Southern Ontario’s tech sector, a North American powerhouse, is bolstering Canada’s economy significantly. Acknowledging this, the Canadian government has pledged continued investment.
FedDev Ontario’s support has been instrumental in establishing ventureLAB’s Hardware Catalyst Initiative (HCI), Canada’s sole lab and accelerator focusing on hardware and semiconductors. HCI has already propelled over 65 businesses, generating 400 jobs and 80 new intellectual properties.
Recently, Ministers Filomena Tassi and Mary Ng announced a $4.5 million investment in ventureLAB, enhancing HCI’s capabilities. This funding is set to foster 30 additional companies, maintain 170 jobs, and commercialize 25 new products.
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