Businesses in the life sciences and health sector in Ontario will soon be able to benefit from the launch of the new JLABS incubator, the Government of Ontario announced last week. JLABS @ Toronto is Johnson & Johnson Innovation’s first incubator outside of the United States.
- The incubator is a partnership between the company, the University of Toronto, MaRS Innovation, MaRS Discovery District and the Province of Ontario.
- The project has secured an investment of $19.4M from the Strategic Partnerships Stream of the new Jobs and Prosperity Fund.
- The facility’s leading-edge labs and equipment will be used by up to 50 promising young life sciences and health sector businesses.
- Companies will also have access to scientific, industry, and capital experts.
- The Strategic Partnerships Stream of the Jobs and Prosperity Fund encourages collaborative projects with private sector companies that focus on technologies that have the potential to transform high-growth industries.
- The Jobs and Prosperity Fund also offers two streams that are open to applications from businesses: the New Economy Stream and the Food and Beverage Growth Fund. More information on these funds is available here.