Canadian and U.S. clean technology start-ups will have greater opportunities to collaborate and innovate on both sides of the border. Thanks to a memorandum of understanding signed today between the Toronto-based MaRS Discovery District and Greentown Labs in Boston, Massachusetts, these two leading innovation accelerators will work together to help clean tech ventures and start-ups innovate and expand in both markets and around the world.
The Honourable Bardish Chagger, Leader of Government in the House of Commons and Minister of Small Business and Tourism, participated in the signing ceremony. During her remarks, the Minister emphasized the importance of strengthening business and innovation ties between the United States and Canada.
“I am pleased to be part of today's important announcement between MaRS and Greentown. Working together to solve our planet's most persistent climate challenges is not only good news for Canadian and American start-ups but also an important demonstration of the innovative potential that is possible when our companies collaborate. Clean technology, in particular, is incredibly important for the future of Canada's economic and environmental success.”
– The Honourable Bardish Chagger, Leader of Government in the House of Commons and Minister of Small Business and Tourism
MaRS and Greentown will offer space to entrepreneurs seeking to enter their respective regions, as well as helpful information about the local market, among other services.
This partnership is one of several of its kind that MaRS has signed in the U.S. northeast to help Canadian clean tech companies boost exports to U.S. markets. By working with partners like MaRS and encouraging these relationships, the Government of Canada is helping to boost made-in-Canada innovation and to grow the economy for the benefit of all Canadians.
“MaRS works with many Canadian clean tech ventures that see Massachusetts and other parts of the U.S. northeast as strategic markets, partly because of the progressive clean energy policies coming out of the region. Partnering with a well-respected, expert organization like Greentown Labs will help our companies plant roots in the Bostonarea, and it complements similar partnerships recently announced in New York City that are giving our ventures more opportunities in an important economic region.”
– Salim Teja, President, Venture Services, MaRS Discovery District
- Greentown Labs, the largest clean tech incubator in the United States, will host Canadian clean tech companies considering expansion into the Massachusetts market. Likewise, MaRS will host Greentown ventures considering expansion into Canada.
- MaRS and Greentown will collaborate on events that expose their ventures to key investors and potential customers.
- To help clean technology firms grow, the Government of Canada's Innovation and Skills Plan includes investments of nearly $1.4 billion in new financing on a cash basis, starting in 2017–18.