A message from Foresight CEO Jeanette Jackson:
“This collective is setting an ambitious target for scaling Canadian 25 cleantech ventures to $1 billion valuations by ensuring frictionless supports and programs are in place. If there was ever a time to be bold, this is our time. It will take relentless effort and collaboration to get us here. Let’s seize this challenge together!”
Four partners – Apexe Global (a Startup Genome initiative), Climate Ventures (a joint initiative of the Centre for Social Innovation and Foresight Cleantech Accelerator Centre), Cycle Momentum, and Foresight – have joined forces to launch a new program that will help emerging cleantech ventures rapidly grow and scale.
Canada’s National Cleantech Scale-up Program will provide coaching and training to address the need for more scale-ups in cleantech – companies that have already launched and are poised for growth through accessing global markets, raising capital, and expanding their teams.
The goal of Canada’s Cleantech Scale-up Program is to enable the creation of 25 problem-driven climate ventures valued at $1 billion each by 2030. Specifically, the program will:
- Accelerate the number of and growth of participating Canadian cleantech scale-ups
- Develop senior talent capacity in Canada for international scale-up and market building
- Increase sales and exports of Canadian climate technologies, products, and services globally
- Foster diversity, equity, and inclusion across all cleantech sectors and industries
- Nurture the next wave of high-potential cleantech ventures
Canada’s National Cleantech Scale-up Program builds on the partners’ respective successes in accelerating the growth and impact of cleantech in Canada. Foresight’s Grow program, which provides tailored support to help ventures address critical challenges so they can scale their business, has led 31 companies to total revenues of $222M, created nearly 500 new jobs, and supported capital raises of $429M in the past two years. Climate Ventures’ accelerator programs have supported cleantech ventures at every stage of their journey through hands-on programming and expert advice. Cycle Momentum’s network of cleantech investors and local mentors with entrepreneurial experience in the sector add additional strength and credibility to this initiative. Apexe’s global network counting 1,200 mentors and track record of increasing the exports of scale-up participants by 235% within 18 months.
Discussions are underway with additional partners across Canada to join this initiative and provide scale-up support to ventures in their networks.
Applications for Canada’s Cleantech Scale-up Program will be announced soon, subject to funding.
About Canada’s National Cleantech Scale-up Program partners:
- Apexe Global is the premier hypergrowth and global sales program for late-stage startups, building the skills and global business network of local executives so they can create and sustain accelerated growth towards becoming global category leaders.
- Climate Ventures fast-tracks the success of entrepreneurs and innovators developing and implementing solutions to the climate crisis. A joint initiative of the Centre for Social Innovation and Foresight Canada, we collaborate with innovators, investors, industry, government and academia to solve challenges and scale solutions.
- Cycle Momentum, part of the Cycle Capital group, offers entrepreneur training workshops, networking sessions and mentorship, and collaborates with established companies to stimulate technology acquisition and integration through open innovation programs.
- Foresight is Canada’s cleantech accelerator. Foresight supports innovators through strategic relationships with industry, investors, government, and academia to address today’s most pressing climate issues and accelerate the global transition to a green economy.