Officials say the program aims to strengthen the economy by helping high-potential companies commercialize new technologies and create jobs across Ontario
An Ottawa-based artificial intelligence drug discovery company is among eight startups selected for a national biotech accelerator.
NuvoBio has joined the BioCreate program, which provides each company with $150,000 in funding.
Elizabeth Gray, Program Senior Director with BioCreate, says the support goes beyond financial assistance.
Gray also explained how the new technology can be used.
The program is backed by Ontario Genomics and the Federal Economic Development Agency for Southern Ontario, part of a five-year federal investment to help companies scale and bring products to market faster.
NuvoBio is the second Ottawa firm in the program, following Virica Biotech in 2023. Startups from Kingston and Toronto are also part of the latest cohort.
The accelerator focuses on food, agriculture, health and cleantech sectors, with a competitive selection rate.
Gray described the purpose of the program.
Officials say the program aims to strengthen the economy by helping high-potential companies commercialize new technologies and create jobs across Ontario.