Waterloo has become a hub for health innovation, with a thriving ecosystem marked by collaborations between startups, universities and established industry leaders.
The region offers a rich talent pool, state-of-the-art research facilities and other initiatives that support the growth of medtech companies. This network makes Waterloo an attractive business expansion location filled with opportunity for growth.
But you don’t need to take our word for it. Novocol Pharma, Sonova, PRIMED Medical Products and other growing medtech companies have leveraged Waterloo’s unique ecosystem to find success.
The strength of Waterloo’s health innovation ecosystem speaks for itself:
- 100+ life science and tech companies specializing in fields such as biotechnology and digital health.
- #1 small tech talent market in North America – With 29,000+ tech workers, Waterloo Region is a top growth market for young professionals.
- Home to one of the world’s top computer science schools – The University of Waterloo’s Cheriton School of Computer Science has placed first in Canada for four years straight in Maclean’s University Rankings.
- Scaling support for health innovation businesses – Waterloo Region has several startup incubators and innovation hubs, including Communitech, the Accelerator Centre and Velocity, which broke ground on a new Innovation Arena last year.
Top health innovation headlines from 2023
McMaster University launches innovation lab at Communitech, October 3, 2023
This fall, McMaster University and Communitech launched their new MACcelerate innovation program, located in Kitchener’s Communitech Hub.
The program connects McMaster medical students from the Michael G. DeGroote School of Medicine’s Waterloo Regional Campus (WRC) to technology and entrepreneurship resources from Communitech and the University of Waterloo.
MACcelerate programming aims to merge medical knowledge and tech innovation to address today’s healthcare challenges.
The University of Waterloo announces Waterloo Eye Institute (WEI), September 19, 2023
Construction of the University of Waterloo’s latest facility, the Waterloo Eye Institute (WEI), is set to begin in 2024.
Funded by a $35M campaign and an $8.5M gift from FYidoctors and IRIS, the facility will leverage collective expertise to specialize in vision research and care for underserved communities at high risk of vision loss. Contributions from FYidoctors and IRIS are crucial to advancing vision care research, innovation and patient-centered care in Canada.
With 67,000 square feet of space, WEI aims to be a hub for optometry in Canada, offering advanced education, international collaborations and innovative treatments for prevalent conditions using cutting-edge technology.
Tech founders present solutions to healthcare challenges, September 26, 2023
Hosted by Communitech, Fast Track Health is a virtual event that brings Canadian healthcare professionals together with tech leaders to solve health-care challenges.
Out of 40 applications, 10 companies were chosen to present their solutions to healthcare leaders and investors after receiving coaching from Communitech’s growth coaches, if desired.
Founders presented several innovation solutions, including a pelvic therapy rehab system, AI-enhanced medical imaging software and neurological disease assessment tools, among others.
Ground broken for new Innovation Arena in Kitchener, April 13, 2023
The University of Waterloo and Velocity are expanding in downtown Kitchener with the new Innovation Arena. The site is part of Waterloo’s expanding health innovation pipeline, made possible by government funding and philanthropic gifts.
The Innovation Arena will feature spaces for partnerships between businesses, researchers and community partners, including the relocation site of Velocity.
The project aims to create 730 jobs, support 135 businesses and commercialize 150 new health-related products or services by offering additional resources and support to companies in early entrepreneurial stages.
Velocity launches Velocity Health, March 3, 2023
The number of Velocity health tech companies has steadily risen over the last six years, constituting over a third of its portfolio. This prompted the launch of Velocity Health, a stream of health technology commercialization platforms designed to encourage innovation in medical device development, diagnostic tools and digital health. The program supports health tech business throughout their entrepreneurship journeys.
MIX Accelerator Zone continues to help local companies scale, March 1, 2023
The MIX Accelerator Zone (MIX AZ) opened in fall 2022 in Kitchener and continues to strengthen the network of medtech companies in Waterloo Region.
As the region’s first manufacturing and assembly space for scaling medtech companies, the MIX AZ boasts 10,000 square feet of manufacturing space. Companies can rent space within the building for manufacturing, assembly and distribution purposes.
The space allows businesses to grow in place and expand within the MIX AZ. It also offers unique collaboration spaces, along with providing access to expensive equipment that may not otherwise be available to scaling medtech companies.
“Having all these puzzle pieces, in particular in Waterloo Region, and having MIX to be able to support and have a landing spot for healthcare startups will be a reason for healthcare companies to continue to succeed moving forward and grow locally,” said Amr Abdelgawad, co-founder and COO of Fluid.AI, the first company to move into the MIX AZ.
Meet with a member of our team to discuss what resources are available in Waterloo.