On June 3, representatives from G7 nations gathered in Markham and Toronto for the G7 Semiconductor Point of Contact Group Stakeholder Forum, hosted by ventureLAB, a prominent Canadian hub for hardware and semiconductor innovation. This significant meeting aimed to enhance international cooperation and set priorities for the future of semiconductors, underlining a shared commitment to strengthen supply chains and foster economic growth through innovation.
The forum was coordinated by Innovation, Science and Economic Development Canada (ISED), with contributions from the National Research Council of Canada (NRC) and Global Affairs Canada (GAC). Delegates from all G7 countries attended, reflecting a collaborative spirit initiated during Italy’s 2024 G7 Presidency. This forum aims to deepen partnerships in innovation and technology among the G7 nations.
Canada's established semiconductor ecosystem was highlighted through a guided tour of ventureLAB's advanced hardware lab and incubator—unique in the country. This facility showcased Canada's capabilities in silicon development, hardware commercialization, and semiconductor research and development (R&D). Hugh Chow, CEO of ventureLAB, emphasized Canada's potential to lead in semiconductor innovation, calling the forum a clear signal of the country's commitment to developing a robust and competitive semiconductor industry grounded in collaboration and advanced infrastructure.
An evening networking reception in downtown Toronto followed the forum, facilitating strategic interactions among global semiconductor stakeholders, including government officials, academics, and industry leaders. This gathering underscored the growing global importance of semiconductors, which are vital across multiple sectors, from healthcare to defense. The COVID-19 pandemic highlighted vulnerabilities within the global chip supply chain, prompting G7 nations to prioritize semiconductor resilience and innovation.
As Canada prepares for its G7 Presidency in 2025, the forum provided a platform to project Canadian leadership in global semiconductor strategy and policy. Key discussion points included the necessity for investing in R&D, workforce development, and domestic manufacturing to secure access to essential technologies.
VentureLAB voiced its dedication to collaborating with the Government of Canada and international partners to bolster the semiconductor sector. This commitment aims to forge a shared vision for a sustainable, future-ready economy, positioning Canada as a leader in the global semiconductor landscape. The event not only facilitated meaningful dialogue among stakeholders but also reinforced the significance of cooperation in addressing the complex challenges faced by the semiconductor industry today.
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