April 19, 2016
For Immediate Release
WATERLOO – The Lazaridis Institute for the Management of Technology Enterprises at Wilfrid Laurier University today announces collaborations with Deloitte Canada and with TMX Group Limited to help deliver on the mandate of the Lazaridis Institute to support Canadian technology companies with the tools, knowledge, and networks to scale rapidly into globally competitive enterprises.
The Canadian technology startup scene has been thriving for years. Many small but fast-growing companies are emerging in technology hubs across the country, with the highest density of startups in Waterloo. Too few, however, have scaled into the high-growth enterprises that are necessary for net job creation and economic growth. The mandate of the Lazaridis Institute is to help firms catalyze their growth and thus strengthen Canada’s economy.
Recent Lazaridis Institute research found that reaching a globally competitive scale in the fast-moving technology sector requires executive leadership that understands how to grow sales, manage operations, access new markets and build appropriate organizational structures in a dynamic and global marketplace. Such talent is in short supply in Canada, largely due to a lack of anchor technology companies. These large-scale, fast-growth firms create experienced managers who are key to the success of the next generation of Canadian tech companies. With the support of organizations such as Deloitte and TMX Group, the Lazaridis Institute is positioned to be a global leader in connecting CEOs and company founders with the resources to empower them to develop and implement their own plans for growth.
Both Deloitte and TMX Group will provide expertise to support research, tools, peer-to-peer connections, and the collaborative networks being developed by the Lazaridis Institute. The Lazaridis Institute is undertaking research to provide insights into the challenges facing the Canadian technology sector and, specifically, those tech firms that are scaling up. An assessment tool will be developed to identify the potential for scale-up success among Canadian firms. CEOs of high-potential firms will be given access to a peer-to-peer council, visiting global experts, mentoring, and individual coaching on their scale-up plans.
“Deloitte research shows that fast-growing firms are job creators, so we are proud to join the Lazaridis Institute and the TMX Group to support small fast-growing technology companies here in Canada,” said Peter Barr, managing partner for Waterloo Region, Deloitte. “Together we will provide the right mix of resources to help these companies maintain their trajectory and scale-up to become important drivers of our economy.”
”We are very excited and honoured to be a part of this mandate,” said Nick Thadaney, president and chief executive officer, Global Equity Capital Markets, TMX Group. “Our Exchanges are proud to be home to some of Canada’s most innovative technology companies, and through this initiative we will continue to support a strong and vibrant Canadian technology and innovation sector.”
“These exciting relationships will help accelerate the development and roll-out of programs within the Lazaridis Institute by leveraging the strong corporate brands of both Deloitte Canada and TMX Group, and their experience in working with Canadian technology companies,” said Micheál Kelly, dean of the Lazaridis School of Business & Economics at Wilfrid Laurier University. “Together, we will be able to take an in-depth look at what it will take for Canadian companies to compete in the tech industry on a global scale.”
The Lazaridis Institute is hosting a networking reception in Toronto on April 19 to provide more insight into these relationships and information on next steps for the Lazaridis Institute. For more information please contact LazaridisInstitute@wlu.ca or visit lazaridisinstitute.com.
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