Lazaridis ScaleUp program companies have surpassed $1 billion in new capital raised. The milestone represents the collective achievements of 62 participating companies since the program began in 2016 at the Lazaridis Institute for the Management of Technology Enterprises at Wilfrid Laurier University.
“The Lazaridis Institute is unequivocally and emphatically fulfilling its mission,” said Micheál Kelly, dean of the Lazaridis School of Business and Economics. “We set out to increase Canada’s prosperity by helping Canadian tech entrepreneurs scale and compete internationally. One billion dollars in funding represents a lot of scaling.”
Lazaridis companies represent some of Canada’s leading scale-ups in sectors ranging from medical devices and green tech to software and marketplaces. Lazaridis ScaleUp is a national program, as evidenced by ScaleUp alumni companies that have recently attracted significant funding. Those companies include Symend in Calgary, Maple and Essential Accessibility in Toronto, Vendasta in Saskatoon, and Terramera in Vancouver. Thirty-four per cent of Lazaridis ScaleUp companies are founded by women.
Lazaridis ScaleUp participants have attracted investments from high-profile Canadian venture capital investors, top-tier U.S. investors and global strategic investors. Prominent individuals including Markus Frind, Michelle Romanow and Mark Cuban have also invested in Lazaridis ScaleUp companies.
The Lazaridis Institute was established in 2015 with the generous support of Mike Lazaridis and the Ontario government. The Lazaridis ScaleUp program was launched in 2016 to help high-potential Canadian companies transition from founder-led organizations to scalable businesses that can successfully compete in global markets. Lazaridis ScaleUp is a non-profit and does not charge fees or take equity from participating companies.
“We’re honoured to work with these brilliant and ambitious companies,” said Kim Morouney, managing director of the Lazaridis Institute. “More than $1 billion in investment in under five years is a strong indication that Canadian scale-ups, with the right support, have the ability to successfully compete anywhere in the world.”