Business
New company enters growing brain fitness market
New company enters growing brain fitness market
About this update from Onex Corporation
[{"type":"text","content":"\n\n\n\nDec. 2, 2009 (Canada NewsWire Group) -- TORONTO, Dec. 2 /CNW/ -- One of the world's leading cognitive science institutes announced today it has created a new company with MaRS, Canada's premiere innovation centre, to develop and market brain fitness products to help adults extend their memory and cognitive abilities longer in the lifespan.Baycrest president and CEO Dr. William Reichman made the announcement at the Ontario Innovation Summit: The Business of Aging, an international conference underway at MaRS today. This event has drawn a world-class audience of industry professionals to explore the profound public policy challenges - as well as the growing opportunities - associated with greying of the global population. Brain fitness is one of the areas where Ontario has a significant opportunity to lead the field.Baycrest will put its substantial cognitive science reputation behind a new for-profit company - Cogniciti - that will produce a suite of products, games and training protocols grounded in 20 years of aging brain research at Baycrest.\"Innovation partnerships between science and technology are essential if we want to improve the brain health of aging Ontarians and others around the world,\" said Dr. Reichman. \"Creating a commercialized science enterprise was a natural step in the evolution of the Baycrest Centre for Brain Fitness, which launched last year with the support of a $10-million investment from the Ontario Ministry of Research and Innovation, matching an additional $10 million from private donors.\"\"When it comes to innovation, Ontario means business - and today's announcement is one more example of Ontario ingenuity at work,\" said Minister of Research and Innovation John Milloy. \"The McGuinty government is proud to support the work that both MaRS and Baycrest are doing to improve quality of life and tackle the challenges of an aging population. Ontario is supporting innovators across the province to ensure this kind of success is the rule, not the exception.\"In a market category where a best-of-breed platform for brain fitness products has yet to exist, Baycrest and MaRS see a huge opportunity to capture the pole position.\"With its exceptional research capabilities and commitment to providing the best possible care, Baycrest is extremely well positioned to be the global leader in its field,\" s...