In the face of the global chip shortage, Canada’s only lab and incubator for the development and commercialization of hardware and semiconductor solutions, ventureLAB Hardware Catalyst Initiative (HCI), has received $4.73 million in additional funding from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) to expand its scope.
The funds will allow the lab to virtualize and expand its testing capabilities, extending its reach beyond Ontario and supporting innovators across the country.
“In 2019, this industry generated $210 billion of revenue. And today, in light of COVID-19 and the rapid digital transformation that the pandemic has prompted, we know that the sector is only going to grow, and it’s going to help us build a more resilient, a more sustainable, and a more digital economy,” said the Honourable Mary Ng, Minister of Small Business and Export Promotion and Member of Parliament for Markham–Thornhill during the funding announcement. “And
/CNW/ - Today, new funding from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) was announced to bring emerging tech companies in.