Last week Toronto based MaRS and InnovationQuarter signed an MoU, signifying the start of a collaboration. The two organisations will explore options for seting up a market expansion programme in support of cleantech businesses looking to set foot on the ground in the market accross the ocean.
The common goal of MaRS and InnovationQuarter is to set up a reciprocal program that enables entrepreneurs and innovators in the cleantech space to gain access to the Dutch or Canadian market for companies looking to accelerate their growth in the region across the ocean. This program will assist growth-stage cleantech ventures with market expansion through partnerships and funding opportunities in either the Toronto or the West Holland region.
MaRS works with startups and scale-ups and offers a range of services that help founders increase revenue and fuel their competitive advantage. With an extensive network that spans over 1,200 companies across the country, MaRS can help turn breakthrough ideas into products and services with global impact. MaRS is North America’s largest urban innovation hub occupying 1.5 million square feet in downtown Toronto. It is a diverse community of more than 120 tenants, including research labs and global tech companies, each selected to create a community that is collaborating on real solutions to important problems.
The collaboration will give Dutch companies access to the services of MaRs, such as advisory support and connections to talent, access to investors as well as connections to partners.
InnovationQuarter will assist Canadian cleantech companies in their business expansion into Europe and accelerate their growth. This collaboration should result in a market expansion program similar to previously set up programmes, such as the BOSteRDAM program, which is set up in collaboration with Greentown Labs in Boston. Here foreign companies are offered the opportunity to spend two weeks working in our region, engaging with locals as a local.
The specifics of the collaboration will be determined by both MaRS and InnovationQuarter over the coming months. If your company is considering expansion to the Canadian market, please get in touch, we would be glad to discuss the possibilities the collaboration can offer.
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