Minister Fast Encourages Canadian Start-Ups to Participate in Accelerator Programs

News Release

Canadian Technology Accelerators are among the many tools available to support Canadian small and medium-sized enterprises in expanding and succeeding in global markets

October 8, 2014 - Ottawa, Ontario - Foreign Affairs, Trade and Development Canada

The Honourable Ed Fast, Minister of International Trade, today encouraged Canadian start-up companies in the information and communication technologies, digital media, sustainable technologies and health-care sectors to access global market opportunities offered by the Canadian Technology Accelerator (CTA) program by taking part in the current recruitment campaign.

CTA programs are managed by the Canadian Trade Commissioner Service (TCS) in partnership with BDC Capital, the investment arm of the Business Development Bank of Canada (BDC). CTA programs starting in January 2015 in Boston, New York City, San Francisco and Silicon Valley, as well as in London, United Kingdom, are currently accepting applications.

CTAs provide innovative Canadian companies with access to unique resources, helping participants refine their business models, collect competitive intelligence, pursue key clients, access financing sources and engage strategic partners to help them grow internationally. Collaboration between TCS and BDC represents a whole-of-government approach to supporting small and medium-sized enterprises.

Minister Fast launched the first CTA in Europe during a trade mission to London last month and will visit the recently launched CTA in India during his trade mission next week.

Quick Facts

Ideal CTA candidates have a product that is ready to sell, unique technology, proven interest from consumers and potential to grow, and a qualified and experienced management team.
There are 11 CTA initiatives in the United Kingdom and the United States (New York City, San Francisco and Silicon Valley, Boston, Denver and Philadelphia). A new CTA was recently launched in India.
Since 2009, more than 350 companies have participated in Canada’s CTA program, resulting in increased sales, new strategic partners and new investment.
In the past year, CTA program participants reported a combined total of more than $30 million in capital raised, increases in strategic partners and increases in revenue.

Quotes

“The Canadian Technology Accelerator initiative provides Canadian start-up companies with access to unique resources and contacts to help them expand internationally.

“This initiative is another example of collaboration between the Trade Commissioner Service and the Business Development Bank of Canada, which is necessary to support small and medium-sized enterprises.

“Under the Global Markets Action Plan, we will continue to provide the tools and support to our companies to help them grow and create new high-value jobs at home. I encourage all interested Canadian companies to participate in this program.”
- Ed Fast, Minister of International Trade

Associated Links

Contacts

Shannon Gutoskie
Press Secretary
Office of the Honourable Ed Fast
Minister of International Trade
613-992-7332

Media Relations Office
Foreign Affairs, Trade and Development Canada
343-203-7700
media@international.gc.ca
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Minister Fast Encourages Canadian Start-Ups to Participate in Accelerator Programs

News Release

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