Image of Minister Ng on Zoom conference call

ventureLAB Receives $4.73M in FedDev Ontario Funding to Expand Canada’s First Hardware Lab and Incubator, Catapulting Canadian Tech Founders to the Global Stage

The FedDev Ontario non-repayable contribution of $4.73M will be injected to expand Canada's first hardware and semiconductor-focused lab
Image of Minister Ng on Zoom conference call

MARKHAM, ON, March 5, 2021 /CNW/ – Today, new funding from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) was announced to bring emerging tech companies in Southern Ontario a step closer to becoming competitors in the $7 trillion global semiconductor market. The FedDev Ontario non-repayable contribution of $4.73M will be injected to expand Canada’s first hardware and semiconductor-focused lab, ventureLAB’s Hardware Catalyst Initiative.

The funding comes as manufacturers sound the alarm about a global shortage of chips, which are required to drive innovation in the global economy ranging from the next-generation of electric vehicles, robotics in precision agriculture, 5G communications and mobile devices.

Full Article: newswire.ca