialization (LSCTC) Program to provide infrastructure, commercialization, technology adoption and talent programming to Ontario small and medium enterprises (SMEs) in the life sciences sector. 

The program promotes innovative made-in-Ontario technologies and intellectual property for the benefit of small and medium sized enterprises and emerging ventures, particularly in the areas of therapeutics, diagnostics, medical devices, and digital health. 

In addition to providing funding streams, this program also provides access to: 

• 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 
• Business development and commercialization training. 

Stream 1: Strengthening Technology Commercialization 

Projects under the Strengthening Technology Commercialization stream must:  

• Demonstrate that the technology solves a critical problem, and a market exists for the product/service; 
• Own the license agreement(s) for intellectual property associated with the technology; and 
• Demonstrate that the completed project advances the company toward a significant value creation event. 

This stream provides 2:1 cash matching for funding between $25,000 to $100,000 and is open to any Private Health Science small and medium enterprise in Ontario. 

Stream 2: Technology Adoption Projects 

Projects under the Technology Adoption stream must:  

• 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 
• Be ready to have technology evaluated by a healthcare organization. 

This stream provides 2:1 cash matching for funds up to $250,000 and is open to any private health science small and medium enterprise in Ontario. 

The applications for both streams will be reviewed on a rolling basis.

Stream 3: De-Risking of Emerging Technologies & Venture Creation

Organizations and projects that are eligible for funding under this stream must:

• Working to develop, integrate or have integrated at least one critical technology integrated into your products, services and/or operations:
  • 5G/advanced networks
  • Ethical artificial intelligence
  • Blockchain
  • Cybersecurity
  • Quantum computing, and/or
  • Robotics.
• 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;
• Committed to the creation and commercialization of made-in-Ontario IP.

This program has no set maximum amount of funding allocated to it.

Access More Capital & Tech Funding Opportunities  

Unlike business expansion funding, which focuses on large expansion projects that are completed over many phases, capital investment grants and loans support specific expenditures that are directly related to improved business performance. Federal and provincial capital and technology adoption funding programs enable companies to purchase innovative technologies sooner than would have been possible using cash flows alone. 

Businesses can access up-to-date program information by industry or region through our government funding directory. To learn how to navigate the funding landscape for your business, download our free slide deck which provides insight on fund research support, technical writing tips, and ways to review.