Biomedical Zone Hosts Canada’s First NewCo Tech Startup Festival
Tech startups all throughout North America are shaping the future of numerous industries including healthcare. In order to help startups connect with venture capitalists, established companies, and others, NewCo has held festivals all throughout the world on an annual basis in sixteen other cities.

This was the first time NewCo held a festival in Toronto. Prior to the event, NewCo knew they wanted to hold a festival in Toronto, but had not initially selected a location. NewCo’s vision for the festival and what they desired required selecting the ideal location able to accommodate guests, and at the same time bring together people and businesses.

NewCo considered several locations throughout Toronto before reaching out to the Biomedical Zone. The Biomedical Zone is a medical tech startup incubator supported by both Ryerson University and St. Michael’s Hospital, who work together to provide assistance to developing startup operations in the healthcare tech industry segment.

The reason NewCo choose to partner with the Biomedical Zone to host their festival in Toronto was largely in part to the fact the Biomedical Zone and the tech startups they assist fit NewCo’s definition of the types of startups they like to support through their festivals.

NewCo desires organizations that have a goal to make a difference through technological innovations and are focused-based, yet their objectives are much more than simply earning a profit. In addition, NewCo widely supports localized innovation and development, which the GTA has much to offer.

One of the key differences between traditional festivals and business conferences, which tend to consist of several vendors and businesses in booths passing out information, and presentations, NewCo’s conferences and events allows attending businesses and the startups to invite attendees into their business to give them an idea of how their operation works.

Taking this approach is especially beneficial when venture capitalists are attending the events and looking for potential startups to invest in and support financially. When startups have this platform to show an investor exactly what they do and their long-term vision, it makes it much easier for them to find new sources of funding to expand upon their current research and development efforts.

Among some of the big names attending the NewCo Festival at the Biomedical Zone were Etsy, Facebook, and Google, along with 37 other companies. In addition, the festival attracted numerous investors from all over Canada, along with more than thirty investors from the United States.

Another integral part of NewCo’s festivals is the ability for startups to demo their technologies. At the Toronto festival, one of the most popular demos was a virtual reality-based surgery application, developed by Virtual SurgerySIM. The simulation is beneficial for existing surgeons, who want to practice procedures prior to actual surgery, as well as medical students.

Also featured at the festival was the Biomedical Zone’s Co-Development Lab. The Lab is a special program that brings together students for Ryerson University and St. Michael’s Hospital and allows them to collaborate a various projects, along with various tech startups.

The Biomedical Zone was honoured to host NewCo’s tech startup festival and hopes to have the opportunity to host future festivals.

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Posted by: DSR
Tuesday, November 1, 2016
Tag: Healthcare
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