September 14, 2020
ventureLAB and Silicon Catalyst’s new partnership expands the Hardware Catalyst Initiative’s expert network to support hardware and silicon start-ups and scale-ups.
MARKHAM, Ontario, SILICON VALLEY, California – September 14, 2020 — ventureLAB announced today that it has partnered with Silicon Catalyst to expand its reach for the Hardware Catalyst Initiative (HCI), Canada’s first hardware and silicon lab and incubator. Silicon Catalyst is the world’s only incubator focused exclusively on accelerating solutions in silicon, offering a coalition of in-kind and strategic partners to dramatically reduce the cost and complexity of development.
With a world-class network of mentors to advise startups, Silicon Catalyst is helping new semiconductor companies address the challenges in moving from idea to realization. The incubator/accelerator supplies startups with a path to design tools and silicon devices, as well as offering networking opportunities and access to funding, banking and marketing acumen to successfully launch and grow their companies’ novel technology solutions.
According to the Semiconductor Industry Association, the global semiconductor industry generates $7 trillion in economic activity, creates 4.89 indirect new jobs for every one semiconductor job, and enables the development of breakthrough products like smart energy, autonomous vehicles, and innovative healthcare solutions. Canada is a leader for creating and scaling IP-rich semiconductor and hardware companies and a magnet for home-grown and global talent.
The new partnership will expand the HCI’s expert network to support hardware and silicon start-ups and scale-ups building and commercializing transformative solutions in healthcare, telecommunications, advanced computing, connected transportation and smart energy. This expanded support will also help the HCI deliver its mission to accelerate commercialization and reduce cost of development for emerging hardware and silicon leaders who are Built-to-Scale from Canada and go global.
“We are delighted to partner with Silicon Catalyst as the reach of the Hardware Catalyst Initiative expands coast-to-coast and around the world,” said Melissa Chee, President and CEO, ventureLAB. “Canada is a recognized leader for creating and scaling IP-rich semiconductor and hardware-based companies and a magnet for home-grown and global talent. We are excited to collaborate with Silicon Catalyst in our collective bold vision to enable Canada’s pioneering tech founders scale in the global innovation economy.”
“Our mission is to provide early-stage entrepreneurial teams with the strongest possible foundation for business growth,” stated Rick Lazansky, co-founder and Chairman of Silicon Catalyst. “Through our collaboration with the ventureLAB technology hub and it’s Hardware Catalyst Initiative, these startups will gain access to critically important tools, services and in-depth semiconductor industry expertise uniquely available from our ecosystem.”
Applications for the Hardware Catalyst Initiative are open until October 15, 2020. Join us for a Q&A webinar on the HCI on Tuesday, September 15, 2020 from 12:00-1:00 p.m. Hear from the HCI team, learn about the program, and meet Richard Curtin and Tarun Verma, Managing Partners at Silicon Catalyst, to learn more about how they help semiconductor startups succeed.
Date: Tuesday, September 15, 2020
Time: 12:00-1:00 p.m. EST
Location: Register in advance
To learn more about the Hardware Catalyst Initiative, visit www.venturelab.ca/HCI.
ventureLAB’s Hardware Catalyst Initiative is Canada’s first hardware and silicon-focused lab and incubator. Funded in part by the Government of Canada, through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), this competitive program supports companies building foundational technologies that support transformative sectors like AI, quantum computing, 5G, IoT, UAV, virtual reality, and beyond. The HCI will help southern Ontario-based tech SMEs accelerate their time to market in a sector that normally incurs lengthy entry and scale times, enabling Canadian hardware and silicon companies to grow and scale locally, and compete globally.
First announced in June 2019, with $5 million in funding from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), the Hardware Catalyst Initiative is Canada’s first hardware and silicon-focused incubator, allowing breakthrough companies from southern Ontario to develop transformative hardware solutions that power the products of tomorrow, including healthcare technology, consumer electronics, telecommunications, smart energy, and connected transportation.
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