Communitech opens Toronto Stock Exchange for the first time in Waterloo Region
Historic market open ceremony points to future opportunities for Canadian tech founders
KITCHENER, ONT., February 22, 2022 — Today Communitech celebrated the opening of Toronto Stock Exchange (TSX) at the Communitech Hub. This historic ceremony marked the first time TSX has opened trading in Waterloo Region, and is a nod to the continued momentum and growth of tech companies in the region and across Canada. It also points to future opportunities for founders to take their companies public on TSX.
“We’re excited to collaborate with TSX and bring this monumental next step to our fast-growing member companies,” said Chris Albinson, CEO, Communitech. “We’ve seen incredible momentum over the last year, and we know we’re just getting started.”
Last year, companies across Communitech’s nation-wide network raised $3.3 billion in venture capital, which rivals the previous 10 years combined. And member companies D2L in Kitchener, Magnet Forensics in Waterloo and Thinkific in Vancouver were listed on TSX last year.
“The exponential growth happening in the tech sector in Waterloo Region and beyond is something the rest of Canada – and the world – is paying attention to,” said Loui Anastasopoulos, CEO, TSX and Global Head, Capital Formation. “We’re honoured to support the growth and prosperity of companies at all stages of development across Canada.”
The collaboration with TSX connects the finance and investment community to the next generation of Canadian-founded companies and tech entrepreneurs, and is an opportunity for founders to grow global companies at home in Canada.
“Ontario is home to a burgeoning tech sector and the world’s brightest and most talented entrepreneurs,” said Vic Fedeli, Ontario’s Minister of Economic Development, Job Creation and Trade. “Today’s opening of TSX at Communitech represents an exciting milestone for Communitech, the Waterloo Region, and for the future growth of our whole tech ecosystem.”
The collaboration also supports Communitech’s True North Strategy, which uses data to identify Canada’s top tech founders, and provides them with the support they need to lead in a globally competitive technology sector. The True North Strategy helps Canadian tech companies sell their innovations here at home, through integrated market initiatives like the CAN Health Network, and to tap into the world’s best talent with its Outposts and Academy programs. And the True North Fund – a pool of all-Canadian capital raised from institutional partners and founders, for founders – aims to provide the support that scaling companies need to win on the global stage.
“Our partnership with Communitech allows us to deploy our proven integrated marketplace model to even more great Canadian companies, creating jobs, retaining our domestic talent, and strengthening our economy – a win for all of Canada,” said Dr. Dante Morra, Chair, CAN Health Network.
The historic event celebrates the successes of Communitech member companies within the Waterloo-Toronto Corridor – the world’s second-largest and fastest-growing innovation cluster – and beyond.
“I’m proud of the continued momentum of our region’s founders and tech companies,” said Karen Redman, Regional Chair, Region of Waterloo. “The leadership and innovation they exhibit is truly world-class, and we look forward to supporting their future growth in our community.”
For more information, visit www.communitech.ca.
For Market Opens: Media may pick up a feed from the TOC (television operations centre) for all market open ceremonies. The feed is named TSX Transmit 1 (HD-SDI) and is produced at the TMX Market Centre and sent live to the TOC. To pick up the feed via the Dejero network, please contact firstname.lastname@example.org. The client feature video will begin playing on the TMX media wall at approximately 9:29 a.m. ET and the markets will open with the sound of a siren at 9:30 a.m. ET.
Communitech was launched in 1997 by a group of founders committed to making Waterloo Region a global tech leader. Today, Communitech is Canada’s leading innovation hub, supporting a community of more than 1,200 founders of startups, scale-ups and at-scale companies on their journey to a billion dollars in annual revenue.
Communitech helps founders start, grow and succeed in three distinct ways
Communitech is a convenor – the centre of gravity for founders, innovators and partners. It’s a clubhouse and connector for those building trust-based tech and world-class companies.
Communitech delivers programs to help founders with what they need most – accelerating access to talent, sales and growth capital.
Communitech is helping to build a world-leading ecosystem with trust at its core – making sure we have all the ingredients (and the brand) to help founders build successful companies, solve meaningful problems and secure Canada’s position as the largest tech ecosystem on the planet.
For media inquiries, please contact:
Public Relations Manager, Communitech