Calgary-based Brightsquid is developing a platform to help start-up health technology companies accelerate market access and improve patient care.
A Calgary company will receive up to $1 million from the Opportunity Calgary Investment Fund to launch a new accelerator aimed at fostering the growth of health technology companies.Brightsquid Secure Communications Corp. — a Calgary-based company that offers cyber liability and privacy compliance support to medical practitioners — will use the grant to ramp up HATCH-YYC, a platform aimed at helping start-up health technology companies accelerate market access and improve patient care.HATCH-YYC forecasts it will incubate at least 55 health-tech companies — local as well as national and international — over five years, expanding Calgary’s health-tech cluster. It is expected those companies will create in excess of 300 jobs in digital health over five years.“We want to bring the most promising health technology companies to Calgary to commercialize their products into the system and bring innovation to healthcare much more quickly than can happen otherwise,” said Rohit Joshi, co-founder and CEO of Brightsquid Secure Communications Corp. in a release.HATCH-YYC will be a collaborative workspace where health technology companies have access to a secure medical network to significantly reduce costs and development times and enable startups to commercialize their offering much faster.The Opportunity Calgary Investment Fund was launched by city council in April 2018 to support investments that spur growth and create jobs in strategic sectors. HATCH-YYC is the seventh submission to be approved for OCIF funding, and will be Alberta’s first health technology accelerator.“Health and life sciences is one of the key areas we are focused on for Calgary’s economic growth,” said Mayor Naheed Nenshi, who is a member of the OCIF Board. “HATCH-YYC will provide support so companies in our city can take advantage of the growth opportunities in this field.”