On January 29, 2025, Innovation Factory announced the selection of 10 companies for the latest cohort of its Runway program, contributing significantly to the development of Canada’s tech ecosystem and attracting global talent. Launched in 2021, the Runway program aims to accelerate international start-ups seeking to establish operations in Canada through the federal government’s Start-Up Visa program.
The selected companies will receive a variety of support services, including personalized mentorship, access to strategic networks, and workspace solutions in the Hamilton-Halton area. Over the following months, these businesses will collaborate with mentors and local economic teams to foster growth and smoothly transition into the Canadian market.
According to David Carter, CEO of Innovation Factory, the Runway program showcases the global reach and impact of innovation in the region, promoting an innovative spirit among participants. He emphasized that these new companies would enhance the vibrant tech landscape and significantly contribute to local prosperity.
Since its inception, the Runway program has seen over 500 applications and has successfully supported 37 companies. Many of these businesses credit the program as vital to their achievements. For instance, Milad Parsa, CEO of Runaso, a manufacturer of specialty vehicles, remarked that the program transformed his company’s trajectory by providing essential resources, mentorship, and guidance for their North American market entry. The support also eased their immigration process, allowing them to focus on growth.
Allison Le, co-founder and CEO of Cooco, a Vietnamese startup that simplifies home cooking through an app, highlighted how the program served as a bridge to Canada’s competitive landscape. She noted that it equipped them with valuable insights and connections, ultimately turning feelings of overwhelm into confidence in launching their business.
Innovation Factory remains dedicated to supporting startups and entrepreneurs by fostering collaboration, innovation, and sustainable practices. The Runway program continues to play a crucial role in attracting and fostering international companies ready to impact the Canadian tech sector.
Applications for the Runway program are accepted year-round, and interested companies are encouraged to apply via the Innovation Factory website.
Innovation Factory, established in 2010, is a not-for-profit business accelerator focused on driving technology innovation in Southern Ontario. It offers various services like business training, mentorship, and access to strategic connections to help innovators increase revenue, attract investment, and create jobs. The organization also provides sector-specific resources and facilities for sectors like smart transportation and life sciences.
The newly selected cohort includes diverse companies:
Each of these companies is poised to contribute to the innovation landscape in Canada, underscoring the success and impact of the Runway program.
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