The federal government is renewing its Scale-Up Platform program with $47.5 million for Communitech, MaRS Discovery District, and Invest Ottawa. The program helps high-growth companies access capital, talent, and mentorship to build Canadian “anchor firms” generating $100M+ annually.
Despite falling short of the $52.4M initial funding in 2019, the renewed program reflects optimism, with MaRS ventures generating $9.8B in revenue and Invest Ottawa scaling firms raising $1.39B in capital. Leadership transitions occurred across all hubs, with MaRS CEO Alison Nankivell highlighting the impact of continued investment in creating global-scale Canadian companies.
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