Vimy Forge, the national accelerator for defence-focused startups, has announced a fresh round of funding, though it did not reveal the total value.
The support comes from the New Brunswick Innovation Foundation, Business Development Bank of Canada, and the Atlantic Canada Opportunities Agency. The funding will support the second cohort of Vimy Forge’s national defence technology accelerator, which brings startups and early-stage companies from across Canada to New Brunswick for business acceleration, incubation and commercialization programming.
The announcement was made at DEFSEC Atlantic in Halifax.
Vimy Forge, based in New Brunswick, recruits companies developing defence and dual-use technologies and connects them with expertise, industry networks and potential customers. Its programming also links participants with the Canadian Armed Forces, Department of National Defence, defence companies, investors, researchers and other innovation organizations.
“Canada has world-class defence and dual-use innovators, but too many face barriers getting their technology into the hands of customers and end users,” Vimy Forge co-founder and Managing Director Duncan McSporran said in the release.
The organization said the new funding will allow it to bring more companies into New Brunswick and connect them with the province’s defence and cybersecurity resources.
NBIF President and CEO Jeff White said Vimy Forge provides a way for Canadian companies to access New Brunswick’s defence, cybersecurity and research capabilities and develop commercial opportunities.
The first Vimy Forge cohort included 10 companies from across Canada working in areas including artificial intelligence, cybersecurity, marine robotics, autonomous systems, space, smart textiles and counter-uncrewed aerial systems.
Applications for the second cohort are expected to open soon. Vimy Forge said people who have submitted an expression of interest and joined its Canadian Defence Innovation Map will receive first access to the application process.
