The Life Sciences Innovation Fund (LSIF) is an early-stage co-investment program delivered by the Ontario Centre of Innovation (OCI) that supports Ontario-based life sciences and health technology companies as they move from early development to commercialization.
The fund invests alongside private investors to help reduce risk, accelerate market readiness, and scale made-in-Ontario innovations in areas such as therapeutics, diagnostics, medical technologies, and digital health. Each selected company can receive up to $500,000 in early-stage risk capital, typically as part of a broader seed or pre-seed financing round.
Eligibility Criteria
Companies are typically expected to meet the following requirements:
Must be an Ontario or Canadian incorporated for-profit company with principal operations in Ontario
Focused on life sciences or healthcare technologies related to human health
In early stages, usually pre-seed or seed stage, raising a total round of about $1M to $5M
Have raised less than $3 million in third-party capital prior to LSIF investment
Must be raising a round that includes Ontario-based accredited or angel/venture co-investors
Generally, companies are expected to have developed innovative IP or a working prototype ready for commercialization