Canada Announces C$17M in Funding to Help Tech Firms Expand into Global Markets

Parliamentary Secretary to the Minister of International Trade Diversification, Omar Alghabra, has announced C$17 million over five years to expand the Canadian Technology Accelerator (CTA) program as part of Canada’s commitment to help small and medium-sized enterprises expand and diversify their exports. The funding will allow the expansion of CTA programming to global innovation centres: Delhi, Mexico City, London, and Berlin. This builds upon the recent expansion of the CTA to four Asian cities (Hong Kong, Taipei, Tokyo and Singapore), funded as part of Budget 2018’s commitment to strengthen Canada’s diplomatic and trade support presence in Asia. Since the program was established, the CTA has resulted in $510 million in capital raised, $190 million in new revenue, 996 strategic partnerships and 2,125 new jobs for 489 small, high-potential, high-growth firms in key technology sectors (information and communications technologies, life sciences, and clean-tech), the Government said in a release.

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