Big cash, AI support, and new jobs coming to Kitchener
Posted Feb 26, 2026 06:08:15 AM.
Last Updated Feb 26, 2026 05:53:43 PM.
Over two dozen jobs will follow after a big cash announcement for the health technology sector in Kitchener.
Minister of Economic Development, Job Creation and Trade Vic Fedeli was in town Wednesday to support a $5.8 million investment from two Kitchener companies, Intellijoint Surgical Inc. and Vena Medical. The government is backing the projects through its Life Sciences Scale-Up Fund with $450,000.
The two companies are both on Wellington Street in Kitchener, near the expressway.
The combined cash will support nearly 60 jobs, which include 16 new positions.
“This funding strengthens Intellijoint’s ability to innovate, create high quality jobs in Kitchener, and build a globally competitive business,” said Armen Bakirtzian, co-founder and CEO of Intellijoint Surgical.
The hip and knee joint replacement company specialist said the funding coming its way will help “leverage AI and automation technologies to enhance sales, streamline organizational workflows and increase production capabilities.”
A financial boost for Vena Medical will go towards a new facility featuring an AI-powered micro-camera to support stroke interventions.
“Our team has engineered a highly complex, microscopic medical device, and now we have the state-of-the-art cleanroom and manufacturing infrastructure to build it at scale,” said Phillip Cooper, co-founder and COO of Vena Medical
“We are ready to take this Kitchener-Waterloo-born innovation to the rest of the world.”
In total, Vena Medical is investing $4.5M of their own funds and the province is providing $1.5M.
Intellijoint is investing $1.3M of their own funds and the province is providing $450,000.
The funding is part of the province’s Life Sciences Scale-Up Fund (LSSUF).
