Ontario Brain Institute announces $700,000 in funding for Canadian neurotech start-ups in inaugural NERVE program

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Ontario Brain Institute

May 12, 2022, 10:00 ET

  Canada's single largest award for early-stage neurotechnology ventures will support seven entrepreneurs from across the country

TORONTO, May 12, 2022 /CNW/ - The Ontario Brain Institute (OBI) is pleased to announce the inaugural NERVE cohort, a group of seven entrepreneurs funded through Canada's single largest award for early-stage neurotechnology development.

Formerly known as the Ontario Neurotech Entrepreneurship (ONtrepreneurs) program the NERVE Program (Neurotech Entrepreneurship to Validate Emerging Innovations) provides $100,000 in funding to awarded Canadian-based entrepreneurs, in addition to 12 months of training opportunities, one-on-one mentorship, and support in order to help kick-start and grow their neurotech ventures. The launch of NERVE marks the first year in which OBI's entrepreneurship program is offered to applicants from across the country.

Through ONtrepreneurs and NERVE, OBI has provided over $3M in entrepreneurship funding, supported 72 entrepreneurs, and delivered over 20 products to market. These neurotech products support the treatment, care, and diagnoses of brain disorders like depression, autism, and dementia, and leverage OBI's network of partners and collaborators. Previously funded entrepreneurs have been able to secure nearly $124M in follow-on investments, while creating 154 full-time equivalents.  

The seven 2022 NERVE entrepreneurs, who participated in a virtual pitch competition streamed at the Centre for Aging + Brain Health Innovation's annual summit in March, are:

  •  Gavin Brauer of Pearl Interactives (Ontario), creating video games and apps that empower wellness and learning skills through play - for kids of all abilities,
  •  Geoff Frost of Raft Digital Therapeutics (Alberta), developing home-based therapeutic exercise for children with spinal muscular atrophy,
  •  Sarah Lambert of Ora Medical (Quebec), empowering patients with debilitating conditions to improve their walking ability through an AI-powered digital gait trainer, which generates clinically validated programs to enhance personal progress,
  •  Kramay Patel of Neureka® (Ontario), an epilepsy care platform combining the power of artificial intelligence with the convenience of wearables to empower patients, caregivers, and clinicians with 24/7 holistic care and personalized insights,
  •  Michael Perreault of Eyful (Quebec), developing technology that uses augmented reality and artificial intelligence to help people with aged-related macular degeneration regain their vision and as a result, their autonomy,
  •  Nardin Samuel of Cove (Ontario), a company that takes 2D brain data and transforms it into 3D maps that are representative of the brain's complex networks, and
  •  Alison Smith of Roga (Ontario), creating a wearable medical device and content platform to manage anxiety.

Participants in this year's NERVE Program join the existing 89 OBI portfolio companies helping to grow the province's neurotech cluster and supporting brain health.

The Ontario Brain Institute gratefully acknowledges the support of its NERVE 2022 partners, whose commitment to the NERVE Program demonstrates a collaborative pan-Canadian approach to supporting entrepreneurship in neurotechnology.

QUOTES:

"Ontario has established itself as a global leader in producing remarkable neurotech innovations that support people living with brain disorders. Given the success that we witnessed for a decade through our provincial program, it has been our distinct pleasure to open up to entrepreneurs across the country. We have been blown away by the talent and innovation that we saw from Canadian applicants and are keen to collaborate with these seven gifted entrepreneurs."

Dr. Tom Mikkelsen, President and Scientific Director of the Ontario Brain Institute

"With the dedicated involvement of organizations like the Centre for Aging + Brain Health Innovation (CABHI) and the Ontario Brain Institute, Ontario has built an integrated brain health ecosystem, linking research, commercialization, and care. In partnering on initiatives like the NERVE Program, CABHI remains committed to developing, disseminating, scaling, and promoting promising ventures in the Canadian aging and brain health sector. Most importantly, by doing so we are ensuring innovative solutions reach the Canadians who need them most."

Dr. Allison Sekuler, President and Chief Scientist at the Centre for Aging + Brain Health Innovation

For more information about the Ontario Brain Institute's NERVE Program, visit braininstitute.ca/nerve.

CONTACTS:

Renée Dunk, Senior Communications Lead (Ontario Brain Institute): [email protected], 416-562-2695

Allison Garber, Consultant (Ontario Brain Institute): [email protected], 902-221-5254

SOURCE Ontario Brain Institute

Organization Profile

Ontario Brain Institute

The Ontario Brain Institute is a not-for-profit organization that accelerates discovery and innovation, benefiting both patients and the economy. Our collaborative ‘team science’ approach promotes brain research, commercialization and care by connecting researchers,...