Funding available for innovative agetech solutions

Mentorship, Capital, Continuation Program helps Canada be a better place to grow older

TORONTO, Oct. 3, 2022 /CNW/ - Innovators in the agetech and fintech sectors can now access up to $400,000 from the Centre for Aging + Brain Health Innovation (CABHI) to grow and scale practical solutions for older adults and their caregivers. Eligible companies may also access additional investment of up to $400,000 from the Ontario Brain Institute, commercialization and funding support from Ontario Bioscience Innovation Organization, and business financing from Clearco.

"The Mentorship, Capital, Continuation (MC²⁾ program is for early-stage companies looking for investment capital to grow and scale a product that would improve the life of older adults," says James Mayer, Senior Manager, Investments & Venture Services at CABHI. "Our services go beyond financing to help innovators succeed, by also providing coaching, networking, and validation at more than 130 testing sites."

Recent examples of MC² innovations:

• iGuard Home Solutions Inc.'s 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 you 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 company's products assist people who have experienced an injury to the brain through stroke or trauma, resulting in impairment in hand function, enabling stroke patients to regain both control and hand function.
• InteraXon Muse develops brain-sensing headband designed to offer real-time feedback on brain activity during meditation and insightful tracking over time. The company's headband uses EEG sensors and cloud technology to provide real-time feedback on mental activity, heart rate, breathing, and body movements.

A solution accelerator for the aging and brain health sector, CABHI provides funding and support to innovators for the development, testing, and dissemination of new ideas and technologies that address unmet brain health and seniors' care needs. Established in 2015, it is the result of the largest investment in brain health and aging in Canadian history. CABHI is a unique collaboration of health care, science, industry, not-for-profit and government partners whose aim is to help improve quality of life for the world's aging population, allowing older adults to age safely in the setting of their choice while maintaining their cognitive, emotional, and physical well-being.

SOURCE Centre for Aging + Brain Health Innovation

Lisa Hartford, Centre for Aging + Brain Health Innovation, 647.466.8053 [email protected]