Life Sciences Scale-Up Fund: Accelerate Your Business Expansion

The Ontario government is offering a significant opportunity for businesses in the life sciences sector through the Life Sciences Scale-Up Fund (LSSUF). This initiative is designed to propel small and medium-sized enterprises (SMEs) toward substantial growth and innovation.

Funding Details

The LSSUF provides non-repayable contributions of up to $2.5 million, covering up to 33% of eligible project costs. Applicants are required to secure the remaining 67% from other sources, such as private investments or additional grants.

Eligibility Criteria

To qualify for the LSSUF, businesses must:

• Be for-profit entities operating in Ontario.
• Have a minimum of two years in operation, supported by audited or reviewed financial statements.
• Employ between 5 and 500 full-time equivalent (FTE) employees within the province.

Priority Sectors

The fund focuses on projects within the following areas:

1. Biomanufacturing: Including the production of biologics, vaccines, and cell and gene therapies.
2. Medical Devices and Diagnostics: Development and commercialization of innovative medical technologies.
3. Digital Health Technologies: Advancements in health informatics, telehealth, and remote patient monitoring.
4. Pharmaceutical Manufacturing and Innovation: Drug development and production enhancements.
5. Health System Innovation and Sustainability: Projects aimed at improving healthcare delivery and efficiency.

Applications are currently open and must be submitted by March 3, 2025, at 5 p.m.

‍

Call Us

Invest Sarnia is committed to assisting local businesses in navigating the application process. If you are planning to apply for this program, feel free to reach out to us. We may be able to assist you by providing market intelligence, offering guidance on the eligibility requirements facilitating introductions to potential partners, or reviewing your application.

For more information and personalized support, please contact us today.

‍

Seize this opportunity to elevate your business within Ontario’s thriving life sciences sector.

‍