ventureLAB and Sterling Industries Sign MOU to Strengthen MedTech Innovation in Vaughan

MARKHAM, Ontario--(BUSINESS WIRE)--ventureLAB, leading global founder community for hardware technology and enterprise software companies in Canada located in York region, announced a Memorandum of Understanding (MOU) with Sterling Industries, a premier North American medical device contract manufacturer. This partnership highlights their shared commitment to accelerating the growth of the MedTech ecosystem in Vaughan.

"As our strategic partner, Sterling Industries has been instrumental in the development and advancement of ventureLAB’s MedTech stream. With their decades of experience in medical device development, Sterling’s leadership team has played an important role supporting our MedTech ecosystem. Our collaboration represents an exciting step forward in driving MedTech innovation in Vaughan and across Canada and we are excited to continue strengthening this partnership,” said Hugh Chow, CEO of ventureLAB.

Last year, ventureLAB celebrated the opening of its new Hardware Catalyst Initiative (HCI) MedTech Lab at Sterling Industries, a state-of-the-art facility dedicated to the advancement of hardware devices for medical applications. Since its launch, Sterling Industries has supported ventureLAB through various initiatives, events and workshops aimed at accelerating the commercialization of medical technologies for entrepreneurs in the hardware and semiconductor sectors.

"The MedTech Lab is a one-of-a-kind resource, built to help innovators develop and validate new medical solutions that will ultimately improve patients' lives," said Sterling Industries CEO, David Van Slingerland. "We're excited to build on our long-standing partnership with ventureLAB. We share the same passion and vision to strengthen the local MedTech community, and support the development of tomorrow's life-changing medical devices."

The MOU signing took place at Vaughan Studios & Event Space, where ventureLAB, Sterling Industries and the City of Vaughan hosted a panel discussion bringing together the MedTech ecosystem, followed by a networking event.

“The MedTech Lab as a resource is unparalleled among accelerators, providing critical medical device infrastructure to support entrepreneurs,” said Nima Mohtaram, Advisor Founder Services at ventureLAB. “We are proud to have Sterling Industries as a partner, and we look forward to continuing our journey toward becoming a key destination for innovation in the medical device industry.”

For more information on how to engage with ventureLAB’s MedTech stream or access the MedTech Lab, visit https://www.venturelab.ca/medtech

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 6,800 jobs and raise more than $420 million in investment capital. ventureLAB is powering hardtech founders to build and scale globally competitive ventures that advance Canada’s knowledge-based economy.

About Sterling Industries

Sterling Industries is a leading contract manufacturer and assembler of medical devices. Established in 1984, we help our clients — from Fortune 100 OEMs to innovative startups — deliver innovative Medtech products by providing end-to-end solutions including scaled production, cleanroom access, automation, design-for-manufacturing expertise, supplier consolidation, packaging and more.

Vaughan Economic Development

Vaughan is home to major life sciences and healthcare companies and facilities, including AB Sciex, Alexion, Allergen, argenx, Astellas, Bausch & Lomb, Johnson & Johnson, LGC, Canon Medical, Cardinal Health, Leo Pharma, Chepeid, Olympus Canada, PerkinElmer, Philips Healthcare, Smiths Medical and Teva Pharmaceuticals. Leading Canadian companies include Amico Group, Apotex, Elastic Care, Extendicare, Impopharma, Nexia Health Technologies, Platinum Naturals and Prollenium Medical. Vaughan is also home to Cortellucci Vaughan Hospital – Canada’s first smart hospital. The hospital features fully integrated smart technology systems and medical devices which utilize digital communications and the Internet of Healthcare Things to deliver a world-class and pioneering patient-centred experience.