Export hub links SW Ontario firms to international opportunities
Export Development Canada (EDC) has opened its Export Growth Hub within Catalyst 137, offering companies in the region a space to learn, network, and collaborate on international trade opportunities with exporters and business partners in Southwestern Ontario. The Kitchener Ontario-base office will officially open for business on November 1, 2018.
“This is a very exciting place to be right now,” said Stephen Callaghan, VP of EDC’s Ontario Region. “This region is home to so many incredibly innovative Canadian companies. They have the technology, products, and services to become global champions; what EDC can provide is the knowledge, connections, and financial solutions to help them grow their business outside our borders.”
Ontario’s high-tech hub
The economic makeup of Southwestern Ontario has undergone significant change in recent years, as a bourgeoning technology sector has emerged alongside the traditional manufacturing sector in the region, helping to strengthen it. The Toronto – Waterloo corridor has been at the centre of this transition, with some of Canada’s most innovative technologies based in this part of the country.
Catalyst 137 is one of the world’s largest spaces devoted to internet of things (IoT) hardware companies. The mission of the space is to help hardware start-ups get their products to market as quickly as possible – and in our increasingly globalized economy, the ‘market’ equates to the world.
EDC estimates there are 5,000 exporters in the broader region who will be supported by its new office. These are companies of all shapes and sizes, spanning a variety of sectors. Given the heavy tech presence in the region, the potential for trade-related business growth is expected to be particularly strong in sectors such as clean technology, IoT, and software as a service (SaaS).
“We know there are a number of micro-, small- and medium-sized enterprises in the region looking for solutions to help them scale globally,” said Callaghan. “The EDC Export Growth Hub will be that catalyst, helping equip companies with what they need to go, grow and succeed internationally.”
Help more companies get the support they need
In addition, the presence of major financial institutions in the region will allow EDC to help more companies get the support they need. EDC has a partnership preferred philosophy and works with the banking partners of exporters to help ensure they can access the financial solutions best suited to their needs.
This initiative is part of EDC’s broader growth strategy, domestically and abroad, to help more Canadian companies than ever before export and invest internationally.
“Growing a business, especially through international trade may be exciting, but it can also scare some companies because of the risks,” said Benoit Daignault, EDC’s Chief Executive Officer. “EDC makes international trade safer by managing and taking on the risk so our entrepreneurs can focus on achieving success internationally.”