Minister Ng Launches Global Hypergrowth Project Selection Panel To Help Scale Up Canadian Companies And Grow Local Economies
Wednesday, 31 August 2022 10:19.AM
When Canadian companies innovate and grow, they can anchor our communities and sectors of the economy through greater employment, more R&D, faster innovations, support for smaller businesses around them, and increased growth. The Government of Canada is committed to seeing more Canadian companies grow to become anchors—helping to ensure not only that our economy is strong here at home but also that we further develop our trade ties around the world.
Today the Honourable Mary Ng, Minister of International Trade, Export Promotion, Small Business and Economic Development, joined by senior officials from Innovation, Science and Economic Development Canada, hosted the inaugural meeting of the Selection Panel for the Global Hypergrowth Project (GHP).
The Selection Panel, co-chaired by Thomas Park, Lead and Partner of the Business Development Bank of Canada's (BDC) Deep Tech Venture Fund, and John Ruffolo, Founder and Managing Partner of Maverix Private Equity, is made up of notable Canadian business leaders with diverse experience, skills and backgrounds from the public and private sectors. This distinguished group will recommend the firms that will participate in the GHP, which is designed to help take Canada's next anchor firms further, faster.
The GHP will provide direct support to up to 15 Canadian firms, helping them navigate and overcome challenges—like exporting barriers, regulatory challenges and more—in order to accelerate their growth and help create good, local jobs in communities across Canada. Each company will work with a dedicated account executive who will facilitate connections for the company and provide focused attention where it's needed most, especially in the areas of:
• funding
• international expansion
• talent acquisition
• navigating federal regulation
• accessing procurement projects
• mentorship and expertise
In addition to the support of their dedicated account executive, each GHP company will also receive:
• a custom service plan tailored to its individual needs
• facilitated, fast-tracked connections to government support
• expedited application assessments
"Canada wins when cutting-edge companies keep operations, profits and jobs here at home. And when they scale up around the world, they signal that Canada is open for business. With the Global Hypergrowth Project, we're doubling down on Canada's most promising firms, to help them scale up, from here. I look forward to seeing the recommendations from this outstanding group of Canadian business leaders, as we advance economic growth, deliver good local jobs and support the best and brightest Canada has to offer."
– The Honourable Mary Ng, Minister of International Trade, Export Promotion, Small Business and Economic Development
Quick facts
• The Global Hypergrowth Project pilot Selection Panel includes:
• • John Ruffolo (Co-chair), former CEO and Founder of OMERS Ventures, and Founder and Managing Partner of Maverix Private Equity
• • Thomas Park (Co-chair), Lead and Partner of the BDC Deep Tech Venture Fund
• • Todd Burns, President of Cypher Environmental, Member of the Global Clean Technology Advisory Group created by Global Affairs Canada
• • Ian Crosby, former CEO and Co-Founder of Bench, and Product Director at Shopify
• • Arlene Dickinson, prominent venture capital investor
• • Judy Fairburn, Co-Founder, Co-CEO and Fund Managing Partner of The51, former senior executive at Shell, Cenovus, and Encana, former Chair of Alberta Innovates, member of the Board of Directors of Sustainable Development Technology Canada
• • Joanna Griffiths, Founder and CEO of Knix
• • Geneviève Guertin, active investor with over 20 years of venture capital experience in life sciences
• • John Risley, Founder and CEO of Clearwater Fine Foods, Chair of Northern Private Capital, Chair of MDA Corporation, and Chair of Canada's Ocean Cluster
• • David Lisk, Vice-President of the National Research Council of Canada's Industrial Research Assistance Program and experienced as a senior executive and CEO in the private sector (ex officio)
SOURCE: Innovation, Science and Economic Development Canada