Summer 2024 showcases strong startups: July recap
August 2, 2024
Healthcare startups captured the opportunity to showcase their tech solutions to Ontario Premier Doug Ford and other provincial leaders. The showcase followed the announcement that the University of Waterloo has been selected as the site of Grand River Hospital and St. Mary’s General Hospital’s new joint hospital.
The early-stage venture ideas presented at the Spring 2024 Velocity Pitch Competition show promise and potential to impact multiple sectors aiming to save professionals time and money and safeguard the health of end users.
A medical milestone for Ontario: The Ottawa Hospital adopts Vena Medical’s Balloon Distal Access Catheter, the first device the company ever brought to market and developed here in the province.
Ceragen’s US$2 million seed funding will help the startup grow its portfolio of products that aid in greenhouse fruit and vegetable production and expand into new markets.
Roga announced $1.7 million pre-seed funding and co-founder and Chief Science Office Alison Smith shared her expertise on how to break the cycle of burnout.
Evercloak Inc. secured additional funding to accelerate the development of its membrane-based system for low carbon HVAC technology. The $1.1 million comes from Natural Resources Canada (NRCan)’s Energy Innovation Program (EIP).
Startups are helping Canada prepare for population growth and aging. Canada’s population could double in the next 50 years, and the population of people aged 85 and older could triple, according to the Statistics Canada data released earlier this summer. Numerous health tech companies at Velocity were already fixing issues related to overwhelmed hospitals and long-term care before the recent population projections were published.
Palitronica’s CEO and University of Waterloo professor Sebastian Fischmeister was featured in Canada’s National Observer’s article on increasing cyber security risks facing the country.
