CAN Health Network
Highlights
The CAN Health Network is designed for businesses like yours, offering a unique opportunity to scale and thrive in the health technology sector. By joining, you gain access to an integrated marketplace that removes common barriers to growth. This means you can focus on innovation while the Network helps fast-track your company's expansion.
Key Benefits:
- Access to Health Care Sites: Demonstrate your technology's value and gain insights directly from potential customers.
- Scalability: Leverage existing procurement guidelines to accelerate growth.
- Receptive Marketplace: Demand is established before pairing with organizations, ensuring your solutions meet real needs.
Being part of the CAN Health Network can significantly boost your business by connecting you with health operators across Canada. This not only helps in creating better tools and cost savings but also contributes to a more efficient health care system. The program is designed to be accessible, making it easier for your business to qualify and benefit from these opportunities.
Financing Details
Type of Financing: Grant
Eligible Expenses:
- Research and development costs
- Prototyping and testing
- Market analysis and business development
- Regulatory compliance and certification
- Hiring specialized personnel
Use of Funds:
- Funds can be used to cover the above eligible expenses.
- Funds cannot be used for general operational costs, debt repayment, or real estate purchases.
Repayment Terms:
- As this is a grant, there are no repayment terms or interest rates.
Fees:
- There are no fees associated with applying for or receiving this grant.
Qualifications
- Must be a Canadian health technology company.
- Must be a mid-to-late stage venture.
- Must be able to embed within an Edge for up to a year.
Must be working on key market-ready challenges faced by the Edge and similar organizations across the Network.
Disqualifications:
- Businesses outside the health technology sector.
- Early-stage ventures not ready for market challenges.
- Companies unable to commit to embedding within an Edge for up to a year.
Description
This program helps your business grow by providing access to a supportive marketplace. It removes common barriers that often prevent businesses from scaling up. You can receive valuable insights and mentorship by demonstrating your technology at health care sites. This helps you understand your customers better and improve your products.
The program fast-tracks your growth by using existing procurement guidelines. This means your business can expand more quickly and efficiently. Demand is established before you are paired with an organization, ensuring that there is a need for your innovative solutions.
By participating, your business can become part of an integrated network that spans across regions. This network helps identify shared problems and solutions, making it easier for your products to be adopted and scaled across Canada. This leads to better tools, cost savings, and a more efficient health care system, ultimately boosting your business and creating jobs.
Program Steps
Register on the CAN Health Network Platform: Visit the CAN Health Network website and create an account for your business.
Complete the Online Application Form: Fill out the application form with details about your business, including your business name, contact information, and a brief description of your health technology solution.
Prepare Required Documentation: Gather the necessary documents to support your application. These may include:
- Business plan
- Financial statements (e.g., balance sheet, income statement)
- Proof of Canadian business registration
- Description of your technology solution
- Market analysis and potential impact
- Letters of support or testimonials from current clients
Submit the Application: Upload the completed application form and all required documentation through the CAN Health Network portal.
Initial Review: The CAN Health Network team will review your application to ensure it meets the program criteria. They may contact you for additional information or clarification.
Participate in an Interview: If your application passes the initial review, you may be invited to an interview or presentation to discuss your technology solution in more detail.
Receive Feedback and Approval: After the interview, you will receive feedback on your application. If approved, you will be notified of your acceptance into the CAN Health Network.
Engage with the Network: Once accepted, you will be paired with a health care organization within the Network to begin demonstrating and scaling your technology solution.
Ongoing Support and Evaluation: Throughout your participation, you will receive insights, mentorship, and support from the CAN Health Network to help you overcome barriers and scale your business.