BDC Capital and Canadian Technology Accelerators renew their partnership to help technology companies expand abroad

Canadian Technology Accelerators are among the many tools available to help Canadian small-and medium- sized enterprises expand and succeed in global markets

MONTREAL, May 25, 2015 /CNW Telbec/ - BDC Capital and the Department of Foreign Affairs, Trade and Development (DFATD) have renewed their partnership, for a third year, on the Canadian Technology Accelerator (CTA) Initiative. Since the partnership began in 2013, the Initiative has grown from four CTAs, to a network of 12 across the U.S. as well as in France, England and India, covering a variety of high-technology sectors including information and communications technologies (ICT), life sciences, and sustainable technologies.

Since 2009, more than 350 companies have participated in Canada's CTA. The program provides innovative Canadian technology 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. In the past year, CTA program participants reported a combined total of more than $30 million in capital raised, increases in the number of strategic partners and increases in revenue. The CTA is part of Canada's Global Markets Action Plan (GMAP), the government's blueprint for creating jobs and economic growth through exports. Using a whole-of-government approach, the program is managed by DFATD and implemented by the Trade Commissioner Service with the help of local industry experts.  Through its deep connections to Canadian technology companies and venture capital communities, as well as support of the country's leading accelerators, BDC Capital is well positioned to recommend companies that fit best with the CTA programs.

Several companies funded by BDC Capital, including REGEN Energy, PHEMI, CarbonCure, and Voices.com, have successfully completed the CTA programs.  For instance, Voices.com, a London, Ontario-based online marketplace for voice talent, participated in the CTAs in San Francisco and in New York City. The company is experiencing 400 percent year-over-year growth and credits the CTA Initiative for part of its success thus far. "Our time with the CTA in New York City had a very positive impact on our company," says David Ciccarelli, Chief Executive Officer of Voices.com. "In the first 60 days alone, for example, we did $100,000 of business in the New York market. This was an increase of 50 percent from just a few months before."

"To grow their business and fulfill their potential, Canadian start-ups need to look beyond their borders," says Jérôme Nycz, Executive Vice President, BDC Capital. "Canadian entrepreneurs must realize they can do this while remaining resolutely Canadian and creating jobs right here at home. The CTA Initiative is a remarkable tool for growing global companies, and it's only going to get better," he added.

For the Honourable Ed Fast, Minister of International Trade, the CTA is an example of the tools the government is providing to Canadian small-and medium-sized enterprises. "The Canadian Technology Accelerator Initiative provides Canadian companies with access to unique resources and contacts to help them expand internationally," says Minister Fast. "With the Global Markets Action Plan, through economic diplomacy and under a whole-of-government approach to export, the Harper Government has revolutionized Canada's trade-promotion efforts. This Initiative is another example of the support our government is providing to Canadian small and medium-sized businesses, and I encourage Canadian entrepreneurs to participate in this unique Initiative. Our government will continue to provide tools and support to our companies to help them grow abroad, creating jobs and economic prosperity for all Canadians."

For more information on the Canadian Technology Accelerators program and to submit an application, visit www.tradecommissioner.gc.ca/CTA.

About BDC Capital

A subsidiary of the Business Development Bank of Canada (BDC), BDC Capital offers a full spectrum of specialized financing and investment solutions to help Canadian entrepreneurs achieve their full growth potential. With more than $1.6 billion under management, BDC Capital takes a strategic, patient approach to nurture companies' development over the long term.

From venture capital and equity, to growth and transition capital, our team of over 100 experienced, local professionals partner with entrepreneurs to identify and meet their needs on flexible terms. Some of the sectors in which we specialize include IT, industrial/clean/energy technology, and healthcare. For more information, please visit www.bdccapital.ca or follow us on Twitter at @BDC_Capital.

About the CTA Initiative

The Canadian Technology Accelerator Initiative, managed by the Canadian Trade Commissioners Service, provides Canadian high-growth market-ready companies support to access global markets and entrepreneurship services within the Information and Communication Technologies (ICT), Life Sciences, and Sustainable Technologies industries.

SOURCE Business Development Bank of Canada

Daniela Pizzuto, BDC Public Relations, [phone], [email protected]