Expanded Canadian Technology Accelerator program
The Canadian Technology Accelerator (CTA) is a program of Global Affairs Canada’s Trade Commissioner Service. It offers high-intensity programming that helps selected high-growth, high-potential Canadian technology firms scale up by connecting them with export, investment and partnership opportunities in global innovation centres. Over the course of a four- to six-month program, CTA participants are provided with tailored support ranging from in-market working space and coaching to market validation and introductions to potential partners, clients and investors.
Since 2013, the CTA program has helped over 500 Canadian technology companies accelerate their growth by gaining a foothold in key U.S. innovation centres. Since 2013, the program has achieved notable success in Boston, New York and San Francisco. An investment of $2 million a year has been leveraged into $510 million in capital raised, $190 million in new revenue, 996 strategic partnerships and 2,125 new jobs for 489 high-growth, high-potential firms in key technology sectors, such as information and communications technology, life sciences and clean-tech.
With its proven track record, the CTA program is a scalable initiative that can be expanded to support export growth and diversification for Canadian companies. As part of Budget 2018’s commitment to strengthen Canada’s diplomatic and trade presence in Asia, the CTA program is already being rolled out to four Asian technology hubs (Hong Kong, Singapore, Taipei and Tokyo).
With $17 million over five years announced in the Fall Economic Statement 2018 as part of Canada’s export diversification strategy, CTA programming will be expanded to the global innovation centres of Berlin, London, Mexico City and Delhi.
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