York Region leaders invest $8 million in startups creating technology to combat blindness, cooling device for hot flashes

Dollars are for collaborative program helping startups

Yorkregion.com
February 4, 2020
Simone Joseph

Self-driving wheelchairs, technology to combat blindness and Menopod, a hand-held electronic cooling device for women suffering hot flashes during menopause.

If this sounds like science fiction, it’s not.

These are among the ventures that could benefit from an $8 million investment announced Thursday for ventureLAB, a leading technology hub in York Region.

The money comes from York Region-based technology leaders.

This investment is courtesy of Canada’s first silicon incubator -- a collaborative program designed to help startups succeed. Incubators help entrepreneurs solve start-up-related problems by providing workspace, seed funding, mentoring and training.

Eight companies hope to bring their products to market, including:

• Bionic-I -- A hardware biotechnology company focused on augmenting vision and combating blindness with a surgically implantable device that can treat and monitor an "orphan" genetic disease, as well as rejuvenate cataract surgical patients by eliminating their need for reading glasses
• BluMind. AI -- Analog machine learning inferencing; engines for network Edge devices
• Cyberworks Robotics -- Ai-based technology for autonomous self-driving wheelchairs
• Ekidna Sensing -- Will provide a testing solution for licensed producers in the global cannabis industry
• Humantec Inc. | Menopod -- Manufactures the Menopod, a hand-held electronic cooling device for women suffering from hot flashes during menopause
• Micromensio -- A semiconductor company developing a unique biosensing technology to provide solutions for health care, the environment and industry
• TARTAN AI -- A hardware company with the potential to reduce the computation, storage and communication needed when executing machine learning models on silicon
• Wind Shape Technology Inc. -- Design and manufacture proximity sensors for electronic taps

VentureLAB was first announced in June 2019, with $5 million in funding from the Federal Economic Development Agency for Southern Ontario.

This project is housed in a 1,500-square-ft. lab with specialized equipment. The equipment can cost millions of dollars per product, causing a major barrier to entry and making it difficult for startups to commercialize products. This project, also known as The Hardware Catalyst Initiative, was born out of the need to access expensive tools, lab space, investment and expertise.

 “The Hardware Catalyst Initiative is our solution for emerging tech companies to become competitors in the global hardware economy, which generates $7 trillion in economic activity,” said Melissa Chee, president and CEO, ventureLAB.

“Without this opportunity, it’s extremely difficult for hardware and silicon startups to afford the barriers to entry.”

The companies that committed up to $8 million in resources, expertise and mentorship include:

• AMD -- A global leader in high-performance computing, graphics and visualization technologies.
• Synopsys -- A world leader in electronic design automation.
• Microart Services Inc. -- A leading contract electronics manufacturer with expertise in design, turnkey global procurement, assembly and test engineering services for Printed Circuit Board Assemblies and full Box Build System Assemblies.
• REMAP -- An integrated shared ecosystem for the acceleration of the commercialization of electronics products.
• Bereskin & Parr -- An internationally renowned intellectual property and technology law firm.
• MNP -- One of Canada’s largest full-service chartered accountancy and business advisory firms.

VentureLAB’s hub is a 50,000-sq.-ft facility that’s home to more than 45 tech companies and partners that employs more than 300 people.

Go to www.venturelab.ca for more information.