Canadian Prime Minister Justin Trudeau announced on 16, April that the federal government is investing $52.4 million in a Scale-Up Platform, which will see Communitech, MaRS Discovery District, and Invest Ottawa come together to support Canadian tech companies. 

This shows the need for the government to partner with organizations to support new technologies, in order to solidify Canada's place as a global leader in innovation. 

The new program will give startups and scale-ups alike new opportunities, create 18,000 jobs, and $11 billion in revenue, as well as attract $4 billion in investment. 

Scale-Up Platform plans to help 30 Ontario companies scale up, with the goal of helping those companies achieve revenues of $100 million or more, by 2024. 

The program will also look to provide services, including advice on accessing capital, talent, and global markets to thousands of other companies, as well as building stronger partnerships with post-secondary institutions. 

The $52.4 million investment is being made by the Government of Canada, through FedDev Ontario. Today's investment is part of the government's Innovation and Skills Plan, which looks to make strategic investments to build “innovation ecosystems in Canada”. Other investments have included the Supercluster initiative, Venture Capital Catalyst, and the Global Skills Strategy. 

The $52.4 million in funding is being given directly to MaRS, Communitech, and Invest Ottawa to help them develop programs providing coaching and advisory services and talent programs to help firms attract and retain top talent. 

Funding will also help add more physical spaces and lab resources for deep tech companies, such as those at Velocity, and Waterloo Accelerator Centre. Additionally, the three hubs will also ensure that innovation centers in smaller communities in Ontario will have access to scale-up programming, advisory services, and support.