LEO Innovation Lab Launches in Toronto with $100 Million in Funding
LEO Pharma Inc. has launched its first North American innovation lab in Toronto. The LEO Innovation Lab will focus on developing new, non-pharmaceutical solutions for people living with psoriasis, to help improve their daily lives.
LEO Innovation Lab plans on partnering with the Canadian startup community to foster innovative apps, web platforms, wearables, tele-medicine and other technologies that can be used by people living with psoriasis. This will offer a great opportunity to Canadian startups looking at areas such as stress control, diet issues, social relationships and healthcare provider interactions.
Interestingly, the Lab has been established with no profit requirements, meaning the focus will remain on helping people first. Additionally, the Innovation Lab has $100 million in funding available, and the timeframe for projects will be 100 days from ideation to beta test. Finally, LEO Innovation Lab is taking an "open door" approach regarding applicants, applications and deadlines. This means that anyone who is passionate and interested can get in touch with Miron Derchansky (Head of LEO Innovation Lab Canada) to see whether there is a good fit.
LEO Pharma has launched similar innovation labs in London, Copenhagen and Paris.
This is another great indicator of how Canadian startups are desirable partners in the global tech industry, and how the Canadian marketplace is one where innovative potential is rewarded.
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