ventureLAB Marks Five Years of the Hardware Catalyst Initiative, Canada’s First and Only Incubator for Hardware and Semiconductor Startups

MARKHAM, Ontario--(BUSINESS WIRE)--ventureLAB is celebrating five years of the Hardware Catalyst Initiative, Canada’s first and only incubator dedicated to hardware and semiconductor startups. Launched in 2019 with an initial unprecedented $5 million investment from FedDev Ontario, this initiative has transformed Canada’s HardTech sector by strengthening supply chains, fostering groundbreaking innovation, and propelling startups in MedTech, artificial intelligence, automotive technology, and advanced manufacturing.

A Transformative Impact on Canada’s HardTech Sector
Since its launch, the Hardware Catalyst Initiative has supported 95 startups, creating 728 jobs and enabling these companies to raise $82 million in capital. By providing founders with industry-leading resources, mentorship, and corporate partnerships, this initiative has become a driving force in Canada’s semiconductor and HardTech ecosystem.

“Five years ago, Canada’s hardware startups lacked the infrastructure to compete globally. The Hardware Catalyst Initiative was created to bridge that gap, and today, it stands as a foundation for the country’s growing HardTech sector,” said Avinash Persaud, VP of the Hardware Catalyst Initiative and Head of Semiconductor Initiatives at ventureLAB. “With support from FedDev Ontario and an expanding network of global partners, we are building a future where Canada is recognized as a global leader in semiconductor and hardware innovation.”

Strengthening Canada’s Intellectual Property Leadership
Intellectual property has always been at the heart of hardware innovation. Hardware startups consistently generate more patents than other sectors within technology, making IP protection critical to their success. To support this, ventureLAB established a dedicated intellectual property department within the Hardware Catalyst Initiative, led by a former Canadian patent office member. This initiative has helped startups navigate the complexities of patenting, leading to a significant rise in Canadian IP filings and commercialization efforts on a global scale.

Expanding Impact: MedTech, AI, and Automotive Innovation
The Hardware Catalyst Initiative has grown into a leading force for hardware innovation across multiple industries. The MedTech Lab, launched in collaboration with Sterling Industries, equips startups with industry-standard tools for microelectronic hardware development in medical, biological, and agricultural applications. The initiative continues to accelerate AI semiconductor advancements, supporting companies developing next-generation computing solutions. As a Regional Technology Development Site with the Ontario Vehicle Innovation Network, the program is also at the forefront of intelligent transportation and smart mobility solutions, positioning Canada as a leader in automotive innovation.

A Growing Global Network of Industry Leaders
Collaboration has been key to the success of the Hardware Catalyst Initiative. Since its inception, ventureLAB has partnered with industry leaders such as TSMC, AMD, and Siemens, forming a powerful global network that provides founders with access to critical tools, market insights, and commercialization opportunities. These partnerships have enabled Canadian startups to move from concept to market, reinforcing the country’s leadership in HardTech innovation on a global scale.

Looking Ahead: The Future of HardTech in Canada
Before the global push to re-shore semiconductor manufacturing and the rise of AI semiconductors, FedDev Ontario saw the need to strengthen Canada’s hardware sector. In June 2019, they strategically invested in the Hardware Catalyst Initiative, positioning Markham—home to over 1,500 tech companies—as a hub for next-generation HardTech innovation. The result? A cutting-edge lab and ecosystem driving Canada’s HardTech leadership. The outcome of this investment was not simply the creation of the lab; it fostered a comprehensive ecosystem that continues to drive Canada’s HardTech leadership today. This investment continues to pay dividends, fostering a comprehensive ecosystem that not only drives Canada’s HardTech leadership today but will continue to build even greater value for the country in the years to come. The impact of this initiative has been nothing short of transformative, with its foundational investment leading to significant accomplishments across various sectors.

Applications for the Hardware Catalyst Initiative are now open, visit our website