ventureLAB and Siemens partner to broaden Canada’s Hardware Catalyst Initiative

MARKHAM, Ontario - June 21, 2021 — Today, ventureLAB and Siemens Digital Industries Software announced today a new partnership to expand its reach for the Hardware Catalyst Initiative, Canada’s only lab and incubator for hardware and semiconductor-focused products. Siemens Digital Industries Software is driving transformation to enable a digital enterprise where engineering, manufacturing and electronics design meet tomorrow. This new partnership will provide companies participating in the Hardware Catalyst Initiative with access to a unique set of offerings from the Siemens Xcelerator™ portfolio, including mechanical and electronic design, product lifecycle management (PLM), electro-mechanical simulation and application lifecycle management (ALM) software to support innovation in electronic hardware, health technology and Internet of Things (IoT). Together, ventureLAB and Siemens can work to reduce barriers and accelerate time to market for Canadian startups and scaleups through support, software and collaboration. “For hardware-focused startups and scaleups, time to commercialization can be a lengthy and expensive process. These companies are building groundbreaking products that will power our technologies of the future,” said Melissa Chee, President and CEO, ventureLAB. “We are excited to partner with Siemens to enable Canadian tech companies to become globally competitive.” Today’s announcement builds on Canada's momentum as a leader in the global tech ecosystem. The growing global network of ventureLAB Hardware Catalyst Initiative partners, including recent announcements with Arm, TSMC, and Silicon Catalyst, recognizes the unique opportunity and role for Canada as a valuable player in the global semiconductor supply chain. The Hardware Catalyst Initiative and its global ecosystem of innovators enables talented Canadian founders to accelerate commercialization and global growth. “Startups are a vital innovation cluster from which the next generation of Canadian technology leaders will emerge, and access to the highest standard of industry software will not only reduce the risks and costs involved for startups and their investors but also reduce cycle times and bring important products to domestic and international markets more quickly,” said Jamie Dinsmore, Vice President and Country Manager, Canada at Siemens Digital Industries Software. “The Xcelerator portfolio will help the ventureLAB community complete product realization from design through manufacturing and into IoT development.” “The global demand for microchips continues to present an opportunity for Canada’s hardware and semiconductor industry to own the podium. ventureLAB, through the Hardware Catalyst Initiative (HCI), is playing an important role in connecting companies in this sector and equipping them with the tools they need to succeed and our government is proud to support them in this work.” — The Honourable Mary Ng, Minister of Small Business, Export Promotion and International Trade and MP for Markham-Thornhill “Through our investments in the Hardware Catalyst Initiative (HCI), through FedDev Ontario, our message is clear. We are here to support Canadian businesses in this vital sector at this pivotal time and beyond.” — The Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for the Federal Economic Development Agency for Southern Ontario

Join ventureLAB and Siemens at HardTech

HardTech is Canada’s premiere hardware technology-focused conference, hosted by ventureLAB, featuring prominent thought leaders in the tech ecosystem that are creating transformative experiences for those around the world. Join us for the keynote panel discussion, where Jamie Dinsmore, Vice President and Country Manager, Canada at Siemens Digital Industries Software, will share his thoughts on The Evolution of Hardware Technology alongside fellow panelists. Date: June 22 & 23, 2021 Time: 11:00 a.m. - 3:00 p.m. EST Location: Register in advanceTo learn more about the Hardware Catalyst Initiative, visit www.venturelab.ca/HCI.

About The Hardware Catalyst Initiative

ventureLAB’s Hardware Catalyst Initiative is Canada’s only lab and incubator for founders building hardware and semiconductor-focused products, enabling the creation of transformative technologies that will power our products of tomorrow — including healthcare technology, consumer electronics, telecommunications, smart energy, connected transportation, and more. Funded in part by the Government of Canada, through almost $10 million in funding from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), the Hardware Catalyst helps tech companies accelerate their time to market in a sector that normally incurs lengthy entry and scale times, enabling Canadian hardware and semiconductor companies to grow and scale locally, and compete globally.

About 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. Our initiatives focused on raising capital, talent retention, commercializing technology and IP, and customer acquisition have enabled thousands of companies to create over 4,000 jobs and raise more than $200 million in investment capital. At ventureLAB, we grow globally competitive tech titans that build-to-scale in Canada, for global markets.

About Siemens Digital Industries Software

Siemens Digital Industries Software is driving transformation to enable a digital enterprise where engineering, manufacturing and electronics design meet tomorrow. The Xcelerator portfolio helps companies of all sizes create and leverage digital twins that provide organizations with new insights, opportunities and levels of automation to drive innovation. For more information on Siemens Digital Industries Software products and services, visit www.sw.siemens.com or follow us on LinkedIn, Twitter, Facebook and Instagram. Siemens Digital Industries Software – Where today meets tomorrow. Note: A list of relevant Siemens trademarks can be found here.