Published August 18, 2022 at 9:48 am
A new program was announced this week that would provide resources to high-potential international startups to help them enter the Canadian market.
A new program was announced this week that would provide specialized resources to high-potential international startups to help them enter the Canadian market, create new jobs, and promote economic returns.
The Acceleration+ program will be delivered through a partnership between Innovation Factory (Hamilton), Haltech (Halton Region), TechPlace (Burlington), and LatAm Startups (Toronto).
The project is expected to help bring 100 international startups to Canada, create 180 new jobs, generate $50 million in revenues, and contribute to the commercialization of new technology products and services.
“Through this innovative partnership… we are thrilled to support emerging companies as they establish a presence in Southwestern Ontario,” said David Carter, Innovation Factory executive director. “The Acceleration+ program provides important services and resources to a community of newcomers and their innovative businesses while also promoting economic development for our region.”
Specifically tailored to the unique needs of an international expansion, organizers say Acceleration+ will provide services and programming available through the three organizations, including coaching, mentorship, business advisory support, access to networking events, and strategic introductions to investors and regional stakeholders. In addition, companies will be provided office space, access to customized market research and intelligence, and support with immigration and visas.
The launch of Acceleration+ follows a recent $3 million Government of Canada investment for LatAm Startups.
“This partnership… boosts our ability to support innovative companies with leading-edge solutions to make this region their home,” said Shann McGrail, Haltech Regional Innovation Center CEO. “This program opens Halton and Hamilton’s doors to the world, creating new opportunities and high-impact jobs for all entrepreneurs and existing companies.”
Haltech is a not-for-profit Regional Innovation Center (RIC) that has worked with over 800 innovation companies in the Halton Region since its inception.
Led by Burlington Economic Development, TechPlace fosters and invests in new and growing technology companies.
Innovation Factory is a not-for-profit business accelerator that has served as a catalyst for technology innovation in the greater Hamilton area since 2011.
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