The federal government is investing $52.4 million in an innovation network that is expected to create 18,000 skilled jobs in Waterloo, Toronto and Ottawa.

Prime Minister Justin Trudeau announced the funding for the new “Scale-up Platform” program for tech companies at the Communitech technology hub in Kitchener, Ont., on Tuesday.

The federal government says the platform will be the first of its kind in Canada, and it will incorporate the skills of Ontario’s “top innovation hubs”: Communitech, in Kitchener, the MaRS Discovery District in Toronto and Invest Ottawa.

The three will work with tech companies to grow their businesses.

Source: CBC News

Date: April 19th, 2019

Link: https://www.cbc.ca/news/canada/kitchener-waterloo/prime-minister-trudeau-kitchener-tech-hub-announcement-1.5099705

Discussion

1. “”For the first time in decades, we have a crop of scale-ready firms that are on the path to $100 million. Our job — through the Scale-up Platform — is to help those high-growth firms find the talent and capital to accelerate their growth,” said Iain Klugman, President and CEO of Communitech.”  What do you think “scale-ready” means?
2. Why do networks like these work so well for tech-related firms?