The Canadian Technology Accelerators (CTA) unveiled its cohort for the first ever bi-coastal program dedicated to the development of high-potential, early-stage digital health start-ups.
Article originally posted here.
Today, the Canadian Technology Accelerators (CTA), a global initiative led by the Government of Canada’s Trade Commissioner Service, unveiled its cohort for the first ever bi-coastal program dedicated to the development of high-potential, early-stage digital health start-ups.
Led by the Consulates General of Canada in New York and San Francisco, the program enables Canadian entrepreneurs to gain in-depth market intelligence, strategic guidance and access to key stakeholders in two of the most dynamic hubs for digital health and venture capital in the United States. The 14-week virtual program targets companies actively raising their Seed to Series A funding rounds by providing tailored workshops, mentorship and networking opportunities to accelerate their entry into these markets.
“We’ve seen significant momentum in digital health investment as a result of the formidable challenges presented by the COVID-19 pandemic,” said Khawar Nasim, Acting Consul General of Canada in New York. “Now more than ever, Canadian innovation has a unique role to play in creating meaningful solutions for both the immediate and long-term. We are proud to introduce this incredibly diverse cohort representing such a broad range of experiences and expertise to our partners in New York City.”
Upon the completion of a cross-country recruitment campaign, a panel of venture capitalists and leaders in the digital health start-up ecosystem selected 11 companies to join the competitive program. Participating members includes:
“The 11 Canadian start-ups participating in the inaugural CTA Digital Health cohort reflect the strength of Canada’s digital health ecosystem,“ said Rana Sarkar, Consul General of Canada in San Francisco. “As we work to address the challenges of 2020 and beyond, these companies will contribute their talent, know-how and innovations to tackle the future of health.”
The program has also partnered with industry-leading organizations at the forefront of digital health innovation on both coasts. In San Francisco, the cohort will benefit from the expertise of HealthTech Capital, a leading group of angel investors and corporate strategists investing in digital health and other healthcare technologies and Metis Lighthouse, a healthcare consulting firm who works with early-stage companies on strategic initiatives from idea development to product commercialization. Companies will also gain access to the Rock Health Summit, a 2-day event bringing together the greatest minds in technology, medicine, policy, and beyond to generate inspired and informed conversations in healthcare.
“We are excited to work with an outstanding 1st cohort of Canadian companies” said Carl Bouthillette, Managing Director Metis Lighthouse and Anne DeGheest, founder and managing director of HealthTech capital. “The teams, their ideas, and passion for creating digital health solutions is the driving force we need to make meaningful changes to access and quality of care for all”.
In New York, companies will receive bespoke programming and mentor matching from Junto Health, a strategic advisory firm and technology consortium of major health care organizations and startups that share information to develop new technology solutions. The cohort will also attend the HITLAB International Innovators Summit, a 3-day event that brings together a series of curated talks, panels, and interactive collaboration opportunities, where each company will pitch in an Innovation Showcase in front of investors and buyers from across the digital health industry.
“Working with clients across the verticals of healthcare, we’ve seen how uncertainty presents many new challenges to executive teams. One thing is clear: health systems, payors, and pharma require innovative digital health solutions to support the shifting needs of their customers,” said Doug Hayes, CEO of Junto Health. “CTA has taken a novel approach to supporting Canada’s digital health founders, designing a bi-coastal program that forges connection with investors, customers, and advisors in two of the strongest digital health ecosystems in the world.”
About the Canadian Technology Accelerator Program (CTA)
The CTA program is a global business development program by Global Affairs Canada’s Trade Commissioner Service. Established in 2009, the CTA program supports the international scale-up of high-growth, high-potential Canadian firms in the sectors of life sciences, cleantech, and information communication technologies. The CTA program reports over 574 participants collectively garnering $646 million in capital, $238 million in revenue and the creation of 1,128 strategic partnerships and 2,529 new jobs. Apply at tradecommissioner.gc.ca/cta-atc.
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