Funding from the Ontario government will accelerate commercialization of Ontario developed solutions to help older adults and people living with dementia, reduce the cost of care, and plan for economic recovery.
Toronto, ON – March 1, 2021 – Today, the Government of Ontario announced $23.5 million in funding over the next five years for the Centre for Aging + Brain Health Innovation (CABHI), powered by Baycrest. This funding will enable CABHI to continue its work as a world-leading solution accelerator driving innovation in the aging and brain health sector. CABHI, with its broad provincial and global network of partners, will be able to forge more pathways for Ontario researchers, students, clinicians, frontline care workers, and companies to move their intellectual property (IP) into the hands of people who need it most – older adults, including those living with dementia and their care partners. Working together, CABHI and the Ontario government can help solve urgent problems allowing more Ontarians to live at home longer as they age, while reducing healthcare costs, and growing Ontario’s economy.
“Ontario’s research organizations are at the forefront of discoveries that advance knowledge, drive progress and create a better future for the people of Ontario,” said Ross Romano, Minister of Colleges and Universities. “By providing funding to CABHI, we are supporting innovative research and programs that can support vulnerable seniors dealing with brain health related issues, dementia and Alzheimer’s disease.”
“At Baycrest, we aspire to a world where every older adult enjoys a life of purpose, inspiration and fulfillment. Now more than ever, the combined efforts of government, healthcare providers and innovators is needed to reimagine senior care both in congregate settings and at home and in the community. By working together, we will realize improved quality of life and other essential benefits such as managed care delivery costs and growth opportunities for Ontario-based researchers and entrepreneurs,” said Dr. William Reichman, President and CEO of Baycrest.
Dr. Allison Sekuler, Managing Director, CABHI, and Sandra A. Rotman Chair in Cognitive Neuroscience and Vice-President of Research, Baycrest, echoed Minister Romano’s views of the partnership. “CABHI is proud to continue its close collaboration with the Government of Ontario, and to strengthen our ties to provincial research organizations, to ensure a vibrant culture of innovation in seniors’ care. CABHI’s vision – to help older people live their best possible lives – has only grown more important during the pandemic. The Ontario government’s investment helps us move from ideas to impact, and expands our ability to meet older adults’ immediate needs for improved care and enhanced quality of life with made-in-Ontario solutions. This support also helps ensure Ontario companies in the aging and brain health sector grow and prosper, which is critical for rebuilding a post-pandemic economy. ”
The funding is already making an impact. Launched in October 2020, CABHI’s Mentorship, Capital and Continuation (MC2) Market Readiness program, presented in partnership with National Bank, supports Ontario-based companies that might otherwise face challenges in accessing investment funding, and business development resources to ensure their continued success and ability to support older adults in long-term care and the community.
CABHI’s MC2 companies are at the forefront of wide-ranging healthtech and agetech enterprises, supporting seniors, reducing care cost, and contributing to Ontario’s economic growth:
- Axem Neurotechnology’s system guides physical rehabilitation to promote the brain’s ability to repair itself, with a portable and functional spectroscopy device paired with tablet-based software.
- Braze Mobility has created the first blind spot sensor system that turns any wheelchair into a smart wheelchair, automatically detecting obstacles and providing multi-modal alerts.
- Cosm’s digital urogynecology platform modernizes and personalizes care for millions of older women with pelvic floor disorders.
- Rehabtronic’s solution, Prelivia, uses patented technology and intermittent electrical stimulation to address pressure-induced symptoms, which affect the elderly and extend hospitalization.
- RetiSpec enables early detection of Alzheimer’s disease with accessible and scalable screening through a quick non-invasive eye exam.
- Trualta is a web-based education platform to help families build skills to manage care at home for a loved one experiencing cognitive decline, Alzheimer’s disease, or other related dementias.
Renewed provincial funding is also expanding the community of innovation among Ontario’s frontline workers. In November, CABHI launched Spark-ON, a call for innovative solutions created by Ontario-based frontline workers and organizations to address the ongoing pandemic and its impact on older adults, those living with dementia and their communities. Projects will be funded to address pressing needs such as social isolation and Spark-ON will help those solutions develop, spread, and scale to ensure the greatest possible impact.
CABHI, with the Ontario government’s investment, will amplify the culture of innovation and help grow the active workforce that benefits older adults and drives Ontario’s future economic growth.
CABHI gratefully acknowledges the support of its funders, the Government of Ontario through the Ministry of Colleges and Universities, the Government of Canada through the Public Health Agency of Canada, and the Baycrest Foundation.
About the Centre for Aging + Brain Health Innovation (CABHI)
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.
Connect with CABHI:
Senior Marketing Specialist, CABHI
Michelle Petch Gotuzzo
Manager, Media & Digital
416-785-2500 ext. 6932