Network Impact Report


Overview of CTN's Impact in Fiscal Year 2021

July 2021

About Canada's Tech Network

Established in 2009, Canada’s Tech Network started as a grassroots effort to do something no one else was – connecting tech ecosystems across the country. Now we connect 27 leading innovation hubs from St. John’s to Vancouver and Whitehorse. Each hub is the backbone organization in its regional ecosystem. They provide entrepreneurs and small- to mid-sized tech companies with co-working space, mentorship, training, peer learning, exposure to funding/venture capital and more, while accelerating their ability to sell into international markets.

The hubs

Number of hubs: 27
Total hub employees: 671
Clients with desk space: 693

Advisory services

Canada’s Tech Network Hubs provide a variety of assistance to companies, customized to different stages of growth and local ecosystems.

Clients served: 6,208
Startup: (0–19 employees): 5,044
SMEs (20–499 employees): 917
Enterprise (500+ employees): 247
Number of new startups created across the network: 2,250
Mentors accessible to clients: 424
Total mentor hours: 73,598

Program highlights

Soft Landing: Scale from Home

  • 152 companies participated, generating $6.5M+ in revenue, raising $1.3M+ in capital and creating 22 new jobs. 


Hub Facing: Hub Meeting

  • 209 hub staff attended two virtual hub meetings.

96% of Hubs launched new programs or services
77% of Hubs collaborated to deliver programs or services

Client company outcomes

Total VC investment: $3.4 Billion
Total angel investment: $121.2 Million
Total foreign investment: $165.1 Million
Total clients acquired: 53
Total value of acquisition disclosed: $1.8 Billion
JJobs created by client companies: 10,210

Top 3 client pain points

  • Financing, funding and captial
  • Talent acquisition and retention
  • International sales and market expansion

Data source: Canada's Tech Network 2021 Hub Survey

About The Canadian Digital Media Network

Canada’s Tech Network (formerly known as the Canadian Digital Media Network) is a network of 27 regional innovation hubs across Canada, all focused on supporting Canada’s technology entrepreneurs. Designated a federal Centre of Excellence in Commercialization and Research, Canada’s Tech Network is dedicated to establishing Canada as a world leader in the digital economy.

More than a group of business accelerators and incubators, Canada’s Tech Network is a community of backbone organizations within regional innovation ecosystems across the country. Each Hub provides physical space, mentorship, advice and expertise to directly support Canadian firms. Network members help tech SMEs to access talent, investment capital and global market opportunities.