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Minister Ng launches Global Hypergrowth Project Selection Panel to help scale up Canadian companies and grow local economies

·3 min read

TORONTO, Aug. 26, 2022 /CNW/ - Innovation, Science and Economic Development Canada

When Canadian companies innovate and grow, they can anchor our communities and sectors of the economy through greater employment, more R&D, faster innovations, support for smaller businesses around them, and increased growth. The Government of Canada is committed to seeing more Canadian companies grow to become anchors—helping to ensure not only that our economy is strong here at home but also that we further develop our trade ties around the world.

Today the Honourable Mary Ng, Minister of International Trade, Export Promotion, Small Business and Economic Development, joined by senior officials from Innovation, Science and Economic Development Canada, hosted the inaugural meeting of the Selection Panel for the Global Hypergrowth Project (GHP).

The Selection Panel, co-chaired by Thomas Park, Lead and Partner of the Business Development Bank of Canada's (BDC) Deep Tech Venture Fund, and John Ruffolo, Founder and Managing Partner of Maverix Private Equity, is made up of notable Canadian business leaders with diverse experience, skills and backgrounds from the public and private sectors. This distinguished group will recommend the firms that will participate in the GHP, which is designed to help take Canada's next anchor firms further, faster.

The GHP will provide direct support to up to 15 Canadian firms, helping them navigate and overcome challenges—like exporting barriers, regulatory challenges and more—in order to accelerate their growth and help create good, local jobs in communities across Canada. Each company will work with a dedicated account executive who will facilitate connections for the company and provide focused attention where it's needed most, especially in the areas of:

  • funding

  • international expansion

  • talent acquisition

  • navigating federal regulation

  • accessing procurement projects

  • mentorship and expertise

In addition to the support of their dedicated account executive, each GHP company will also receive:

  • a custom service plan tailored to its individual needs

  • facilitated, fast-tracked connections to government support

  • expedited application assessments

Quote

"Canada wins when cutting-edge companies keep operations, profits and jobs here at home. And when they scale up around the world, they signal that Canada is open for business. With the Global Hypergrowth Project, we're doubling down on Canada's most promising firms, to help them scale up, from here. I look forward to seeing the recommendations from this outstanding group of Canadian business leaders, as we advance economic growth, deliver good local jobs and support the best and brightest Canada has to offer."
– The Honourable Mary Ng, Minister of International Trade, Export Promotion, Small Business and Economic Development

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SOURCE Innovation, Science and Economic Development Canada

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View original content: http://www.newswire.ca/en/releases/archive/August2022/26/c5300.html