Innovation, Trade and Rural Development
March 3, 2008
Young Entrepreneur Receives Funding to Launch New
A medical software company that made a successful debut in the eye
care industry has received funding to modify its software technologies
and expand its product line to meet the needs of the dermatology
industry. MedicLINK Systems Ltd. has received $351,698 from the
Provincial Government’s Commercialization Program to develop its new
dermatology software and market it in the United States.
"MedicLINK is a young, rapidly growing company
that in three years has already built a reputation for innovation in the
eye care industry and is now building on its experience to diversify
into new markets," said the Honourable Trevor Taylor, Minister of
Innovation, Trade and Rural Development. "MedicLINK is an example of the
entrepreneurial climate that has emerged in the province –
it has identified key export markets and is taking steps to diversify
their product line and expand its market potential."
MedicLINK specializes in developing medical software solutions that
aid in enhancing the operational efficiency and growth potential of
medical professional businesses. Its flagship software,
Eyesistant, is sold to optical stores and
optometric practices in Canada and the United States.
"Our dermatology software will integrate and build upon the workflow
efficiencies, patient relationship management technologies, and business
intelligence capabilities of Eyesistant. It will help dermatologists
create a lean workflow environment, facilitate more effective electronic
health records, deliver better patient care, and increase clinical
revenues," said CEO Jonathan Brett.
In August 2006, MedicLINK received $57,901 from the Commercialization
Program to help commercialize its Eyesistant software, and $12,480 from
the Provincial Government’s Business and Marketing Development program
to help the company launch Eyesistant in Canada and the United Sates.
MedicLINK and its CEO have received many industry accolades including
the Business Development Bank of Canada’s Young Entrepreneur of the Year
2007 for Newfoundland and Labrador, St. John’s Board of Trade 2007
Business Excellence Award for Innovation, and Ernst and Young’s Atlantic
Emerging Entrepreneur of the Year 2007. Additionally, it was named a Top
IT Up and Comer by the Branham Group in 2007 and was the recipient of
the St. John’s Board of Trade’s New Start-up of the Year Award 2006.
"A marketplace that targets knowledge-based industries and
value-added products is emerging in the province," said Minister Taylor.
"The Provincial Government is committed to enhancing their impact on the
local economy through a comprehensive suite of business support
programs. These programs help facilitate the diversification of both
products and services, identification of potential export markets, and
Delivered by the Department of Innovation, Trade and Rural
Development, the Commercialization Program bridges an identified funding
and investment gap between product research and product marketing.
Through this program, the Provincial Government supports private sector
enterprises in activities leading to the development of innovative,
market-ready products and services. Proposed initiatives must
demonstrate innovation enhancement consistent with the province’s
innovation strategy, Innovation Newfoundland and Labrador: A
Blueprint for Prosperity. The program provides assistance of up to
75 per cent of total costs, to a maximum of $500,000 per project.
The Business and Market Development Program is designed to provide
new entrepreneurs and expanding small businesses with matching funding
to help them acquire the necessary expertise to pursue new business
ideas and new markets for their products or services. The $1 million
program is intended to support new growth opportunities in the economy,
such as value-added manufacturing activities and export-oriented
From left to right: Jonathan Brett, CEO,
MedicLINK with the Honourable Trevor Taylor, Minister of Innovation,
Trade and Rural Development.
Director of Communications
Department of Innovation, Trade and Rural Development
MedicLINK Systems Ltd.
2008 03 03 11:10 a.m.