OCI Releases its Annual Report Highlighting Five-Year Impact on Ontario’s Innovation Economy

TORONTO, Oct. 20, 2026 – The Ontario Centre of Innovation (OCI) released its 2025-2026 annual report at its annual general meeting today, showcasing the impact of its support for companies to create jobs, attract investment and economic growth in Ontario.

In 2025-2026, OCI invested $186 million in innovation, including $100 million in co-investment from industry and partners. These investments supported 1,280 Ontario companies, helped create or retain 7,892 jobs, generated $607 million in incremental sales and helped OCI-supported companies attract $761 million in follow-on investment.

Over the past five years, the 4,067 companies supported by OCI’s programs have generated lasting economic impact across Ontario:

• creating and retaining 32,877 jobs
• generating $2.4 billion in incremental sales
• attracting $3.7 billion in follow on investment

As part of OCI’s mission to recognize and support Ontario’s innovators, two major awards were presented at its annual general meeting. The 2026 Mind2Market Award was presented to MIMOSA Diagnostics, who were recognized for their innovative tissue health imaging technology. The 2026 Baylis Ontario Life Sciences Innovator Award, voted on by Ontarians, was presented to Dr. Waël Hanna, Co-Founder and CEO of NodeAI.

Quotes

“The return on innovation is measured by the businesses we help build, the jobs they create and the economic growth they drive. Over the past five years, OCI has helped Ontario entrepreneurs turn promising ideas into commercial success by connecting them with the capital, expertise and partnerships needed to grow and compete. Our impact is reflected in stronger Ontario companies, technologies reaching new markets and economic opportunities taking root in communities across the province. That’s what investing in innovation should deliver: a more competitive, resilient and prosperous Ontario.”

— Dr. Claudia Krywiak, President and CEO, Ontario Centre of Innovation

“Through our partnership with the Ontario Centre of Innovation, we are helping businesses commercialize new technologies, attract investment, reach new markets and compete on the global stage. OCI plays an important role in delivering our government’s innovation priorities and connecting companies with the capital, expertise, industry partners and opportunities they need to grow.”

— Vic Fedeli, Minister of Economic Development, Job Creation and Trade

Additional resources

• Read OCI’s 2025-26 annual report
• See the technology developed by 2026 Mind2Market award winner MIMOSA Diagnostics
• Meet Dr. Waël Hanna, Co-Founder and CEO of NodeAI, and winner of the 2026 Baylis Ontario Life Sciences Innovator Award
• Learn more about OCI’s programs and investment funds

Media

Alicia Pereira, apereira@oc-innovation.ca