Inovex Inc., an Oakville-based developer of data-based digital solutions, has received a $100,000 investment from the Ontario Together Fund to develop a data management platform that will securely analyze and track the supply and demand of PPE (personal protective equipment) across the province.
Inovex has partnered with the Trillium Network for Advanced Manufacturing and APMA to leverage their insights into production capacity and frontline demand. Inovex’s data linkage platform is streamlined across regions and sectors, providing businesses with an increased level of PPE volume transparency. Interlinking the end-to-end relationship between primary care sites and PPE manufacturers is at the forefront of Inovex’s goals, in their bid to mitigate faltering PPE supply chains as the prospect of a second wave of COVID-19 looms large.
“We are in the business of amalgamating the data and systemizing it so that it can be used for long term care facilities to assess their risk level of running low on supplies, and then connect them to PPE manufacturers that can supply LTC’s with the required equipment,” said Rohit Shanker, CEO of Inovex Inc. “There are other dashboards that provide transparent healthcare insights, however, our differentiating factor is providing PPE supply and demand analytics towards businesses”.
Ontario Together
Vic Fedeli, Minister of Economic Development, Job Creation and Trade, launched Ontario Together to encourage the development of Canadian medical supplies and PPE.
“Inovex’s advancements in Ontario-wide data analytics is extremely important for the health sector,” said Minister Fedeli, in an interview with Oakville News. “Data collected by firms like Inovex is going to become increasingly important in the upcoming months, and will help long-term care facilities, schools, and other businesses conduct their operations safely.”
Currently, Ontario Together targets small-medium sized businesses and entrepreneurs that offer innovative solutions to shortages plaguing the healthcare sector. So far, the Ontario Government has spent over $900 million buying PPE through submissions made on the Ontario Together website. Technology-driven solutions that strengthen inter-provincial trade and supply chains are highly sought after by the committee overseeing the allocation of the fund.
“Inovex’s approach to gather, filter, and distribute data is a prime example of technological innovation spearheaded by Ontario businesses,” said Fedeli. “The platform’s ability to identify external forces that impact supply chains offer transparent insights into the supply and demand of PPE. It is one of the many factors we never imagined would have to be considered in the past, yet it is so critical that these nuances are addressed.”