Government of Canada Supports Expansion of Services at ventureLAB

Jan 17, 2024

Southern Ontario is home to some of the most dynamic and diverse technology hubs in North America. Our tech sector plays an important role in the success of our country’s economy. The Government of Canada is committed to investing in tech companies so they can continue to push boundaries and expand to new markets, creating skilled jobs and strengthening the economy.

Over the past five years, FedDev Ontario has supported ventureLAB to establish the Hardware Catalyst Initiative (HCI), a state-of-the-art lab and accelerator that is helping Canadian hardware and semiconductor-focused companies grow and scale up to become globally competitive. The lab offers innovative companies resources to get their products to market faster, retain talent, raise capital and attract more customers. The HCI lab is Canada’s only semiconductor and hardware lab and accelerator, supporting companies that produce the technology that is key to high-growth areas like artificial intelligence (AI), medtech and automobility. To date, HCI has supported over 65 businesses, created and maintained 400 jobs, and created or licensed 80 new intellectual property.

Full Article: Federal Economic Development Agency for Southern Ontario