Overview of CTN's Impact in Fiscal Year 2022
June 2022
About Canada's Tech Network: Vital innovation infrastructure
Established in 2009, Canada’s Tech Network started as a grassroots effort to connect Canada’s dispersed tech ecosystems. Today, the Network connects 27 leading innovation and commercialization hubs from St. John’s to Vancouver to Whitehorse. The Network provides entrepreneurs and firms of all sizes with space, mentorship, training, peer learning and access to capital networks while connecting them to revenue-generating opportunities.
The Hubs
Number of Hubs: 27
Total Hub employees: 699
Clients with desk space: 616
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: 6,960
Startup: (0–19 employees): 5,635
SMEs (20–499 employees): 1.017
Enterprise (500+ employees): 308
Number of new startups created across the network: 2,803
Mentors accessible to clients: 571
Total mentor hours: 78,487
Program highlights
Soft Landing: Scale from Home
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- 114 companies participated, generating $4.4M+ in revenue, raising $8.8M in capital, creating 105 new jobs, and adding $57M to revenue and investment pipelines.
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Hub meetings
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- 66 staff from 19 hubs attended our annual virtual hub meeting. 531 hub staff attended 45 virtual peer group meetings.
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92% of Hubs launched new programs or services
80% of Hubs collaborated to deliver programs or services
Client company outcomes
Total VC investment: $6.1 Billion
Total angel investment: $212.7 Million
Total foreign investment: $527.1 Million
Total clients acquired: 31
Total value of acquisition disclosed: $281 Million
Jobs created by client companies: 10,578
Top 3 client pain points
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- Financing, funding and captial
- Talent acquisition and retention
- International sales and market expansion
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Data source: Canada's Tech Network 2022 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.