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Investments

8

Portfolio Exits

1

Funds

1

About Innovation Factory

Innovation Factory specializes in investing in start-up and early stage companies.

Innovation Factory Headquarter Location

76 Whitney Road

Short Hills, New Jersey, 07078-3409,

United States

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CB Insights Intelligence Analysts have mentioned Innovation Factory in 1 CB Insights research brief, most recently on Nov 9, 2020.

Latest Innovation Factory News

Ottawa invests $6 million in the Innovation Factory

Apr 7, 2021

April 7, 2021 HAMILTON, Ont. – The federal government’s FedDev Ontario announced an investment of $6 million for Hamilton’s Innovation Factory, which will work alongside the Synapse Life Science Consortium to launch the Southern Ontario Pharmaceutical and Health Innovation Ecosystem (SOPHIE). SOPHIE will bring together Synapse’s network of experts in the life sciences field with Innovation Factory’s experience helping businesses accelerate the commercialization of their products. Through an annual cohort, businesses will receive the advisory services, testing capabilities and financial support needed from experts in the healthcare field to develop and commercialize their specialized health innovations and scale up their companies. Support though SOPHIE will create 50 jobs, maintain an additional 100 jobs, and encourage 100 firms to either establish themselves or grow in southern Ontario. This investment will also leverage over $7.5 million in other investments. “Through this partnership with FedDev Ontario, Innovation Factory will accelerate the commercialization efforts of innovative life science companies emerging from the dynamic southern Ontario health ecosystem,” said David Carter (pictured), executive director, Innovation Factory. “Innovation Factory will build on our history of supporting startup and scaling companies, ensuring made-in-Canada solutions can emerge with the support of Hamilton’s dynamic health ecosystem.” Hamilton is home to world-class research institutions such as McMaster University, Hamilton Health Sciences, Mohawk College and St. Joseph’s Healthcare, and hundreds of life science organizations companies, organizations and research institutions. The Hamilton region has the second largest hospital network in Canada, and the country’s most research-intensive university. Established in 2011, Innovation Factory is a not-for-profit Regional Innovation Centre, offering training, workshops, mentorship and programming in the Hamilton-area, which has supported more than 2,300 businesses to accelerate their commercialization projects. Since 2016, the 120-member Synapse Life Science Consortium has connected key partners in the Hamilton-area life science network to commercialize products and promote the impact of the sector. “Canada’s emerging life science sector represents a fantastic opportunity to create jobs and drive better health outcomes for citizens across the country,” said Alex Muggah, director, Synapse Life Science Consortium. “The Hamilton region will play a critical role in supporting this growth. Through SOPHIE, the Synapse Consortium’s world-class academic and clinical experts, facilities and infrastructure will work hand-in-hand with SMEs and entrepreneurs to build the next generation of innovative health technology. FedDev Ontario has invested over $27 million in projects in the Hamilton area since 2015, including $6.5 million to the YWCA Hamilton to address critical labour gaps in fields traditionally underrepresented by women. FedDev Ontario has invested more than $235 million in nearly 75 Health and Bioscience related projects since 2015.

Innovation Factory Investments

8 Investments

Innovation Factory has made 8 investments. Their latest investment was in Eversens as part of their Seed VC - II on July 7, 2020.

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Innovation Factory Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

7/1/2020

Seed VC - II

Eversens

$0.41M

Yes

1

6/27/2012

Debt

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$99M

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10

5/14/2012

Series E

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$99M

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10

2/26/2012

Debt - II

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$99M

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10

5/10/2011

Series D

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$99M

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10

Date

7/1/2020

6/27/2012

5/14/2012

2/26/2012

5/10/2011

Round

Seed VC - II

Debt

Series E

Debt - II

Series D

Company

Eversens

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Amount

$0.41M

$99M

$99M

$99M

$99M

New?

Yes

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Co-Investors

Sources

1

10

10

10

10

Innovation Factory Portfolio Exits

1 Portfolio Exit

Innovation Factory has 1 portfolio exit. Their latest portfolio exit was WaveTec Vision on August 28, 2014.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

8/28/2014

Acquired

2

Date

8/28/2014

Exit

Acquired

Companies

Valuation

Acquirer

Sources

2

Innovation Factory Fund History

1 Fund History

Innovation Factory has 1 fund, including Medical Devices Ventures LLC.

Closing Date

Fund

Fund Type

Status

Amount

Sources

Medical Devices Ventures LLC

1

Closing Date

Fund

Medical Devices Ventures LLC

Fund Type

Status

Amount

Sources

1

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