Canadian Technology Accelerator program makes it easier for Canadian companies to break into global markets.
May 9, 2013
by PLANT STAFF
MONTREAL – BDC Venture Capital has announced a strategic partnership with the Department of Foreign Affairs and International Trade (DFAIT) to expand the Canadian Technology Accelerator (CTA) program in the US to make it easier for innovative Canadian tech firms to break into more global markets.
The partnership will enable further development of new accelerators in Boston, New York City, San Francisco and Philadelphia.
“This partnership will help some of the most promising Canadian companies access new clients and investors in the US and abroad, which will result in a strengthening of our venture capital ecosystem as a whole,” says Jean-René Halde, president of BDC. “The intent is that this translates into greater and faster growth of new Canadian companies that are more competitive and improve long-term economic prospects for the whole country.”
The Canadian Technology Accelerator (CTA) program was launched in 2009 by DFAIT’s Trade Commissioner Service. Similarly to privately-run accelerators in Canada, DFAIT’s CTAs in the US host selected Canadian technology SMEs for a number of months, providing them with office space free of charge, mentoring and networking opportunities as well as introductions to key players in the local business and tech communities.
The program is delivered in collaboration with local partner facilities such as RocketSpace, Plug and Play, General Assembly, QB3 and Cambridge Innovation Centre, among others. Canadian entrepreneurs are provided with the opportunity to pitch their product to potential US clients, strategic partners and financiers. The CTAs cover the high tech sectors of IT, life sciences, gaming, clean tech and healthcare.