Justin Trudeau, Prime Minister of Canada has said that Canada’s strong start-up culture makes our country one of the most innovative and prosperous places in the world. Today’s announcement is about making sure Canadian businesses have the support they need to thrive, compete globally, and create jobs for people from coast to coast to coast.”
Canadian businesses drive innovation, create good, middle class jobs, and generate economic growth that improves the lives of all Canadians. To succeed in the global innovation race, we need to help promising companies take the next step and grow into global firms. That’s why the Government of Canada is investing in a growth and innovation network along the Waterloo–Toronto–Ottawa corridor.
The Prime Minister, Justin Trudeau, today announced an investment to bring together three top innovation hubs—Communitech, MaRS Discovery District, and Invest Ottawa. Together, they will implement the Scale-Up Platform to help innovative companies grow more quickly and create 18,000 high-quality, skilled jobs.
Through the Platform—the first of its kind in Canada—the three organizations will pool their resources to help 30 Ontario companies scale up and achieve revenues of $100 million or more by 2024, as well as to provide services to thousands of others. From coaching and advice to greater access to capital, talent, and global markets, the Platform will give businesses the tools they need to grow. It will also strengthen partnerships with post-secondary institutions, preparing young Canadians for the jobs of today and tomorrow.
By making strategic investments in Canada’s technology sector, the Government of Canada is helping secure our position as a world leader in innovation and creating the right conditions for continued growth in our evolving economy.