Ontario Centre of Innovation (OCI) Celebrates Landmark Year of Achievements in Technology and Life Sciences at its Annual General Meeting

October 22, 2024

Toronto, ON, October 21 – The Ontario Centre of Innovation (OCI) proudly reflected on an extraordinary year of innovation, growth, and leadership that has cemented Ontario’s position as a global leader in the automotive, technology, and life sciences sectors. This year marked significant milestones for both the organization and the province of Ontario’s innovation ecosystem, setting the foundation for future advancements that will shape Ontario and the world.

One of the highlights OCI showcased was Ontario’s significant progress in the life sciences sector with the establishment of the Ontario Life Sciences Innovation Fund (LSIF), further solidifying the province’s role as a leader in health sciences and biotechnology. Ontario’s LSIF was celebrated with Minister Vic Fedeli and award sponsor Kris Shah, of Baylis Medical Technologies presenting Dr. Fahima Osman, Co-Founder of MyJourney Health, with $25,000 and the prestigious honour as the ecosystem’s recipient of Ontario’s Life Sciences Innovator of the Year.

“Ontario is home to a thriving innovation ecosystem spanning many key industries, including the auto, life sciences, tech and advanced manufacturing sectors. The success and continued growth of this ecosystem would not be possible without Ontario’s highly-talented workforce, which is second to none,” said Vic Fedeli, Ontario Minister of Economic Development, Job Creation and Trade. “Through the Ontario Centre of Innovation, we continue to propel our innovation ecosystem to new heights by supporting our top-tier companies and talent as they develop and commercialize innovative products and solutions. Together, we’re building a stronger province and bolstering the next generation of Ontario-made success stories.”

Minister Fedeli and Amir Hoss, CEO of EAIGLE presented this year’s $5,000 Mind2Market Award to Pulsenics, highlighting the incredible talent emerging from Ontario’s innovation ecosystem.

OCI also highlighted its annual DiscoveryX, Ontario’s premier innovation conference, which brought together thought leaders, innovators, and entrepreneurs to showcase cutting-edge developments and reaffirm Ontario’s status as a global innovation hub.

It was a year of record impact for Ontario’s economy. In partnership with the Government of Ontario, OCI continued to play a critical role in accelerating the development, commercialization, and adoption of advanced technologies, achieving the following outcomes in the fiscal year 2023-2024:

• 623 companies supported across Ontario
• Creation and retention of 5,542 jobs by OCI supported companies
• $362 million in incremental sales revenues by OCI supported companies
• $734 million in private sector follow-on investments in OCI supported companies, driving economic growth across the province.

“This year has been exceptional, laying the foundation for Ontario’s continued leadership in the automotive, technology, and life sciences sectors. Our achievements reflect the hard work of our team, our partners, and the strength of our innovation ecosystem,” said President and CEO Claudia Krywiak. “As we look to the future, we remain committed to being ‘Where Next Happens’ and continuing to push the boundaries of innovation.”

As Ontario’s innovation ecosystem continues to grow, OCI remains dedicated to its mission of fostering a prosperous and technologically advanced future for the province.

Media Contact
Alicia Pereira
apereira@oc-innovation.ca

About the Ontario Centre of Innovation
The Ontario Centre of Innovation (OCI) brings industry, academic, and government partners together to invest in collaborative R&D, technology development, and commercialization opportunities that generate the highest return on innovation for Ontarians.

As an ecosystem connector, OCI initiates unparalleled partnership opportunities, develops, and manages successful industry-academic collaborations, supports high-potential SMEs in commercializing ground-breaking research, and provides hands-on training and skills development opportunities for the next generation of highly skilled talent.

OCI drives economic growth and job creation through investments in the development, commercialization, and adoption of advanced technologies.

For more information: https://www.oc-innovation.ca