The Honourable Ed Fast, Minister of International Trade, is encouraging 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.
“The Canadian Technology Accelerator initiative provides Canadian start-up companies with access to unique resources and contacts to help them expand internationally, ” says Minister Fast.
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.
- 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.