MARKHAM, ON, November 7, 2024 - ventureLAB, a leading global founder community for hardware technology and enterprise software companies in Canada, and Hudson Valley FastFab Inc. (HVFF), a company dedicated to pioneering advanced solutions in mature (essential) node technology, have signed a Memorandum of Understanding (MOU) to collaborate on advancing flexible manufacturing, engineering, and workforce development within the semiconductor and microelectronics industries. This cross-border collaboration highlights the strategic potential of the North American corridor, where Canada and the U.S. join forces to strengthen and expand the semiconductor and advanced manufacturing ecosystem.
With a strong focus on commercialization through its Hardware Catalyst Initiative Lab, ventureLAB is expanding its presence with HVFF to support semiconductor startups and scale-ups across the Northeast. This partnership will leverage advisory support, IP and investor readiness, lab infrastructure, and corporate networks to drive breakthrough technologies from concept to market. ventureLAB is extending its offerings by including prototype production run and early-production run capability.
As part of this partnership, ventureLAB and HVFF are collaborating to expand the HardTech Industrial Cluster™, an ecosystem dedicated to fostering innovation and growth within the semiconductor and advanced manufacturing sectors. Through this initiative, ventureLAB is further leveraging its position as a leading platform in the semiconductor space and its unique ability to convene key stakeholders- startups, academia, the public sector, and industrial partners—from across the entire manufacturing and commercialization process. This collaborative approach aims to strengthen Canada’s national capabilities and will contribute significantly to the growth of our knowledge-based economy.
"We're excited to partner with Hudson Valley FastFab to advance North America's semiconductor and advanced manufacturing ecosystems. This collaboration is just the beginning; together, we will accelerate commercialization and empower companies with the critical resources needed to lead in a competitive market," said Hugh Chow, CEO of ventureLAB.
This partnership will focus on areas that support industry growth and talent development tailored to semiconductor and microelectronics innovation, including:
"Our critical, collaborative and strategic initiative with ventureLAB is a pivotal move for strengthening the foundation of the semiconductor and microelectronics sectors. Together, we will drive innovation and support the growth of startups, strengthening North America's leadership in advanced manufacturing,” said Dick Thurston, Chairman and CEO of Hudson Valley FastFab Inc.
The MOU was signed at ventureLAB’s 4th Annual HardTech Summit, Canada’s leading summit focused on Hardware, Semiconductor, MedTech, AI, and Automobility. Markham and the broader regions are strategically positioned within the Northeast Semiconductor Triangle, playing a central role in a powerful network that stretches from Ottawa to Bromont, Quebec, and down through upstate New York to Albany.
The collaboration between ventureLAB and HVFF exemplifies the advantage of cross-border partnerships. By aligning strengths, they create unprecedented opportunities for growth in the North American semiconductor ecosystem, building a foundation for a competitive, innovation-driven future.
“This partnership marks the next stage for ventureLAB as we actively engage in high-impact opportunities within the semiconductor ecosystem. We’re incredibly excited about what we can accomplish together with Hudson Valley FastFab, ensuring these initiatives gain long-term traction to drive meaningful, lasting impact—not just for today, but for the future,” said Avinash Persaud, VP of the Hardware Catalyst Initiative at ventureLAB.
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 6,800 jobs and raise more than $420 million in investment capital. ventureLAB is powering hardtech founders to build and scale globally competitive ventures that advance Canada’s knowledge-based economy.
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