VentureLAB And Silicon Catalyst Partner To Expand Silicon Ecosystem
ventureLAB has announced that it has partnered with Silicon Catalyst to expand its reach for the Hardware Catalyst Initiative (HCI), Canada's first hardware and silicon lab and incubator. Silicon Catalyst is the world's only incubator focused exclusively on accelerating solutions in silicon, offering a coalition of in-kind and strategic partners to dramatically reduce the cost and complexity of development.
With a world-class network of mentors to advise startups, Silicon Catalyst is helping new semiconductor companies address the challenges in moving from idea to realization. The incubator/accelerator supplies startups with a path to design tools and silicon devices, as well as offering networking opportunities and access to funding, banking and marketing acumen to successfully launch and grow their companies' novel technology solutions.
According to the Semiconductor Industry Association, the global semiconductor industry generates $7 trillion in economic activity, creates 4.89 indirect new jobs for every one semiconductor job, and enables the development of breakthrough products like smart energy, autonomous vehicles, and innovative healthcare solutions. Canada is a leader for creating and scaling IP-rich semiconductor and hardware companies and a magnet for home-grown and global talent.
The new partnership will expand the HCI's expert network to support hardware and silicon start-ups and scale-ups building and commercializing transformative solutions in healthcare, telecommunications, advanced computing, connected transportation and smart energy. This expanded support will also help the HCI deliver its mission to accelerate commercialization and reduce cost of development for emerging hardware and silicon leaders who are Built-to-Scale from Canada and go global.
“We are delighted to partner with Silicon Catalyst as the reach of the Hardware Catalyst Initiative expands coast-to-coast and around the world,” said Melissa Chee, President and CEO, ventureLAB. “Canada is a recognized leader for creating and scaling IP-rich semiconductor and hardware-based companies and a magnet for home-grown and global talent. We are excited to collaborate with Silicon Catalyst in our collective bold vision to enable Canada's pioneering tech founders scale in the global innovation economy.”
“Our mission is to provide early-stage entrepreneurial teams with the strongest possible foundation for business growth,” stated Rick Lazansky, co-founder and Chairman of Silicon Catalyst. “Through our collaboration with the ventureLAB technology hub and it's Hardware Catalyst Initiative, these startups will gain access to critically important tools, services and in-depth semiconductor industry expertise uniquely available from our ecosystem.”