World Trade Centre Toronto, in partnership with the Ottawa Board of Trade, is launching the 2021 edition of the Trade Accelerator Program (TAP) with a technology-specific focus.
In its fifth year, the TAP will launch on February 10, offering companies the opportunity to network, while learning about exporting and how to accelerate their growth. The program is open to companies across Ontario.
“The TAP program claims over its five-year history that 71 percent of its graduates are now actively exporting in international markets.”
Each session is delivered virtually over five weeks, with half-day weekly sessions concluded with a virtual mentoring session. Eligibility criteria for the cohort includes pre-revenue to $250,000, demonstration of funding of at least $2 million, sales from $250,000-500,000, and having taken exploratory steps to develop business abroad or already exporting. Full eligibility criteria can be found on the World Trade Centre Toronto website.
The TAP program claims over its five-year history that 71 percent of its graduates are now actively exporting in international markets, while 33 percent experienced average growth in export revenue and 21 percent growth in total revenue after just one year. The program also claims that 90 percent of TAP participants believed they were better prepared to do business internationally.
Canada has struggled with an export deficit, Canada’s merchandise trade deficit grew to $3.3 billion in September, while imports and exports remained below pre-pandemic levels. In November, the trade deficit shrank by $488 million, according to Global Affairs Canada, supported largely by increases in the exports of metal and non-metallic mineral products and metal ores and non-metallic minerals, however the export of consumer goods decreased by 5.1 percent.
Beyond the export plan at the end of the cohort, the TAP program offers access to its online platform, which features a digital library of information related to exporting and managing a business, the opportunity to speak to international trade experts, one-on-one coaching with mentors, and flexibility to attend sessions from either home or office.