Innovators in the Agetech sector can now access up to US$400,000 from Centre for Ageing + Brain Health Innovation.
The new fund will help grow and scale practical solutions for older adults and their caregivers. Eligible companies may also access additional investment of up to US$400,000 from the Ontario Brain Institute, commercialisation and funding support from Ontario Bioscience Innovation Organisations, and business financing from Clearco.
James Mayer, senior manager at the Centre for Ageing + Brain Health Innovation, said: “The Mentorship, Capital, Continuation (MC2) programme is for early-stage companies looking for investment capital to grow and scale a product that would improve the life of older adults.
“Our services provide coaching, networking and validation at more than 130 testing sites.”
Recent examples of MC2 innovations are the iGuardStove and iRegained. iGuardStove is an easy-to-use motion sensor and adjustable countdown timer that automatically shuts off the stove after five minutes of no motion. If it sees a person moving within those five minutes, it will continuously reset the countdown timer back to the full five minutes.
iRegained develops medical devices intended to address the physical rehabilitation needs of individuals. The device assists people who have experienced an inure to the brain through stroke or trauma, resulting in impairments in hand function, enabling stroke patients to regain both control and hand function.
