Scotiabank, the CMA and MD Financial Management Join the Code Life Ventilator Challenge
The Montreal General Hospital Foundation is happy to announce that the Code Life Ventilator Challenge will now benefit from substantial support from Scotiabank and the Canadian Medical Association. The two organizations announced today that they will be contributing, in collaboration with MD Financial Management Inc. (MD), $200,000 to support the challenge aimed at developing open-source ventilator designs.
A joint initiative between the Montreal General Hospital Foundation and the Research Institute of the McGill University Health Centre (RI-MUHC), the Code Life Ventilator Challenge is an international design competition. The initial phase was held in March to create a simple, low-cost, easy-to-manufacture and easy-to-maintain ventilator.
“We are pleased to do our part in supporting healthcare professionals, as they protect the most vulnerable Canadians from this pandemic. This is one such initiative that we hope alleviates some of the burden and helps save lives,” said Glen Gowland, Group Head, Global Wealth Management at Scotiabank.
Entries from more than 2,600 engineers, scientists, programmers and medical technology experts from 90 countries were received by the March 31st deadline. The most promising prototypes are currently being tested and refined. The winners of the competition will be announced soon.
“Innovation is an essential pillar of the COVID-19 response, and we are pleased to support a dynamic process that leads to real solutions to address mounting pressures on our healthcare system. We’re fortunate to have the depth of innovative thinkers and leaders in Canada and elsewhere in the world to create solutions that will have an impact on patient care,” said Dr. Abdo Shabah, CMA’s Board representative in Quebec and spokesperson.
This financial contribution, which will be used as prize money and for other key operational costs to support the Challenge, is the latest in a series of contributions through a 10-year agreement by Scotiabank and CMA to support Canada’s medical profession. Scotiabank and MD continue to work proactively with the CMA and their partner organizations to understand what is most needed and how the medical profession can be best supported.
This major support is timely as the prototype-testing phase of the Challenge currently requires significant funding and resources. The Montreal General Hospital Foundation is pleased to see the mobilization of the community, including leaders such as Scotiabank, that will make it possible to provide users worldwide with ventilators that are effective and easy to produce locally.