The Government of Canada recently announced that $17 million would be made available for small-to-medium enterprise (SME) echnology companies (including Cleantech) to assist in exports.
The $17 million will be used to expand the successful Canadian Technology Accelerator (CTA) program and will be distributed to eligible companies over a five year period.
About the CTA Program
The Canadian Technology Accelerator (CTA) is a program of the Canadian Global Affairs Canada’s Trade Commissioner Service. It offers high-intensity programming that helps selected high-growth, high-potential Canadian technology firms scale up by connecting them with export, investment and partnership opportunities in global innovation centres. Over the course of a four- to six-month program, CTA participants are provided with tailored support ranging from in-market working space and coaching to market validation and introductions to potential partners, clients and investors.
Since 2013, the CTA program has helped over 500 Canadian technology companies accelerate their growth by gaining a foothold in key U.S. innovation centres. Since 2013, the program has achieved notable success in Boston, New York and San Francisco. An investment of $2 million a year has been leveraged into $510 million in capital raised, $190 million in new revenue, 996 strategic partnerships and 2,125 new jobs for 489 high-growth, high-potential firms in key technology sectors, such as information and communications technology, life sciences and clean-tech.
Canadian SME Cleantech Leaders
There are many examples of SME clean tech companies in Canada. Of the recent Global Cleantech 100 companies listed by the Cleantech Group, 12 are from Canada. The Canadian companies on the Global Cleantech 100 list are as follows:
- Axine Water Technologies – Created a new standard for treating toxic organic pollutants in industrial wastewater, solving a global problem for pharmaceutical, chemical and other manufacturing industries. Vancouver, B.C.
- CarbonCure – Retrofits concrete industry plants with a technology that recycles waste carbon dioxide to make affordable, greener concrete products. Halifax, N.S.
- Cooledge Lighting – Provides adaptable LED lighting solutions to help the design industry integrate light into the built environment. Richmond, B.C.
- ecobee – Empowers people to transform their lives, homes, communities and planet through innovative technologies that are accessible and affordable. In 2007, ecobee introduced the world’s first smart Wi-Fi thermostat to help millions of people save energy and money without compromising comfort. Toronto, Ont.
- Enbala – Provides the advanced technology needed to ensure the operational stability of the world’s power grids by harnessing the power of distributed energy. Vancouver, B.C.
- GaN Systems – Manufactures a range of highly efficient transistors that address the needs of various industries, including renewable energy systems, data centre servers, automotive systems, industrial motors and consumer electronics. Ottawa, Ont.
- Inventys – Commercializes a low-cost and energy efficient technology for capturing post-combustion CO₂ from various sources, such as natural gas boilers, gas turbines, and industrial facilities, such as cement plants. Burnaby, B.C.
- Metamaterials Technologies – Develops smart materials and photonics to provide solutions in the field of optics for several industries, including aerospace and defence, healthcare, energy, education, and cleantech. Dartmouth, N.S.
- MineSense Technologies – Improves the ore extraction and recovery process to significantly increase profitability and decrease requirements for energy, water and chemicals. Vancouver, B.C.
- Opus One Solutions – Developed GridOS®, an intelligent data analytical platform for smart grids that delivers optimal energy planning and management to generate, distribute, store and consume energy in a distributed network, paving the way toward a distributed energy economy. Toronto, Ont.
- Semios -Develops agricultural technology innovation involving precision agriculture, biological pest control and data management. Vancouver, B.C.
- Terramera – Uses technology to replace synthetic chemical pesticides with high-performance, plant-based pest control products for agricultural and consumer use. Vancouver, B.C.
The cleantech global market is estimated to be worth US$1 trillion and expected to surpass the US $2.5 trillion by 2022.
Latest Funding Allocation
The additional $17 million in funding will allow the expansion of CTA programming to global innovation centres: Berlin, Delhi, London and Mexico City. 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.
Who is Eligible and How to Apply
CTAs are open to innovative Canadian tech companies that can demonstrate:
- Traction in the Marketplace: You have at least a minimum viable product (MVP), along with quantifiable evidence of maturity (revenue, investment, or number of users).
- Product Market Fit: You can define your target audience, articulate the problem you solve, and demonstrate differentiation of your product/service.
- Strong & Experienced Executive Management Team: You can commit to send at least one senior member (C-level or Founder) to take part in the program and have the financial resources to cover in-market costs.
- Potential to Scale: You have a well thought out go-to-market plan for the CTA location along with KPIs to match.
Participants are chosen in a competitive process. The Trade Commissioner Service and a panel of industry experts review the applications and decide whether applicants are eligible and a good fit for a location.
If you are chosen a CTA team members will contact you. Companies must be ready to commit the time and money needed for their executives to live full time in the target location.
For more information on how to apply, visit the CTA website.