Centre for Aging + Brain Health Innovation announces up to $3 million in funding available to support industry innovations in the field of aging and brain health
TORONTO, Aug. 25, 2017 (GLOBE NEWSWIRE) -- The Centre for Aging + Brain Health Innovation (CABHI) announced today the second round of funding available through its Industry Innovation Partnership Program (I2P2). This program is designed to enable successful applicant companies worldwide to accelerate the evaluation and adoption of their innovative products and services that can help to address the needs of aging adults. In total, up to $3 million CAD in funding will be available for solution testing and validation.
CABHI maintains a strong commitment to the cognitive and mental well-being of older adults, and the health and social care needs of persons with dementia, and those who care for them, by supporting innovations that are aimed at finding solutions to the following care priorities:
- Aging in place : solutions that enable older adults with dementia to maximize their choice, independence and quality of life to enable aging in the most appropriate setting
- Caregiver support : solutions that support caregivers (formal and informal) in providing care to older adults with dementia
- Care coordination and navigation : solutions that help older adults, caregivers and healthcare providers coordinate care and transitions for older adults with dementia
- Cognitive health : solutions focus on health promotion, prevention, early diagnostics, and slow progression of cognitive impairment for aging adults
"Ontario is taking a leadership role in Canada in advancing innovation in the aging and brain health sectors, and improving the lives of older adults and their caregivers. CABHI's focus on innovation aligns with the province's efforts to ensure Ontario's highly skilled workforce can compete globally through innovation," says Reza Moridi, Minister of Research, Innovation & Science.
"This program provides an opportunity for the seniors' care sector to take an active role in working with companies to shape and form innovative solutions that will impact the quality of life of the populations they serve," says Dr. William Reichman, President and Chief Executive Officer of Baycrest Health Sciences. "Baycrest is proud to lead the effort to bring a culture of innovation to our sector, thereby ensuring the most innovative aging and brain health solutions touch those who need it the most."
Applicants must have a mature product or service that they would like to test with older adults at an eligible North American trial partner site. CABHI will provide 50 per cent of the project costs to a maximum of $500,000 CAD to the trial partner site to work with the company, to test and validate the company's product or service. Successful applicants will be required to co-invest 50 per cent of the project costs through cash and in-kind support.
All projects must be completed within a 12 to 18-month period. Eligible applicants must submit an expression of interest by 5 p.m. on October 16, 2017. Full details and selection criteria are available on the CABHI website.
Funding for this program is provided by the Government of Canada through the Public Health Agency of Canada, the Government of Ontario through the Ministry of Research, Innovation and Science, and the Baycrest Foundation.
The Centre for Aging + Brain Health Innovation (CABHI) is a solution accelerator for the aging and brain health sector, providing funding and support to innovators for the development, testing, and dissemination of new ideas and technologies that address unmet brain health and seniors' care needs. Established in 2015, it is the result of the largest investment in brain health and aging in Canadian history. CABHI is a unique collaboration of health care, science, industry, not-for-profit and government partners whose aim is to help improve quality of life for the world's aging population, allowing older adults to age safely in the setting of their choice while maintaining their cognitive, emotional, and physical well-being. For more information on CABHI, please visit: www.cabhi.com.
Baycrest Health Sciences is a global leader in geriatric residential living, healthcare, research, innovation and education, with a special focus on brain health and aging. Fully affiliated with the University of Toronto, Baycrest provides excellent care for older adults combined with an extensive clinical training program for the next generation of healthcare professionals and one of the world's top research institutes in cognitive neuroscience, the Rotman Research Institute. Baycrest is home to the federally and provincially-funded Centre for Aging + Brain Health Innovation, a solution accelerator focused on driving innovation in the aging and brain health sector, and is the developer of Cogniciti -- a free, online brain health assessment for Canadians 40+ who are concerned about their memory. Through its dedicated centres, Baycrest Health Sciences offers unmatched global knowledge exchange and commercialization capacity. Founded in 1918 as the Jewish Home for Aged, Baycrest continues to embrace the long-standing tradition of all great Jewish healthcare institutions to improve the well-being of people in their local communities and around the globe. For more information please visit: www.baycrest.org.
Senior Communications Specialist
416-785-2500 ext. 6086
Senior Communications Specialist
Baycrest Health Sciences
416-785-2500, ext. 6579
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Baycrest Centre for Geriatric Care via Globenewswire
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