ventureLAB MedTech Dry Lab: Pioneering Medical Innovation

The global MedTech industry is experiencing steady growth, with projections indicating an increase from around $668.2 billion in 2024 to $694.7 billion by 2025, reflecting an annual growth rate of approximately 4%. To navigate this evolving landscape, MedTech startups require access to advanced infrastructure, resources, and expertise. A critical challenge faced by entrepreneurs is the gap between prototype development and the manufacturing of market-ready medical devices. This gap arises due to the necessity for testing, scalability in manufacturing, and compliance with stringent quality standards.

Startups often engage with specialized accelerators, testing laboratories, and contract manufacturers to address these challenges, gaining guidance through the complexities of scaling and regulatory approval processes. Among those addressing this crucial need is ventureLAB, a Canadian innovation hub that provides a comprehensive ecosystem for MedTech entrepreneurs. ventureLAB’s offerings include support for startup fundraising, certifications, intellectual property strategies, business development, international expansion, and market entry tactics.

A key feature of ventureLAB’s MedTech initiative is the MedTech Dry Lab, a state-of-the-art facility specifically designed for the development of innovative medical technologies. The Dry Lab allows startups to design, simulate, and test their medical devices in an environment free from chemical experiments, which helps refine products before proceeding to expensive clinical trials. Nima Khadem Mohtaram, who oversees MedTech initiatives at ventureLAB, emphasizes that the organization is dedicated to not just fostering innovation but also laying the groundwork for future healthcare advancements.

Within the Dry Lab framework, activities include design and prototyping, specialized testing and measurement, data analysis, and software development. These operations enable early-stage validation of medical technologies, subsequently optimizing them and accelerating commercialization. As per feedback from founders, essential engineering resources needed for medical device development include ultrasound phantoms, oscilloscopes, and safety testing equipment, among others.

A further significant aspect of ventureLAB’s strategy involves the Hardware Catalyst Initiative (HCI) MedTech Lab. Developed in collaboration with Sterling Industries and located at their manufacturing facility in Vaughan, Ontario, this advanced Lab focuses on the creation of microelectronic hardware devices for medical applications. It provides companies with vital expertise and resources necessary for the production of medical devices, reinforcing ventureLAB’s commitment to supporting hardware-focused MedTech startups.

To empower startups further, ventureLAB is enhancing the MedTech Dry Lab by integrating advanced prototyping and testing tools, AI-driven simulations for performance optimization, regulatory compliance assistance, and strategic partnerships for commercialization. These enhancements are aimed at connecting startups with crucial industry players, thereby smoothing the pathway to market.

ventureLAB is also actively shaping Canada’s MedTech landscape through collaborations with healthcare providers, educational institutions, and industry stakeholders. Partnerships with organizations such as Mackenzie Health, York University’s Medical School, and the Vaughan Healthcare Precinct serve to position Canada as a leader in MedTech innovation. By bridging the divide between healthcare providers, policymakers, and industry experts, ventureLAB is ensuring that Canadian MedTech startups have the necessary resources and support to thrive in a competitive global market. Ultimately, the MedTech Dry Lab operates as a comprehensive innovation hub, focused on accelerating the development of effective healthcare solutions.