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Canadian Technology Accelerator Program
Leveraging the CTA Technology Accelerator Model: Supporting Atlantic Canada's Participation in the Canadian Technology Accelerator Program in the United States
Over the past 3 years, the Canadian Consulates in the U.S. have successfully established technology accelerator programs (CTAs) in California, New York, Pennsylvania and Colorado, with the specific goal of enhancing the success of Canadian technology companies when attempting to enter the U.S. market.
The CTAs have been very successful from a national perspective; with a total participation of more than 250 companies to date. In contrast, the level of participation from Atlantic Canada has been less than 10%. It is expected that the newest CTA location, CTA@Boston, will generate a higher level of interest and demand amongst the region's advanced technology sectors.
The CTA Program has accelerated the growth of over 250 Canadian companies seeking to enter the U.S. market, without the high level of risk that pursuing these markets alone typically requires. Based in the world's top centers technology innovation and entrepreneurship, the CTAs have proven to be successful launch pads for numerous Canadian companies.
The CTA Program: Overview
The Department of Foreign Affairs and Trade Development (DFATD) supports the CTA program in 5 states across the U.S. Each CTA program is strategically located within a top-rated technology accelerator facility, with a 3 to 6 month tenancy provided to participants upon acceptance into the program.
Canadian companies selected for placement in the CTA Program are engaged in an intensive mentorship program within the accelerator, and receive workspace, advisory, and connection services facilitated and covered by the Consulate. Participating companies are responsible for travel, legal status in the US, living and lodging expenses while in the CTA program.
The Canadian Trade Commissioner Service manages the Canadian Technology Accelerators (CTA) in New York, San Francisco & Silicon Valley, Boston, Denver and Philadelphia, global clusters for technology and entrepreneurship. This initiative provides those Canadian start-ups in information and communication technology, digital and social media, gaming, clean technologies, and life sciences with access to unique resources and contacts that can accelerate their international growth.
The CTAs make available free office space for three to six months where physical offices are located within existing business incubators. The CTAs help companies to refine their business model, collect competitive intelligence, pursue key clients, access financing sources, and engage strategic partners.
For more information on the CTA Program, including the benefits of participating, success factors for participants, eligibility, and program locations, please click here or contact Natasha Hudson, Business Development Executive, NATI.