INOVAIT and Canada govt invest $10.7 M in AI-enhanced image-guided therapy technologies

INOVAIT and the Government of Canada have announced a $10.7 million investment in contributions to seven commercialisation-focused R&D projects under the second iteration of INOVAIT's Focus Fund programme.

Founded by the Sunnybrook Research Institute (SRI) and supported by the Government of Canada's Strategic Innovation Fund (SIF), INOVAIT is Canada's network focused on advancing image-guided therapy (IGT) through the integration of artificial intelligence (AI), big data, and machine learning. IGT is the practice of using medical imaging to plan, perform, and evaluate medical interventions.

The INOVAIT network supports Canadian innovators who are unleashing the power of AI through IGT's precision therapy and treatment to streamline healthcare and improve healthcare outcomes.

Through this iteration of the Focus Fund programme, the seven selected high potential projects will integrate machine learning capabilities into IGT technologies. Selected Focus Fund projects were evaluated based on their potential impact to innovation, healthcare, and economic development.

Focus Fund project members will invest an additional $21.3 million into these projects for a total influx of $32 million into the Canadian IGT sector. The Focus Fund contributions will help attract investments into these Canadian technology companies, create jobs for highly skilled professionals, and cement Canada's status as a global leader in IGT and AI innovation.