Government of Canada invests over $3 million to support international tech entrepreneurs start-up and scale-up in southern Ontario
FedDev Ontario investment to help bring 100 global start-ups to Canada and create 180 jobs
June 17, 2022 – Toronto, Ontario
The Government of Canada is committed to supporting the development and growth of international entrepreneurs in Canada and recognizes the important contributions new innovators in the technology sector bring to our economy.
Today, at the LatAm Startups Conference, on behalf of the Honourable Helena Jaczek, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), Julie Dzerowicz, Member of Parliament for Davenport, announced a non-repayable contribution of over $3 million for LatAm Startups (LatAm) to scale a business support network to help international start-ups in the technology sector to incorporate, do business and create jobs in southern Ontario.
With this investment, LatAm, in partnership with three regional economic development organizations: TechPlace (Burlington), Haltech (Halton Region), and Innovation Factory (Hamilton), is delivering Startup Programs to provide eligible international entrepreneurs in key sectors such as manufacturing, cleantech, and health and life sciences access to tailored business advisory services, networking opportunities, culture coaching, GBA+ training and local market insight, to help them start and grow in southern Ontario. New businesses participating in the program will create job opportunities for Canadians while adding to local supply chains and strengthening the technology sector in Canada.
This project will support 100 new international businesses, which are expected to create 180 jobs, file 100 intellectual property registrations, generate $50 million in revenues, including $5 million from cleantech sales and contribute to the commercialization of new clean technologies in southern Ontario.
LatAm’s project will focus on supporting traditionally underrepresented groups in the innovation economy by promoting the talent of women, youth, racialized individuals and Indigenous Peoples, integrating specialized tools and connecting entrepreneurs with local talent through partnerships with local community groups as they prepare to staff in the region.
The application intake for the first cohort of the program is open until June 25. Additional details related to the project and application process can be found at latamstartups.org/startup-programs.
“Our government recognizes the importance of global business attraction and the role it plays in Canada’s economic development recovery. Today’s investment in LatAm Startups will provide entrepreneurs and businesses with the support they need to produce innovative solutions and grow here in southern Ontario, while creating good jobs for underrepresented Canadians and supporting the economy.”
– The Honourable Helena Jaczek, Minister responsible for the Federal Economic Agency for Southern Ontario
“Through this investment, LatAm Startups is strengthening our local economy and supporting a resilient southern Ontario as we continue to advance economic development. This project will create good and secure jobs for Canadians and provide international entrepreneurs looking to establish themselves here in the region with the tools they need to succeed.”
– Julie Dzerowicz, Member of Parliament for Davenport
“On behalf of LatAm Startups I would like to thank FedDev Ontario for supporting our community of newcomers. We are looking forward to working together with our partners TechPlace, Haltech and Innovation Factory. This project will not only have positive impact on our startups, but it is expected to support a number of technology companies to expand, generate more jobs and build a stronger and diverse community in Ontario.”
– Miryam Lazarte, CEO, LatAm Startups
LatAm Startups is a woman-led non-profit accelerator-incubator in Toronto that works with international startups with a mandate to target international entrepreneurs and help them establish and scale businesses in Canada. LatAm has supported more than 100 scale-ups since its establishment in 2016.
At LatAm Startups, 100 percent of the staff are considered either racialized individuals, people with disabilities (including invisible and episodic disabilities), 2SLGBTQ+ and/or gender and sexually diverse individuals.
The LatAm Startups Conference is an annual event that encourages Canada and Latin Americas to work together towards innovation. This year’s event welcomed 200 attendees and showcased speakers from the Canadian and Latin American startup ecosystems, market entry experts and scaleups.
FedDev Ontario is delivering $224 million through the Jobs and Growth Fund (JGF) to help businesses in southern Ontario and the organizations who support them, future-proof, build resiliency and prepare for growth by transitioning to a green, inclusive and competitive economy.
Since 2015, the Government of Canada, through FedDev Ontario, has invested over $400 million in almost 200 projects related to clean growth in southern Ontario.
Office of the Minister responsible for the Federal Economic Development Agency for Southern Ontario
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