MARKHAM, ON, June 22, 2021 /CNW/ – The global hardware and semiconductor industries present a key opportunity for Canada’s economic recovery from COVID-19, competitiveness in the digital economy, and future prosperity and growth.
Today, at ventureLAB’s virtual HardTech Conference, Canada’s premiere hardware and semiconductor event, the Honourable Mary Ng, Minister of Small Business and Export Promotion and Member of Parliament for Markham–Thornhill, highlighted the importance of made-in-Canada semiconductor and hardware-related products, including nano and micro chips.
At the conference, Minister Ng reiterated the Government of Canada’s ongoing commitment to strengthening the semiconductor industry in Canada, as part of a panel discussion moderated by Manjula Selvarajah, Technology columnist for CBC radio, which included participants Kevin O’Neil, Corporate Vice President and Managing Director, AMD Canada and Jamie Dinsmore, Vice President and Country Manager, Siemens Industry Software. Minister Ng also highlighted Canada’s wealth of raw materials and close relationship with the United States that present an incredible advantage for semiconductor manufacturing and collaboration. As well, Minister Ng noted the strengths in research and development available to advance study in this valuable industry across Canada’s universities.
The Government of Canada, through FedDev Ontario, has supported the Hardware Catalyst Initiative, Canada’s first state-of-the-art lab and incubator in the hardware and semiconductor space, to extend its reach to entrepreneurs across Canada with virtual access and greater testing capabilities. This support was provided through investments totalling nearly $10 million since 2019 in ventureLAB, to establish the HCI Lab.
“The growing global hardware sector presents an exciting opportunity for Canadian innovators to step forward with their world-class products and add value to global supply chains. Our government is committed to ensuring growth and competitiveness in this vital sector by supporting Canadian businesses to seize the opportunities before us as we work towards a strong, inclusive, and digital economic recovery from COVID-19.”
– The Honourable Mary Ng, Minister of Small Business and Export Promotion and Member of Parliament for Markham–Thornhill
“Canada has the talent, capability and tools to grow and expand in the hardware and semiconductor space. The benefits of growing this vital sector are numerous and include creating good jobs, boosting the economy and standing out in the global market.”
– The Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for the Federal Economic Development Agency for Southern Ontario
“As technology advances, the demand for hardware and semiconductors continues to surge. Founders in this space are creating the technologies that will power our products of tomorrow, modernize traditional industries, and support a sustainable and resilient Canadian economy.”
– Melissa Chee, President and Chief Executive Officer, ventureLAB
- ventureLAB is a leading global founder community for hardware technology and enterprise software companies in Canada. Located at the heart of Ontario’s innovation corridor in York Region, ventureLAB is part of one of the biggest and most diverse tech communities in Canada. ventureLAB’s initiatives focus on raising capital, talent retention, commercializing technology and IP, and customer acquisition enabling thousands of companies to create over 4,000 jobs and raise more than $200 million in investment capital. ventureLAB grows globally competitive tech titans that build-to-scale in Canada, for global markets.
- The Hardware Catalyst Initiative—Canada’s only lab and incubator for hardware and semiconductor companies—recently announced three new participants: Dell Technologies, Dassault Systèmes and Neuronicworks. They have joined its growing global network of experts and industry leaders. This network has committed over $15 million in resources, equipment, expertise and mentorship for participating companies and is well positioned to accelerate commercialization and time to market for Canadian companies working in this in demand sector. To date, 16 companies have received support over two cohorts.
- Since 2019, ventureLAB has also received non-repayable contributions of more than $2 million from FedDev Ontario through the Women Entrepreneurship Strategy (WES) Ecosystem Fund to deliver the Tech Undivided program, which provides an ecosystem of resources and networking opportunities for women-led technology companies to refine their products, boost their sales and thrive in the tech sector. ventureLAB is currently on the third cohort of women-led companies participating in this program after successfully serving 17 businesses.
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SOURCE Federal Economic Development Agency for Southern Ontario