Health startup Hyivy has secured a $25,000 investment as the winners of the CHEO Bear’s Den pitch competition.
On Friday, the smart pelvic health company was one of four Canadian startups to present tech-powered health-care solutions to a panel of judges at the University of Ottawa.
It was the third edition of the event, hosted by the CHEO Research Institute’s Core Innovation. In a press release, the organization said that the competition showcases Canadian health innovation while allowing founders to put their ideas in front of potential investors.
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“Health care is often seen as risk-averse, which can make it challenging to bring innovative technologies to market,” said Jason Berman, CEO and scientific director of the CHEO Research institute, and vice-president of research at CHEO.
“But the greatest risk to health care is standing still and continuing to do things the way we always have. At the CHEO Research Institute, we are committed to changing that mindset and fostering an environment where bold, new ideas can thrive.”
This year, the panel selected Hyivy as its winner. The Kitchener startup presented its pelvic health rehabilitation system, which uses therapeutic hardware, connect software and biosensors to provide thermal therapy, auto dilation and monitor for pelvic pain and dysfunction.
CEO and founder Rachel Bartholomew said in the release that the company’s win provided “great validation” for its product and ongoing efforts to reach more women.
“The whole interconnected ecosystem the CHEO Research Institute has built through Core Innovation is incredible,” she said. “Being in a room full of all different kinds of people invested in health innovation, and having real discussions on how we can advance the conversation around adoption and deployment of Canadian innovation and technology in health care is really special.”
This year’s judges panel included Jean Ngoie, chief clinical engineering officer at CHEO; Kathleen McGarvey, venture development lead of Montreal VC firm Tandem Launch; Beacon Hill-Cyrville Coun. Tim Tierney; and MPP Tyler Allsopp, who is also the parliamentary assistant to the minister of economic development job creation and trade.
Three other Canadian startups pitched during the competition. Ontario startup Neuralign uses neuroscience-based cognitive training programs to improve reading and learning skills for individuals with dyslexia, while AI-powered Modulate, which is based in Montreal, 3D prints orthopedic devices, including custom scoliosis braces. Quebec-based Paperplan Therapeutics uses VR to help patients manage pain and anxiety around medical procedures.
