CMC Microsystems and ventureLAB Conclude Electronica 2024

On November 19, 2024, CMC Microsystems and ventureLAB concluded a successful week at Electronica 2024, a premier global trade fair showcasing the electronics industry's broad spectrum. This event was part of a delegation from the Province of Ontario, facilitated through collaboration with the Ontario Trade and Investment Office in Munich and the Trade Commissioner Service. The mission aimed to foster key relationships in Germany and Europe, positioning ventureLAB as a leading hub for founders and investors in hard technology (hardtech) sectors, while promoting CMC as a conduit to amplify Canadian semiconductor capabilities and attract international talent.

During the week, CMC, ventureLAB, and other delegation members engaged in various networking events, tours, and one-on-one meetings to build lasting connections with significant industry stakeholders. They showcased innovations from their networks, including companies like Untether.ai, Blumind, and MaxEpic, who presented their technologies at Infineon's headquarters, with additional participants joining virtually. The delegation also participated in knowledge-sharing sessions to encourage collaboration, technology transfer, and the exchange of best practices within the semiconductor and hardtech sectors. Insights into market trends in Germany and globally were collected, providing valuable information for founders and investors strategizing international expansion.

President and CEO of CMC, Gordon Harling, emphasized that the event represented an opportunity to display the Canadian semiconductor ecosystem's potential to the world. He noted a growing global interest in Canada’s semiconductor capabilities, highlighting the eagerness of international firms to engage with Canadian organizations.

Electronica 2024 served as an important platform for Harling to present FABrIC, a substantial $223 million initiative launched in July 2024 to bolster Canada’s semiconductor future. Funded by Innovation, Science, and Economic Development Canada (ISED), FABrIC aims to lower development barriers for Canadian companies in semiconductor manufacturing, facilitating the creation of Internet-connected products (IoT), and enhancing export opportunities. This initiative is designed to leverage Canada’s innovation infrastructure to position the country as a leader in semiconductor manufacturing, with the potential for new products to enter global markets.

Avinash Persaud, VP of the Hardware Catalyst Initiative at ventureLAB, noted the significance of showcasing Canadian hardtech innovations on a world stage. He pointed out that the collaboration fostered during this mission could lead to impactful advancements in semiconductor and AI technologies. Persaud observed considerable media interest in the startups participating in the mission, as well as numerous valuable connections made at the event. He highlighted that several ventureLAB founders received media attention, demonstrating the growing recognition of Canadian innovation and fostering exploration of technologies among ventureLAB companies.

Electronica, biannually held, is recognized for being a leading global trade fair in the electronics sector that connects users, buyers, and decision-makers with industry experts across the globe. With around 70,000 visitors from 100 countries and 2,140 exhibitors at its 2022 edition, Electronica serves as a vital platform for outlining projects and initiating business contracts, bringing together diverse applications across various industries.

For further information about ventureLAB, which is rooted in Ontario’s innovation corridor and supports hardware technology and enterprise software start-ups, inquiries can be directed to Yara Jouzy at ventureLAB.