MARKHAM, Ontario--Today, ventureLAB announced new partners for its Hardware Catalyst Initiative, Canada’s only lab and incubator for hardware and semiconductor companies, funded in part by the Government of Canada through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) with a $9.7-million investment.
The new partners join ventureLAB’s global network of over 30 industry leaders, including Siemens, Silicon Catalyst, TSMC, Arm, and many more. Together with founding partners AMD, Synopsys, and others, Hardware Catalyst Initiative partners have committed over $15 million in resources, equipment, expertise, and mentorship for the participating companies.
As the demand for chips and sensors continues to increase, global shortages and production disruptions signal the importance of building a strong and resilient Canadian hardware and semiconductor supply chain.
Joining the Hardware Catalyst Initiative’s global network of innovators are:
"Semiconductors power virtually every modern-day technology and product, but it's an industry that poses bigger barriers for Canadian startups," said Melissa Chee, President and CEO, ventureLAB. "The time to market is lengthier and more expensive, and requires highly specialized engineering talent. We're excited to partner with these industry leaders to enable companies to go global and build hands-on experiences to solve real industry challenges."
“We are excited to join the Hardware Catalyst Initiative and to offer our expertise and ecosystem leveraging start-ups to build breakthrough products and technologies. At imec, we believe that start-ups are key in building a sustainable future,” said Raffaela Borzi, Vice President, Strategic Partnerships, Americas.
Also joining the Hardware Catalyst Initiative’s extensive partner network is Seneca College. With a focus on talent and skills building, ventureLAB and Seneca will create work-integrated learning opportunities and hands-on industry and lab experiences, with a focus on data analytics and electronics engineering.
“Seneca is delighted to be working with ventureLAB, the Government of Canada and our many industry partners on the Hardware Catalyst Initiative," said Seneca President David Agnew. "This initiative will give our students the opportunity to help develop made-in-Canada solutions to strengthen the hardware and semiconductor supply chain.”
The global semiconductor industry plays a crucial role in technology advancement and innovation, as part of a $7-trillion market that powers advanced technologies like electric vehicles, robotics in precision agriculture, and 5G communication in mobile devices. The industry is also a major contributor to job creation, attraction, and retention, generating nearly five new jobs for every one semiconductor job created.
To learn more about the Hardware Catalyst Initiative, visit www.venturelab.ca/HCI.
About 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 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.
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 over $200 million in investment capital. At ventureLAB, we grow globally competitive tech titans that build-to-scale in Canada, for global markets.
About FedDev Ontario
For more than 12 years, FedDev Ontario has actively worked to advance and diversify the southern Ontario economy through funding opportunities and business services that support innovation and growth in Canada's most populous region. The Agency has delivered impressive results, which can be seen in southern Ontario businesses that are creating innovative technologies, improving their productivity, growing their revenues, and in the economic advancement of communities across the region.
VP, External Relations and Communications, ventureLAB