This press release is provided by Business Wire and is published as received.
TORONTO--(BUSINESS WIRE)-- INOVAIT, Canada’s image-guided therapy (IGT) and artificial intelligence (AI) commercialization network, today announced the latest recipients of its Pilot Fund at the Medventions Toronto Innovation Day, hosted at Sunnybrook Health Sciences Centre. This research and development (R&D) funding program supports cutting-edge medical technology projects that harness the transformative power of AI, machine learning, and big data analytics in IGT to advance medical innovation and streamline care.
INOVAIT committed $1.35M to support 10 new projects involving collaborations between small- and medium-sized enterprises, hospital research centres, and academic institutions, creating jobs and launching healthcare innovation across the country. The combined value of the selected projects is nearly $4.16M contributed by all project participants along with INOVAIT.
The Pilot Fund provides up to $150,000 in non-dilutive, reimbursement-based funding for collaborative R&D projects lasting 9 to 15 months. To date, INOVAIT has selected over 100 IGT-AI projects for funding, leading to an infusion of over $128M into the Canadian image-guided therapy sector across the last six years.
“Canada’s medtech sector does not lack for bold ideas in IGT and AI; it lacks the commercialization mechanisms to validate them. The Pilot Fund gives innovators the runway to deliver prototypes, stress test their technologies and build the evidence base that attracts investment.” - Raphael Ronen, Co-Executive Director, INOVAIT
The INOVAIT Pilot Fund is made possible through the Government of Canada’s Strategic Response Fund.
“The Government of Canada is fostering innovation that benefits Canadians and strengthens our healthcare system. By supporting new AI-powered image-guided therapy projects through INOVAIT, we are investing in leading-edge technologies that not only improve patient outcomes, but also create high-quality jobs and opportunities across the country. Congratulations to all the recipients for their vision and dedication to advancing Canada’s medtech sector.” - The Honourable Mélanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions
“Supporting INOVAIT through Canada’s Strategic Response Fund ensures that the commercialization of AI in Canada truly benefits all. It not only supports better health outcomes for Canadians but drives the growth of small and medium-sized businesses that are growing our economy. As a partnership between the Government of Canada and Sunnybrook Research Institute in Don Valley West, INOVAIT is a perfect example of how to build Canada Strong.” – Rob Oliphant, Member of Parliament for Don Valley West
Featured Pilot Fund Projects
Among the newly funded projects are:
Perimeter Medical Imaging (Toronto, ON) in collaboration with the University of Toronto is developing a scalable AI infrastructure for Perimeter’s intraoperative Optical Coherence Tomography (OCT) device. This project aims drastically reduce the 20% re-operation rate currently plaguing breast conserving surgeries.
Hyivy Health (Kitchener, ON) in collaboration with the University of Waterloo will develop and validate the first AI-enabled, image-guided intravaginal therapy system that integrates real-time ultrasound, infrared perfusion sensing, optical imaging, and multimodal biomechanical sensors to create a longitudinal pelvic health intelligence platform. This project aims to create a system that can objectively diagnose, monitor, and personalize treatment for chronic pelvic pain, tissue changes, pelvic floor dysfunction, and related gynecologic and colorectal conditions.
Vope Medical (Montréal, QC) in collaboration with the University Health Network will evaluate CLARIS, a real-time AI platform that improves visibility during minimally invasive surgery by digitally removing smoke and visual obstructions. The project aims to improve downstream surgical AI workflows.
Complete List of Pilot Fund Recipients
The complete list of selected Pilot Fund projects for this round of the INOVAIT Pilot Fund can be found on the INOVAIT website: https://inovait.ca/wp-content/uploads/2026/06/Pilot-Fund-Winter-2026-Projects.pdf
Announcement Details
The announcement was made at the Medventions Toronto Innovation Day, hosted at Sunnybrook Health Sciences Centre in Toronto, Ontario, on June 9, 2026.
About INOVAIT
INOVAIT is Canada’s image-guided therapy (IGT) and artificial intelligence (AI) network. As a pan-Canadian network, INOVAIT supports companies and academic institutions from coast to coast to commercialize cutting-edge medical technologies that positively impact the healthcare system and create high-quality jobs. The network brings together companies, research institutes, post-secondary institutions, and not-for-profit organizations to collaborate on game-changing projects to transform healthcare. INOVAIT strengthens the Canadian medtech ecosystem by fuelling continuous innovation that revolutionizes healthcare. INOVAIT was established in 2020 by Sunnybrook Research Institute in Toronto and supported by the Government of Canada’s Strategic Response Fund.
For more information, visit inovait.ca
View source version on businesswire.com: https://www.businesswire.com/news/home/20260609358184/en/
Media: Clara MacKinnon-Cabral,clara@inovait.ca
Copyright Business Wire 2026
Business Wire
