Building global tech titans
City of Markham: ventureLab
If you’ve ever assembled a computer, you’ve probably heard of ATI Technologies. The company caught Silicon Valley’s attention in the early 2000s with its blazing-fast GPUs—graphics cards that let computers produce eye-popping visuals and made devices like the Xbox 360, Nintendo Wii and the MacBook Pro possible.
ATI captured a leading share of the GPU market, beating out better-financed rivals like NVIDIA and reaching annual revenues of more than $2.2 billion in the process. But maybe the most impressive thing about ATI’s ascent is that they did it all without setting foot in Silicon Valley.
From the moment Chinese-Canadian immigrant Kwok Yuen Ho founded the company in 1985 with a bank loan, to when it was acquired by AMD in 2006, ATI Technologies kept its research and development and head office in the City of Markham, located on the northern boundary of Toronto. For the past 13 years, AMD has continued to invest and grow its operations in Markham.
“I think the AMD story demonstrates just how prevalent the entrepreneurial and innovation spirit is here in Markham,” says Markham Mayor Frank Scarpitti. “Transformative technologies, global talent and a free flow of ideas are at the core of Markham’s thriving ecosystem.”
For Melissa Chee, a Markham resident who helped build a successful semiconductor startup, ATI’s story captures what Markham is all about: world-class talent, entrepreneurial spirit, and a drive to think and act big.
A local launchpad to global markets
Today, Chee is president and CEO at ventureLAB , the leading tech hub for Markham and the surrounding York Region. Its mission? Help local startups scale and build the next generation of globally competitive tech titans.
ventureLAB has supported more than 2,000 tech companies since it was founded in 2011, offering advisory services and access to its 50,000-square-foot innovation hub in the IBM Innovation Space-Markham Convergence Centre. Today, the innovation hub houses nearly 50 tech companies.
ventureLAB’s Capital Investment Program, which helps connect companies to capital from the private and public sector, has helped ventureLAB startups raise more than $100 million in funding.
“This community is about building global-scale enterprises. We’re not talking about startups going for a fast exit,” emphasizes Chee. “We’re talking about startup founders who have the knowledge and the acumen to really grow and scale a company to a global market.”
Home to startups and multinationals
Markham’s success in tech is even more apparent after a visit to Markham Centre, the city’s vibrant new downtown, which seems packed with the world’s most recognizable tech brands. At the heart of Markham Centre is a one-kilometre, purpose-built innovation corridor anchored by IBM’s Canadian software lab—the largest software development lab in the country. Markham Centre is also home to YSpace, York University’s community innovation hub. Within its first year, YSpace ventures created 71 jobs, generated $2.4 million of revenue and raised $1.3 million in funding.
Many multinationals have significant research, development and business operations in Markham, including GM, Qualcomm, Honda, Lenovo, Toshiba and Nokia. “Markham is the ideal location for the future of automotive engineering and innovation as we look to transform our industry with electric, self-driving, connected vehicles and shared mobility services,” says Travis Hester, president and managing director, GM Canada. “With access to a highly skilled workforce, rich ecosystem of educational partners and business incubators, GM’s decision to choose Markham made perfect sense.”
Homegrown tech successes such as Real Matters, Redline Communications, Enghouse Systems, Book4Time and Everlink are also significant players in Markham’s tech ecosystem.
More than 4,300 tech companies call Markham and York Region home, the highest concentration of tech workers in Ontario’s Innovation Corridor and the highest concentration of tech companies relative to population in Canada.
A global perspective
“Markham is where people and creativity thrive,” says Mayor Scarpitti. “This is where entrepreneurs from all over the world scale and grow their companies alongside established global giants, and the world is taking notice.”
Indeed, Markham is Canada’s most diverse community: 78 per cent of Markham residents identify as a visible minority and 60 per cent were born outside of Canada. “We’re able to attract technology companies because of the breadth of talent and opportunities here,” says Mayor Scarpitti.
“So, when we talk about a successful ecosystem, it’s not just about having a great idea,” says Chee. “It’s about the people in the community, the talent pool, and having the knowledge and know-how. That’s something that Markham has in spades.