Canadian Centre for Aging and Brain Health Innovation announces up to $1.5 million in funding available to support industry innovations in the field of aging and brain health

TORONTO, ON--(Marketwired - October 26, 2016) - The Canadian Centre for Aging and Brain Health Innovation (CC-ABHI) announced today the launch of its Industry Innovation Partnership Program (I²P²).This initiative is designed to enable successful applicant companies worldwide to work with an eligible seniors' care organization trial partner to test and validate their product or service in the field of aging and brain health. In total, up to $ 1.5 million CAD in funding will be available.

The CC-ABHI Industry-Led Program is seeking applicants with innovations that are aimed at finding solutions to the following care priorities, of which the first three are aimed at older adults with dementia:

1. Reduce unnecessary emergency department visits.
2. Prevent falls or mitigate injury due to falls.
3. Provide better management of complex health conditions at home.
4. Improve brain health or cognitive fitness in older adults.

"Ontario is pleased to support collaborations through the Industry Innovation Partnership Program that will help to improve the quality of life and brain health of our aging population," said Reza Moridi, Minister of Research, Innovation and Science. "This program will test and validate innovative products and services to address challenges like dementia, faced by many Ontarians and their families, while ensuring that the province remains on the cutting edge of research and innovation."

"Baycrest is proud to be the leading partner in this important collaboration among prominent seniors care and private sector organizations across North America, who are working together to test and validate innovative solutions," says Dr. William Reichman, President and Chief Executive Officer of Baycrest Health Sciences.

Product or services companies of any size or stage are welcome to apply, including start-ups, small-to medium-sized enterprises or multinational enterprises.

Applicants must have a mature product or service that they would like to test with older adults at an eligible North American trial partner site. CC-ABHI will provide 50 percent of the project costs to a maximum of $600,000 CAD to the trial partner site to work with the company to test and validate the company's product or service. Successful applicants will be required to co-invest 50 percent of the project costs through cash and in-kind support.

All projects must be completed within a 6 to 18 month period. Eligible applicants must submit an expression of interest by 5 p.m. on November 23, 2016. Shortlisted applicants will be invited to complete a full application form. Full application forms must be submitted by 5 p.m. on December 23, 2016. The eligibility requirements, selection criteria and additional information is available on the CC-ABHI website.

Funding for this program is provided by the Government of Ontario through the Ministry of Research, Innovation and Science, the Government of Canada through the Public Health Agency of Canada, and the Baycrest Foundation.

The Canadian Centre for Aging and Brain Health Innovation (CC-ABHI) is a solution accelerator for the aging and brain health sector, providing funding and support to innovators for the development, testing, and dissemination of new ideas and technologies that address unmet brain health and seniors' care needs. Established in 2015, it is the result of the largest investment in brain health and aging in Canadian history. CC-ABHI is a unique collaboration of health care, science, industry, not-for-profit and government partners whose aim is to help improve quality of life for the world's aging population, allowing older adults to age safely in the setting of their choice while maintaining their cognitive, emotional, and physical well-being. For more information on CC-ABHI, please visit: www.ccabhi.com

Baycrest Health Sciences is a global leader in geriatric residential living, healthcare, research, innovation and education, with a special focus on brain health and aging. As an academic health sciences centre fully affiliated with the University of Toronto, Baycrest provides an exemplary care experience for aging clients combined with an extensive clinical training program for students and one of the world's top research institutes in cognitive neuroscience. Through its commercial and consulting arms, Baycrest is marketing its sought-after expertise and innovation to other healthcare organizations and long-term care homes, both in Canada and internationally. Baycrest Health Sciences has spearheaded the Canadian Centre for Aging and Brain Health Innovation and leads this new Canadian venture, aimed at optimizing the cognitive, emotional and physical well-being of older adults -- across the country and around the globe. Founded in 1918 as the Jewish Home for Aged, Baycrest continues to embrace the long-standing tradition of all great Jewish healthcare institutions to improve the well-being of people in their local communities and around the globe. For more information on Baycrest Health Sciences, please visit: www.baycrest.org