Glen Murray, Ontario's Minister of Research and Innovation, recently announced $2.25 million in funding over three years to establish a network of regional innovation centres referred to as the Ontario Network of Excellence (ONE). One is made up of 14 centres where entrepreneurs can find support, technical expertise, research resources and business advice to help turn innovations into businesses.
In an article by Ian Merringer of the Globe and Mail reporting on the $2.25 million in funding, Glen Murray referring to ONE, comments "It's not just dentistry that will see changes. The program is further acknowledgment that Ontario's economy has shifted away from manufacturing". Tom Rand, a lead adviser at MaRS Discovery District is quoted in the article agreeing with Murray stating "the new economy runs on ideas, not assembly lines. For Ontario to keep and create jobs it will have to actively nurture and incubate globally competitive innovations, whatever the field. The new funding is an expression of long-term support for what we do here." The announcement by Mr. Murray of the $2.25 million in funding was during his attendance at an innovation fair at MaRS Discovery District in Toronto on a Wednesday.
On April 5th Quantum Dental Technologies (QDT) was honoured at the 2011 ACA Summit in
Boston, an event sponsored by the Boston Harbor Angels. The Angel Capital Association (ACA), the trade association of leading angel investment groups in North America, announced that Quantum Dental Technologies of Toronto, Ontario, Canada is the winner of the Silvertip Luis Villalobos Award. The Silvertip Awards honour the most outstanding and successful ACA member portfolio companies throughout North America.
On May 6th 2011 The MaRS Discovery District announce that Health Canada has approved technology from MaRS client Quantum Dental Technologies for sale in Canada. The company Quantum Dental Technologies formed by Dr. Stephen Abrams and University of Toronto mechanical Engineer Andreas Mandelis has turned innovation into business upon the development of The Canary System. The Canary System uses a low powered laser to detect tooth decay earlier and more accurately than the current standard of care, which is x-rays and visual inspection. In the May 6th announcement Dr. Stephen Abrams, DDS was quoted saying "We have been contacted by many dental professionals wanting to know when The Canary System would be available for sale, and now that we have Health Canada's approval, we are looking forward to getting The Canary System into dental offices across Canada".
I found this tidbit of information within the May 6th MaRS Discovery District announcement rather interesting: "The Canary System's interactive software and printed patient reports engage patients in their own oral healthcare like never before".
From the Quantum Dental Technologies website:
The Canary System is a device for the early detection and monitoring of tooth decay. It can detect decay on smooth enamel surfaces, root surfaces, biting surfaces, between teeth and around existing amalgam or composite fillings. It is a pain-free, safe and non-invasive early detection system built on years of thorough research.
The Canary System can:
- Identify and monitor tooth decay without the need for dental x-rays;
- Detect decay on all tooth surfaces including between teeth;
- Detect decay in between teeth at an earlier stage than the traditional dental x-ray;
- Detect decay as small as 50 microns (20 times smaller than a millimeter);
- Examine teeth for decay as deep as 5 millimeters below the tooth surface;
- Offer a safe, non-invasive, painless and quick experience.
Quantum Dental Technologies:
Quantum Dental Technologies is a Toronto-based medical device company specializing in the field of oral healthcare. The QDT team has expertise in business, dental practice, clinical research, laser technology, and worldwide recognition in the oral health profession. QDT has designed and developed The Canary System, a patented technology for the early detection and mapping of tooth decay.
www.thecanarysystem.com
MaRS Discovery District:
MaRS Discovery District is a large scale, mission driven innovation centre located in Toronto and networked across Ontario, focused on building Canada's next generation of technology companies. MaRS works closely with entrepreneurs in life sciences and health care, information, communications and entertainment technologies, clean tech, advanced materials and engineering, as well as innovative social purpose businesses.
www.marsdd.com
The Angel Capital Association
The Angel Capital Association is the trade association of leading angel investment
groups in North America. The mission of ACA is to support the growth, financial stability, and investments success of its member groups. ACA's mission is accomplished by providing professional development, best practices, networking and collaboration opportunities for angel investors who belong to member angel groups. Today 160 angel groups are members of ACA, and those groups represent over 7,000 accredited angel investors.
www.angelcapitalassociation.org
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