Two medical technology companies started by University of Waterloo graduates received a combined $1.95 million on March 3, 2026, to expand their operations in Kitchener. The provincial government provided the funding through the Life Sciences Scale-Up Fund to help these local businesses create new jobs and bring more healthcare products to the market.
Vena Medical will use $1.5 million of the total funding to establish a new Manufacturing Centre of Excellence in Kitchener. This project will support nine current employees and create 13 new jobs for the community. The company recently received approval from the U.S. Food and Drug Administration to use its Vena MicroAngioscope System, a microscopic camera tool, to look inside blood vessels.
Intellijoint Surgical Inc. was awarded $450,000 to integrate artificial intelligence and automation into its production and distribution lines. This investment helps the orthopaedic surgery technology company keep 34 existing workers and hire three new staff members.
Both businesses were founded by former students from the university engineering program and grew out of their final-year Capstone Design projects. While Vena Medical is part of the Velocity startup hub, Intellijoint Surgical collaborates regularly with the incubator. This provincial investment is designed to help homegrown companies manufacture their inventions locally instead of moving their operations abroad.
