The Government of Canada is committed to supporting entrepreneurs and businesses across the country through the pandemic, and investing in their success on the road to recovery to generate growth, create jobs, and strengthen the middle class. Investments in the technologies industries are helping to boost innovation, accelerate the commercialization of new technologies, grow and scale operations, and foster technological advancement.
Today, the Honourable Mary Ng, Minister of Small Business and Export Promotion and Member of Parliament for Markham–Thornhill, announced an additional FedDev Ontario investment of $4.7 million for Markham’s own ventureLAB to enhance its Hardware Catalyst Initiative Lab with virtual access and greater testing capabilities. The announcement was made on behalf of the Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for FedDev Ontario.
The Hardware Catalyst Initiative is Canada’s first state-of-the-art incubator in the hardware and semiconductor space, funded through an initial $5-million non-repayable investment in 2019. Semiconductors are a critical component at the core of many emerging industries and innovations, ranging from electric vehicles, to robotics in precision agriculture, to 5G communications and mobile devices.
Full article: canada.ca