This is the third and final installment of New Market Entry, presented by ventureLAB. This three-part series spotlights founders bringing their international deeptech startups to the Canadian market. Read part one here and part two here.
When Esha Chopra first met with the team at Caliber Interconnects, she was presented with a vast array of deep tech innovations—from autonomous mobile robots to cutting-edge semiconductor test services.
Caliber Interconnects, a deeptech engineering technology company, founded in India and headquartered in Singapore, comes with a diverse range of expertise and a global presence with a focus on hardware design, integrated circuit package and substrate design, high-density interconnect design, and silicon testing. The team was eager to launch in Canada, however, with a wide portfolio of products, the real challenge was figuring out which ones would resonate.
“For any company entering the Canadian market, determining the optimal product fit requires significant effort.”
Esha Chopra, ventureLAB
As the Director of Programs at ventureLAB, Esha Chopra’s job was to help Caliber navigate this new market.
“We worked closely with Caliber Interconnects as part of our Soft Landing program, helping them identify the key products that would be most successful in the Canadian market,” Chopra said. “We definitely don’t suggest bringing in all the products at once, so we helped them figure out those with the best potential.”
Caliber Interconnects, which had already expanded into Singapore, Malaysia, and Japan, recognized the need for local expertise. To get this on-the-ground knowledge for their Canadian launch, the company turned to ventureLAB’s Soft Landing program.
The program, part of ventureLAB’s Canada Catalyst initiative, provides international deeptech companies with advisory services and key business resources to help them gain a foothold in the country.
After reviewing Caliber Interconnects’ product portfolio, ventureLAB focused on a real-time video security surveillance solution called KENVISION. The product uses advanced image processing to detect anomalous activities and instantly alert designated authorities about potential threats.
The market for integrated security solutions in Canada is projected to expand by 12 percent annually over the next five years. For Chopra, the opportunity was compelling.
“I found Caliber Interconnects’ solution quite innovative,” Chopra said. “There aren’t as many competitors in that area in Canada, so that product was an obvious choice.”
Caliber Interconnects has also developed a line of autonomous mobile robots that can handle materials, manage inventory, provide surveillance, and perform automated cleaning. A needs analysis performed by ventureLab assessed potential demand for the robots in Canada
“The versatility of this product extends from manufacturing to hospitality,” Chopra said. “Given their widespread adoption, these robots were another clear choice for the Canadian market.”
Since completing the Soft Landing program earlier this year, Caliber Interconnects has made multiple hires in Canada. The company has also identified Canadian grants that can help them hire locally and have access to deeptech networking events across the country, such as ventureLAB’s HardTech Summit.
By equipping these companies with a local understanding of the Canadian market’s gaps and needs, Chopra said ventureLAB aims to provide international firms with a strong foundation for a successful launch.
“For any company entering the Canadian market, determining the optimal product fit requires significant effort,” Chopra said.
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Breaking into North American markets calls for deep market knowledge, skilled talent and an experienced support network who can assist you in your journey to Canada.
ventureLAB’s Canada Catalyst serves as a launching pad for international companies to enter the Canadian market and beyond, catering specifically to the unique needs of companies in the hardware and enterprise technology sectors, with a strong emphasis on DeepTech.
Visit https://www.venturelab.ca/canada-catalyst to learn more.
Images provided by ventureLAB.