Validation of medical technologies in the context of care - A new consortium to facilitate the marketing and export of Quebec expertise

LAVAL, QC, May 30, 2022 /CNW Telbec/ - The Quebec Biotechnology Innovation Center (CQIB) is proud to announce the creation of a new consortium whose mission is to accelerate the validation of technology in real-life conditions of care, while young Quebec companies face significant challenges in validating the technologies developed within the Quebec health network. In the long term, the consortium's support will facilitate the commercialization and export of Quebec's expertise in health technology and generate investments of nearly $100 million.

As part of Quebec's new life sciences strategy, the consortium of seven incubators and accelerators will be led by the Quebec Biotechnology Innovation Center and will be supported by $2 million in financial assistance from the Quebec Ministry of Economy and Innovation.

Support for market entry

This program aims to address the difficulty for young companies in life sciences to access clinicians, doctors, and health professionals to complete the last stage of the technical-commercial validation of an innovation in the real context of care. More concretely, this consortium will allow Quebec start-ups to be competitive with the biggest players in the industry and thus penetrate the international market.

In addition to the CQIB, the other members of the Consortium are Admare BioInnovations, Centech, District 3, CTS, ACET and QuantINO.

Citations

"Our government wants to boost business and increase private investment in life sciences so that industry can operate to its full potential. This financial support will enable the members of the Consortium of accelerators and incubators to improve support for young businesses in the sector, increase the commercialization of Quebec innovations and attract investment in research and development."

– Mr. Pierre Fitzgibbon, Minister of Economy and Innovation

"This new three-year program will allow us to continue our mission to encourage the growth of young Quebec companies working in the life sciences. Marketing in the health care system requires a lot of effort and a thorough knowledge of the industry. Thus, the consortium's role will be to facilitate this process." 

– Perry Niro, Executive Director of the Quebec Biotechnology Innovation Center (CQIB) and responsible for managing the fund on behalf of the members of the Consortium.

About the CQIB and Consortium members

The CQIB is an incubator whose mission is to facilitate the creation, growth and success of the next generation of life sciences and health technology companies. It offers its space to start-up companies requiring access to laboratories and scientific equipment as well as expertise in business project development.

Since their creation, the entire Consortium of Life Sciences Accelerators and Incubators has generated nearly $1 billion in investment.

SOURCE Centre québécois d’innovation en biotechnologie (CQIB)

Jessica Rousseau, TACT, Cell : 438 396-8288, [email protected]; Perry Niro, Executive Director, Quebec Biotechnology Innovation Center, [email protected], Cell. : [phone]