Life Sciences Innovation Fund (LSIF)
Ontario’s Life Sciences Innovation Fund (LSIF) is an early-stage co-investment fund that supports companies in Life Sciences and Healthcare Technologies sectors related to human health.
Through the fund, OCI co-invests with angel and other investors to help de-risk the opportunity, assisting start-ups in becoming investor and customer ready and allowing them to attract follow-on investment.
Offered by Ontario Centre of Innovation (oci)
Amount
Up to $500,000
Up to $500,000 in early stage risk capital per eligible company, co-invested by OCI with angel and other investors
Quick eligibility check
Who can apply
SECTORS FUNDING GEOGRAPHY STAGE
Human Health-related Life Investment up to $500K at Companies that are Investing in early-stage Sciences with a minimum the pre-seed and seed headquartered and company with competitive IP addressable market size of stages. predominantly located from the conceptual stage within the Province of $100M. through commercialization Ontario.
Current company headcount must be >50% located in Ontario (not projected).
Looking for Start-ups that
(Eligibility Criteria):
Looking for • Incorporated for no more than five years (Ontario or Canadian for-profit incorporation) and have principal operations in Start-ups that Ontario.
(Eligibility Criteria):
- Have raised less than $3 million from third-party capital.
- Seeking to raise Pre-Seed and Seed investments (total round
sizes range from $1 to $5 million).
- Ontario-based accredited investors should be part of the
investment round.
Not eligible:
Note: OCI Ready for Market (R4M) Portfolio companies are not eligible for investment via the Life Sciences Innovation Fund (LSIF
About the funding
Through the fund, OCI co-invests with angel and other investors to help de-risk the opportunity, assisting start-ups in becoming investor and customer ready and allowing them to attract follow-on investment.
Eligible companies will receive up to $500,000 in early stage risk capital to scale their made-in-Ontario health solution both at home and in global markets.
For details on the OCI lifetime funding limit, please refer to– https://www.oc-innovation.ca/programs.
Similar programs
| Program | Type | Amount | Status |
|---|---|---|---|
| The Investment Accelerator Fund (IAF) | Investment | Average cheque size of C$500K, with earliest first cheques starting at C$50K through our Sparks program | Open |
| BDC Growth & Transition Capital: Working Capital | Loan, Investment | Financing from $250,000 to $35M, repayable over 2 to 8 years | Open |
| BDC Industrial Innovation Venture Fund | Investment | No fixed amount | Open |
