The Life Sciences Innovation Fund (LSIF) provides early-stage co-investment for companies in Life Sciences and Healthcare Technologies related to human health. Eligible companies must be Ontario or Canadian incorporated for-profit companies headquartered in Ontario and currently raising pre-seed or seed investments.

Ontario or Canadian incorporated for-profit companies headquartered in Ontario
Currently raising a pre-seed or seed investments (total round sizes ranging from $1 million to $5 million)
Have raised less than $3 million in third-party capital

Who is eligible

The Life Sciences Innovation Fund (LSIF) is open to Ontario or Canadian incorporated for-profit companies headquartered in Ontario that are currently raising pre-seed or seed investments, with total round sizes ranging from $1 million to $5 million, and have raised less than $3 million in third-party capital.

Ontario or Canadian incorporated for-profit companies
Headquartered in Ontario
Currently raising pre-seed or seed investments
Total round sizes ranging from $1 million to $5 million
Have raised less than $3 million in third-party capital

Eligible expenses

There are eligible expenses for this grant, including operating costs related to product development, research expenses, and commercialization activities.

Operating costs for product development
Research expenses
Commercialization activities

Eligible projects & activities

There are several projects and activities eligible for the Life Sciences Innovation Fund grant:

Developing innovative healthcare technologies related to human health
Advancing cancer treatment solutions
Exploring regenerative medicine applications
Pioneering neuroscience advancements
Creating cutting-edge medical technologies

Evaluation & selection criteria

There are evaluation and selection criteria for the Life Sciences Innovation Fund (LSIF).

Companies must be Ontario or Canadian incorporated for-profit entities headquartered in Ontario.
Currently raising pre-seed or seed investments with total round sizes ranging from $1 million to $5 million.
Have raised less than $3 million in third-party capital.

How to apply

Step 1: Express Your Interest
Fill out the interest form on the LSIF webpage.
Submission implies intent to explore funding opportunities for your business.
Step 2: Review Fund Guidelines
Download and review the fund guidelines document from the LSIF webpage.
Understand the eligibility criteria, investment parameters, and application process.
Step 3: Contact an Investment Lead
Email Mandhir Kalia (mkalia(at)oc-innovation(dot)ca) or Sharon Sukhdeo (ssukhdeo(at)oc-innovation(dot)ca) for more information.
Discuss your business and funding needs with an investment lead for guidance.

Documents and links

Life Sciences Innovation Fund

Apply to this program

Life Sciences Innovation Fund Summary

The Life Sciences Innovation Fund (LSIF) is an early-stage co-investment fund that supports companies in Life Sciences and Healthcare Technologies sectors related to human health by providing up to $500,000 in risk capital to scale their health solutions.

Life Sciences Innovation Fund Detailed Explanation

The Life Sciences Innovation Fund (LSIF) is a strategic program aimed at assisting entrepreneurs in the life sciences and healthcare sectors related to human health to overcome the challenges of moving from conceptualization to commercialization. LSIF offers financial support of up to $500,000 to eligible Ontario-based for-profit companies that are at the pre-seed or seed stage and have raised less than $3 million in third-party capital. By co-investing with angel investors, LSIF helps de-risk investments, making start-ups more attractive to follow-on investors and ultimately contributing to the growth and development of the Canadian life sciences industry.

Through the LSIF, Ontario Centre of Innovation (OCI) is dedicated to catalyzing the growth and competitiveness of the life sciences and healthcare technologies sectors, focusing on critical areas such as cancer treatment, regenerative medicine, neuroscience, and medical technologies. The fund targets companies with a strong innovation pipeline and a potential to impact human health on a global scale, propelling Ontario-generated intellectual property, talent, and expertise into emerging areas of life sciences and healthcare. By supporting Ontario-based companies in becoming investor and customer ready, LSIF aims to drive Canadian business development, foster economic growth, and create scalable impact across the life sciences ecosystem.

To qualify for LSIF funding, companies must be incorporated in Ontario or Canada and headquartered in the province, demonstrating a commitment to advancing health innovation within the region. The fund is tailored for companies actively seeking pre-seed or seed investments in the range of $1 million to $5 million, aligning with OCI's mission to support early-stage ventures and facilitate their transition from concept to commercial success. By providing financial resources, strategic guidance, and access to a network of industry experts, LSIF equips start-ups with the tools and resources necessary to navigate the complex landscape of the life sciences sector, positioning them for long-term success and sustainability.

Additionally, LSIF promotes collaboration and knowledge sharing within the life sciences community, fostering a culture of innovation and entrepreneurship that drives continuous advancement in healthcare technologies. Through partnerships with industry stakeholders, investors, and research institutions, LSIF creates a supportive ecosystem for Ontario-based companies to thrive and innovate, accelerating the pace of discoveries and breakthroughs in life sciences research. By investing in early-stage ventures with high-growth potential and a clear vision for impacting human health, LSIF contributes to the overall prosperity and competitiveness of Ontario's life sciences and healthcare industries, positioning the province as a leader in health innovation on the global stage.