Markham, ON – April 9, 2026 – ventureLAB and OBIO® have signed a Memorandum of Understanding (MOU) to partner on enabling Ontario-based healthtech and life sciences companies to scale, commercialize, and expand into global markets.
Through this partnership, ventureLAB and OBIO® will work together to strengthen the commercialization pathway for small and medium-sized enterprises (SMEs), helping them navigate complex regulatory environments, access new markets, and build globally competitive businesses. The collaboration bridges ventureLAB’s expertise in hardtech and deeptech commercialization with OBIO’s leadership in life sciences and health tech innovation and commercialization.
OBIO® companies will be supported through ventureLAB's Hardware Catalyst Initiative, Canada’s only hardware and semiconductor-focused lab and incubator, to develop and commercialize semiconductor-based medical devices as well as access to the newly built life sciences lab to support SMEs with much needed lab space to develop their biotech assets.
“Canada has an opportunity to lead in the development and commercialization of health technologies, but companies need the right support to scale beyond early success,” said Hugh Chow, CEO of ventureLAB. “By working with OBIO®, we are strengthening the ecosystem that helps medtech innovators bring their solutions to market and expand globally. This partnership reflects the importance of building companies that are not only innovative, but also positioned to compete and grow in international markets.”
“OBIO® is committed to supporting Ontario’s health science companies as they advance innovative solutions that improve patient outcomes and drive economic growth,” said Dr. Maura Campbell, President and CEO of OBIO®. “This collaboration with ventureLAB extends that support by connecting companies with additional expertise, infrastructure, and networks that can help them scale and reach global markets.”
The MOU establishes a framework for collaboration between the two organizations over a two-year term, with a shared focus on strengthening Ontario’s healthtech ecosystem and supporting companies in achieving long-term commercial success.
By aligning their resources and expertise, ventureLAB and OBIO® aim to create more opportunities for Ontario-based companies to grow, compete internationally, and contribute to a stronger, more resilient innovation economy.
About ventureLAB
ventureLAB is a leading global founder community for hardware technology and enterprise software companies in Canada. Located at the heart of Ontario’s innovation corridor in York Region, ventureLAB is part of one of the biggest and most diverse tech communities in Canada. Our initiatives focused on raising capital, talent retention, commercializing technology and IP, and customer acquisition have enabled thousands of companies to create over 7,100 jobs and raise more than $480 million in investment capital. ventureLAB is powering hardtech founders to build and scale globally competitive ventures that advance Canada’s knowledge-based economy.
About OBIO®
Founded in 2009, OBIO® is a not-for-profit, membership-based organization engaged in strategy, programming, policy development and advocacy to address the needs of the next generation of companies developing innovative human health products. OBIO® supports early-stage and venture-backed life sciences and health tech companies enabling them to raise capital, hire and train industry-ready talent, facilitate the commercialization and market adoption of their technologies in health systems, and access infrastructure. OBIO® advances this goal through collaborative partnerships with industry, the investment community, academia, the healthcare system and government. For more information, please visit obio.ca and follow OBIO® on LinkedIn and X.
Media Contacts:
David Greenberg
Senior Manager, PR & Communications
ventureLAB
dgreenberg@venturelab.ca
Doriane Rey
Senior Manager, Marketing & CommunicationsOBIO®dorianerey@obio.ca
