LifeEngine Technologies and Ubiqui Dx selected for investment program
Thanks to generous donors, two health-tech startups have been chosen for possible impact investment after successfully pitching their innovations at the Montreal General Hospital Foundation (MGHF)’s Demo Day event. Held in partnership with the Clinical Innovation Platform (CLIP) of the Research Institute of the McGill University Health Centre, this showcase marks the final stage of this year’s competition for the MGHF’s Impact Investment Program.
This unique program offers convertible loans for healthcare startups wanting to scale their innovations to the benefit of patients in Quebec and Canada, and who develop their ideas through the CLIP, which is an incubator housed at the MGH-MUHC.
From 28 applications received this round, five finalists were selected to present their ideas to a packed house of entrepreneurs, researchers, medical leaders, and philanthropists. At the event, the Funding Oversight Committee chose two winners who may be eligible for impact investment, pending due diligence by the Foundation.
Congratulations to:
- LifeEngine Technologies Inc.: LifeEngine builds smart robotic perfusion systems that recreate physiologic blood flow, for use with cadavers and anatomical models. By delivering realistic, controllable hemodynamics, its technology enables medical device innovators to validate new technologies, train physicians, and accelerate the adoption of novel surgical techniques.
- Ubiqui Dx: Ubiqui Dx is developing a cartridge-based, point-of-care blood test that surgeons can use right in the operating room to measure parathyroid hormone (PTH) levels during parathyroid surgery, with results delivered in less than five minutes, allowing them to immediately confirm the success of the surgery.
MGHF Impact Investment Program Highlights
Since the program began, six calls for applications have resulted in 13 startups receiving impact investment through our Foundation, for a total of $1.2 million so far.
“As one of the largest healthcare foundations in Quebec, with a track record of 50+ years supporting innovation and excellence, we are confident that this is a sustainable way to support early-stage startups in scaling their impact to benefit as many patients as possible,” says Brian Thompson, President & CEO, MGHF. “We are forever grateful to our donors, including National Bank, who have made this impact investment program possible through their generous support.”
“Our program’s funding is supporting startups through key milestones; acquiring patents, building prototypes, preparing for clinical trials, and ultimately advancing to early-stage commercialization to help bring their innovations to life,” says Jonathan Elkas, Senior Director, Strategic Initiatives & Partnerships, MGHF. “As the Impact Investment Program grows, we aim to strengthen partnerships and anchor our role within Montreal’s startup ecosystem, extending support beyond capital to mentorship and networks that position ventures for success and follow-on funding.”
Innovative Philanthropy to Benefit Patients
While innovation is essential to healthcare and research, it’s also key to meaningful philanthropy, particularly since next-generation solutions are often developed through new pathways, such as launching a health-tech startup.
Through unique funding models such as our Impact Investment Program, the MGHF is proud to support these promising projects aligned with our mission: to inspire the philanthropic community to invest in transformative initiatives, conceived and guided by our medical leaders, that have a significant impact on patient lives.
Fostering impactful partnerships is essential to this process. “The MGHF is excited to play an integral role in this dynamic and collaborative ecosystem, committed to supporting innovators at all stages of their careers, from emerging researchers and health-tech entrepreneurs to renowned medical leaders,” says Brian Thompson, President & CEO, MGHF. “Fuelling their achievements not only helps these brilliant minds succeed; it helps build a solid hub for technology, medical research, and academic excellence and attracts top talent from around the world. Most importantly, their incredible work and dedication will benefit those who need it most: the patients.”
The MGHF’s Impact Investment Program is possible thanks to the generous support of National Bank, Mr. David H. Laidley, the John Dobson Foundation, Birks Family Foundation, among other donors.
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