York Region's ventureLAB Welcomes Breakthrough Tech Companies Paving the Way for Innovations Such as Combatting Blindness and Powering Self-Driving Wheelchairs

Backed by $8 million in support from York Region-based technology leaders, and $5 million in support from the Government of Canada, ventureLAB's Hardware Catalyst Initiative — Canada's first hardware and silicon incubator — is putting Canadian talent at the forefront of global innovation by enabling eight breakthrough companies from southern Ontario to access costly equipment, accelerate time to market, and compete globally

MARKHAM, ON, Jan. 30, 2020 /CNW/ - Today, ventureLAB, a leading technology hub located in York Region — Canada's second largest tech hub — announced the first cohort of companies in its Hardware Catalyst Initiative (HCI) and $8 million in resources and mentorship from founding partners, including global tech leaders AMD and Synopsys. First announced in June 2019, with $5 million in funding from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), the HCI is Canada's first silicon incubator, allowing breakthrough companies from southern Ontario to develop transformative hardware solutions that power the products of tomorrow, including healthcare technology, consumer electronics, telecommunications, smart energy, and connected transportation.

The HCI features a state-of-the-art 1,500 square foot lab with specialized equipment and Electronic Design Automation (EDA) toolsets, critical for manufacturing semiconductor, silicon, or advanced hardware-based solutions. The hardware equipment can cost millions of dollars per product, causing a major barrier to entry and making it difficult for startups to commercialize products. The HCI was born out of the need to access expensive tools, lab space, investment, and industry expertise.

"The Hardware Catalyst Initiative is our solution for emerging tech companies to become competitors in the global hardware economy, which generates $7 trillion in economic activity," says Melissa Chee, President and CEO, ventureLAB. "Without this opportunity, it's extremely difficult for hardware and silicon startups to afford the barriers to entry. York Region's unmatched tech expertise will ensure that HCI participants have every opportunity to hone their skills, scale their operations, and commercialize their products globally."

Founding Partners of the HCI
To support the HCI, global tech leaders and emerging industry leaders from within York Region's deep tech ecosystem (home to more than 4,300 tech companies) have committed up to $8 million in resources, expertise, and mentorship for the participating companies. Together, these founding partners will play a critical role in the success of Canada's first silicon incubator:

• AMD — As a global leader in high-performance computing, graphics and visualization technologies, AMD will provide business mentorship to HCI participants.
• Synopsys — As a world leader in electronic design automation (EDA), Synopsys will offer licenses for design software and business mentorship for companies participating in the HCI.
• Microart Services Inc. — As a leading contract electronics manufacturer with expertise in design, turn-key global procurement, assembly, and test engineering services for Printed Circuit Board Assemblies (PCBA) and full Box Build System Assemblies. Microart Services Inc. will contribute business and technical mentorship and workshops.
• ReMAP — As an integrated shared ecosystem for the acceleration of the commercialization of electronics products, ReMAP will contribute business and technical mentorship and workshops.
• Bereskin & Parr — As an internationally renowned intellectual property & technology law firm, Bereskin & Parr will contribute business and technical mentorship and workshops.
• MNP — As one of Canada's largest full-service chartered accountancy and business advisory firms, MNP will contribute business and technical mentorship and workshops.

"AMD is an innovation leader in the semiconductor industry, and we are excited to help found ventureLAB's Hardware Catalyst Initiative," says Kevin O'Neil, Corp. VP, Legal & AMD Canada Managing Director. We look forward to building on Canada's existing hardware expertise by working with other innovative companies to push the boundaries of what is possible."

"We are proud to be a founding partner of the Hardware Catalyst Initiative," says Mario Dorio, Director, North America Sales, Synopsys. "Synopsys is committed to supporting tech companies building groundbreaking technologies that will continue to build on Canada's microelectronics manufacturing capabilities, accelerate commercialization, and create new jobs."

"We've got workers' and Canadian businesses' backs. With FedDev Ontario funding towards the Hardware Catalyst Initiative, promising tech companies will have direct access to the equipment, expertise and support needed to grow and scale locally, and compete globally." says the Honourable Mélanie Joly, Minister of Economic Development and Official Languages. "Congratulations to ventureLAB, partners and the innovative companies that will benefit from this new state-of-the-art lab and incubator."

The First Cohort of HCI Companies
To select the inaugural HCI cohort — which kicks off in February 2020 — ventureLAB issued a call for southern Ontario companies leveraging hardware and silicon technologies with breakthrough ideas that have the potential to significantly impact society. The eight companies selected will use the access to specialized equipment and industry expertise to realize their ideas, bring their products to market in an accelerated fashion, and help put Canadian talent at the forefront of global innovation.

• Bionic-i — A hardware biotechnology company focused on augmenting vision and combating blindness with a surgically implantable device that can treat and monitor an "orphan" genetic disease, as well as rejuvenate cataract surgical patients by eliminating their need for reading glasses
• BluMind.AI — Analog machine learning inferencing; engines for network Edge devices
• Cyberworks Robotics — AI-based technology for autonomous self-driving wheelchairs
• Ekidna Sensing — Will provide a rapid and critical testing solution for licensed producers in the global cannabis industry
• Humantec Inc. | Menopod  — Manufactures the 'Menopod', a handheld electronic cooling device for women suffering from hot flashes during menopause
• Micromensio — A semiconductor company developing a unique biosensing technology to provide transformative solutions for healthcare, the environment, and industry
• TARTAN AI — A hardware company optimizing machine learning to offer processing elements and transparent memory compression technologies; the result is a reduction in the computation, storage, and communication needed when executing machine learning models on silicon.
• Wind Shape Technology Inc. — Design and manufacture proximity sensors for electronic faucets

Launch Event
Please join us for the launch of the Hardware Catalyst Initiative (HCI) on Thursday, February 6, at ventureLAB from 9:30AM - 12:00PM. Hear from the team that made the HCI a reality, the inaugural cohort, the founding industry partners, and local dignitaries, all followed by a tour of the completed HCI Lab with hors d'oeuvres and refreshments.

Date: Thursday, February 6, 2020

Time: 9:30am-12:00pm

Location: ventureLAB, 3600 Steeles Ave E., Markham, ON

*Attendance is by invite only. Media interviews and lab tours will be made upon request.

To learn more about the Hardware Catalyst Initiative, visit www.venturelab.ca/HCI

ABOUT THE HARDWARE CATALYST INITIATIVE
The Hardware Catalyst Initiative is Canada's first hardware and silicon-focused lab and incubator. Funded in part by the Government of Canada, through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), this competitive program supports companies building foundational technologies that support transformative sectors like AI, quantum computing, 5G, IoT, UAV, virtual reality, and beyond. Over the next five years, the HCI will support up to 40 companies, create over 200 jobs, and commercialize 15 new products and technologies. Based in York Region, Canada's second largest tech cluster, the HCI will help southern Ontario-based tech SMEs accelerate their time to market in a sector that normally incurs lengthy entry and scale times, enabling Canadian hardware and silicon companies to grow and scale locally, and compete globally.

ABOUT ventureLAB
ventureLAB is a leading technology hub located in Markham in York Region, Canada's second largest tech cluster. Through its programs focused on capital, talent, technology, and customers, ventureLAB has supported over 2,000 tech companies and entrepreneurs, including 100 companies that have raised over $100 million and created 3,500 jobs. ventureLAB's innovation hub is a 50,000 square foot facility that is home to over 45 tech companies and partners that employ more than 300 people. At ventureLAB, we grow globally competitive tech titans that build-to-scale in Canada. www.venturelab.ca

About FedDev Ontario
For more than 10 years, FedDev Ontario has actively worked to advance and diversify the southern Ontario economy through funding opportunities and business services that support innovation and growth in Canada's most populous region. The Agency has delivered impressive results, which can be seen in southern Ontario businesses that are creating innovative technologies, improving their productivity, growing their revenues, and in the economic advancement of communities across the region. Read more about the impacts the Agency is having in southern Ontario.

SOURCE ventureLAB

Anne Morello, Senior Media Advisor, NorthPR, [email protected], 647.224.2806; Justine Kintanar, Director, External Relations and Communications, ventureLAB, [email protected], 647.242.8154

Related Links

venturelab.ca