MARKHAM, ON, December 5, 2024 - ventureLAB, Canada’s leading hub for hardware technology and enterprise software innovation, has signed a Memorandum of Understanding (MOU) with Serbia’s Science and Technology Parks Belgrade, Niš, Čačak and Novi Sad. The agreement was formalized following the Global Partnership on Artificial Intelligence (GPAI) Summit 2024, marking a pivotal moment in fostering collaboration between Canada and Serbia to advance innovation in hardware technology and enterprise software.
“This partnership comes at a critical time when AI is a top priority for governments worldwide. By focusing on AI computing power, we’re connecting ecosystems and creating real opportunities for founders to scale impactful solutions,” said Garry Chan, Chief AI Advisor at ventureLAB.
The MOU highlights a mutual commitment to promote each other’s programs and provide support for founders developing transformative solutions. By connecting their respective ecosystems, ventureLAB and the Science and Technology Parks aim to unlock new opportunities for startups and scale-ups, enabling growth and innovation at a global level.
“This agreement opens new opportunities for Serbian startups to access global resources and markets while fostering collaboration in AI and innovation with Canada,” said Jovan Milić, spokesperson for the Ministry of Science, Technological Development, and Innovation.
The partnership encompasses several key objectives:
- Global Innovation Ecosystem: By connecting Serbian startups with Canadian resources, expertise, and networks, the MOU fosters a robust global innovation ecosystem aligned with the GPAI Summit’s goals.
- Economic Growth: The collaboration stimulates economic development by fostering entrepreneurship and attracting investment. Serbian startups gain access to Canadian markets, while Canadian tech firms can explore opportunities in Serbia’s fast-growing tech sector.
- Talent Development: Knowledge exchange and mentorship programs will enhance the skills of entrepreneurs in both countries, empowering them to innovate and scale their businesses.
This MOU also builds upon Serbia’s visit to ventureLAB in the summer, when Minister of Science, Innovation, and Technological Development Jelena Begović toured the facility including ventureLAB’s state-of-the-art Hardware Catalyst Lab and explored opportunities for collaboration.
This collaboration underscores the shared dedication to driving technological advancement, cultivating entrepreneurship, and building thriving ecosystems across borders.
About ventureLAB
ventureLAB is a leading global founder community for hardware technology and enterprise software companies in Canada. Located at the heart of Ontario’s innovation corridor in York Region, ventureLAB is part of one of the biggest and most diverse tech communities in Canada. Our initiatives focused on raising capital, talent retention, commercializing technology and IP, and customer acquisition have enabled thousands of companies to create over 6,800 jobs and raise more than $420 million in investment capital. ventureLAB is powering hardtech founders to build and scale globally competitive ventures that advance Canada’s knowledge-based economy.
