INOVAIT's new report explores how Canada is unlocking the potential of image-guided therapy innovation
INOVAIT, a pan-Canadian innovation network, has unveiled its latest report, ‘Unlocking Medtech's Potential: Canada's Strategic Advantages in Image-Guided Therapy & AI.’
This report, based on interviews with founders and executives from 30 IGT companies in the INOVAIT Network, highlights the untapped potential within Canada's image-guided therapy (IGT) sector.
Image-guided therapy refers to technologies that integrate medical imaging to improve all stages of patient care, from diagnosis to treatment planning, execution, and post-treatment evaluation.
Supported by Sunnybrook Research Institute, this approach has been gaining attention in healthcare due to its ability to improve patient outcomes, enhance the provider experience, and reduce costs.
The report identifies several strategic benefits of founding and operating IGT companies in Canada. It highlights the country's strong academic and research foundation, which fosters innovation in IGT.
Additionally, the report points to a highly skilled workforce in medicine, engineering, and technology, which includes some of the world's leading AI specialists.
Canada's geographic location and policy landscape offer opportunities for global collaboration and market expansion. The availability of non-dilutive funding sources, including government grants, enables companies to access capital without giving up equity.
The environment in Canada also supports the development of cost-efficient businesses and technologies.
The collaborative spirit in Canada is another important factor.
The report notes a strong network that encourages resource-sharing and knowledge exchange, reinforcing the idea that Canada holds unique advantages to build a global stronghold in IGT innovation.
