Lazaridis Institute’s ScaleUp Program accepts largest cohort of tech companies

Oct. 14, 2020
For Immediate Release

Waterloo - The Lazaridis Institute for the Management of Technology Enterprises, part of the Lazaridis School of Business and Economics at Wilfrid Laurier University, has selected 13 of Canada’s highest-potential growth-stage tech companies for the sixth cohort of the Lazaridis ScaleUp Program.

The Lazaridis Institute supports Canada’s tech sector through research and programs focused on growth and innovation and its ScaleUp Program helps companies accelerate their growth through mentorship, intensive workshops and access to a global network of experts.

“It’s safe to say we didn’t anticipate bringing in our biggest cohort ever this year,” said Kim Morouney, managing director of the Lazaridis Institute. “The quality of companies that applied was just phenomenal. Canadian entrepreneurs have clearly taken up the challenge, pivoting, building and thriving as they focus on customers’ changing needs.

“Our selection panel, which included prominent venture capitalists and the ScaleUp Program’s chief mentors, struggled mightily to make the final decision,” said Morouney. “The applicants were so good we didn’t want to turn any of them away. These companies are poised to dominate their industries.”

The final 13 companies cover a range of sectors, including medical devices, enterprise software, biotech, consumer products, food tech, Internet and artificial intelligence:

• BlueDot, Toronto
• Diva International, Kitchener
• Evidence Partners, Kanata
• FISPAN, Vancouver
• Flashfood, Toronto
• HiMama, Toronto
• Nanoleaf, Toronto
• ODS Medical, Montreal
• O2 Industries, Kitchener
• ProteinQure, Toronto
• RVezy, Ottawa
• SkyHive, Vancouver
• Tehama, Ottawa

Applicants to the Lazaridis ScaleUp Program hailed from as far away as Prince George and Kelowna in B.C. to Fredericton, N.B., and St. John’s, Nfld. Despite Canada’s economic challenges, innovative tech companies are thriving in large and small centres from coast to coast.

The Lazaridis ScaleUp Program supports the growth of companies through mentorship, workshops and a global network of experts. The 50 companies in the first five ScaleUp Program cohorts have accessed $600 million in capital in less than four years and created more than 2,088 jobs. Recent raises include Maple (Toronto) $75 million, Symend (Calgary) $73 million, Validere (Toronto) $20 million and eSSENTIAL Accessibility (Toronto) $20 million.

ScaleUp Program Cohort 6 will kick off in a virtual format due to travel and gathering restrictions. Over the next 12 months, the group will meet virtually — until gathering restrictions are relaxed — for workshops led by some of the world’s most successful tech executives and experts. Past workshop topics have included growth and valuation for Canadian scaleups, next-level product development, global marketing and growth SEO. The Lazaridis ScaleUp Program is sponsored by Borden Ladner Gervais, Wilson Sonsini Goodrich & Rosati, Deloitte and Boast AI.