Program description

The investments program offers project financing for collaborative projects sponsored by Canadian health technology SMEs. Collaborative projects, for this program, feature Technology Readiness Level (TRL) 6 to 9 activities that are out sourced to an academic institution, a government-funded health institution, or public not-for-profit institution. Third party, strategic partners are encouraged to participate within collaborative projects to offset risk and/or cost. 

MEDTEQ is proud to offer project financing to the companies(rather than directly to the project host-institution) via the following financial instruments: 

– Loans (up to $100,000)

– Simple Agreement for Future Equity (SAFE) (up to $100,000)

– Keep It Simple Securities (KISS) (up to $200,000)

– Convertible Loans/Debentures (up to $200,000)

– Equity (up to $1,000,000)

Terms and conditions

The Collaborative Project 

  • The adoption or validation project/pilot must be TRL 6, or above
  • Demonstration of protocol and contract will be required prior to disbursement
  • The use of grants to pay for collaborative projects are encouraged and will not have any bearing on the Investment program amount

MITACS or RSRI programs are commonly used to help fund projects.


  • Canadian corporation, with ongoing and meaningful operations in Canada
  • Less than 500 employees
  • Collaborative projects are executed within Canada
  • Collaborative projects are of maturity TRL 6, or above
    • Eligibility is also permitted if a TRL 6+ product is being re-purposed to a new application where the TRL dips below TRL 6 for that specific application
  • All health technology projects are welcome
    • Some examples: software, hardware, mixed hardware/software, medical devices, diagnostics
    • Exclusions: distributors, pharmaceutical companies, biotech companies



Convertible Instrument


Investment range

$25K – $100K

$25K – $200K

$100K – $200K

$200K – $1M

Investment Amount Target as a %age of project value

25 %

25% – 50%



Additional Private Investment Matching as a multiple of MEDTEQs amount        

Not required

3x, if above $100K



Other requirements

Demonstration of successful tenure through a reputable accelerator/incubator

Demonstration of successful tenure through a reputable accelerator/incubator

Financial partner

Centres of Excellence for Commercialization and Research (CECR), Networks of Centres of Excellence, Government of Canada

More information