Karen Dubeau Director of Partner
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1 Karen Dubeau Director of Partner
2 PLACE
3 PLACE: York Region & GTA fd 45,500 businesses in York Region: Ontario s 2nd Largest Business Hub Local ops of 17 Fortune 100 corporations HQ of 20 firms with >$0.5B in revenue, each 70 employers with >500 employees each Avg. company size 15 employees 3 of Toronto area s top 5 corporate R&D investors HEALTH: 3 Regional community hospitals HQ national home care provider Two large urban developments Fast growing population, aging CONVERGENCE OF HEALTH AND IT
4 ENVIRONMENT
5 EXAMPLE: 3D Printed Braces Orthodontist/Invisalign Cost:$8,000 Total Cost of 3D Set: $60
6 EXAMPLE: Revolutionizing Health
7 The Challenge of Innovation Adoption in Ontario
8 The Formula CREATE + RECEPTIVE MARKETS
9 venturelab Health Cluster Focus Continuum of Care Better Care Closer to Home Agile & Connected Ecosystem Hospitals + Community Health Centres + Private Care + Long Term Care + Organizations + Agencies + Municipalities + Smart City Leaders + Clients/Ventures + Thought Leaders, Established Companies + Post-Secondary + Campus Accelerators + Health Hubs = Integrated care, consumer-enabled, data-driven solutions Complements and leverages other Health Ecosystems Regional Community Hospitals Fast assessment, streaming of ventures; accelerating commercialization for high potential ventures Beyond StartUps: 1+1=3 leverage existing market channels BIG IDEA: Harness Ecosystem to help companies get FURTHER, FASTER
10 venturelab Health Cluster Actively Identify Barriers Remove them together Strategic programs Mobilizing resources Contracting/MOU templates, Referral Checklists Pilot + procurement ROI metrics frameworks Navigating Procurement System Workshop + Market Access Collision Days and Joint Workshops Adjacent Markets (Animal Health; Food and Health) Thought Leadership Convening Ecosystem Creating Opportunities for Collisions
11 Integrated Programs to Grow the Health Cluster BUILD Program Support for launching a new business, from assessing if a concept is feasible to scaling a company in global markets. A funding discipline for Ontario's start-up ecosystem, facilitating an effective connection between companies and investors. A specialized venturelab program that connects hospitals with entrepreneurs, health services providers and academic institutions
12 Health Cluster Growth Cluster Growth Fast growing health client base : 280 (125% increase year over year) Large # high potential health clients : 70 Client Poten al 70 High 145 Moderate Low/Unknown/Blank 56
13 Cluster Growth & Requirements Cluster Growth Majority of Clients in Toronto Client Loca ons Toronto 20 Barrie and Simcoe County 82 York Region 77 Durham Peel Region 15 Surronding Area Blanks Other
14 venturelab Health Cluster: OUTCOMES Health Clients 25% of client base Digital Health Virtual Care, Platforms, Consumer, Efficiency IoT / Wearables Back Office & Data Systems Devices Health Technology Exchange (HTX) Grants 3 of 5 provincial grants to venturelab cluster Canadian Institute of Health Research (CIHR) 2 of 8 national grant awards on youth mental health ($1M+ each) Provincial Embedded Executive Grants - Health Sector 2 of 3 provincial grants for venturelab clients Branham Group Canada s Top 25 Up and Coming ICT Firms 4 venturelab Clients listed 2016 Funding and Investment Secured for Health Innovation Clients $15 M
15 Impact of Health Cluster for venturelab Cluster Growth Delivering key outcomes for venturelab Cluster insights (procurement, culture, continuum) New Strategic Programs I3 Adoption of Advanced Technologies - $400k over 2 years IBM Innovation Space Markham Convergence Centrre Lead funnel for strategic client programs Health Technologies Fund (HTF) OCE Customer Demonstration Fund
16 Essential Ingredients: Build a Community
17 Key Insights for Economic Development 1. Be agile and nimble 1. Role of Government in Building Industry Clusters - McKinsey, July Fit strategy to local asset base 3. Actively partner with organizations supporting innovation and entrepreneurship 4. Create Co-location opportunities & animate them 5. Harness Data across Stakeholders Orgs 6. Build supports for Scaling Companies Transcend Geography 7. HELP TELL THE STORY 8. Iterate, repeatedly.
18 Thank venturelab-york-region
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