The Water Technology Acceleration Project (WaterTAP) is ceasing its operations on June 30, 2019.
The organization had been receiving funding from Ontario’s Ministry of Economic Development, Job Creation and Trade (MEDJCT). The funding was terminated in March 2019 as a result of the provincial government’s cost savings efforts.
WaterTAP was originally created by the Ontario government under the Water Opportunities Act to promote and foster the growth of Ontario’s innovative water technology companies. The organization has provided critical commercialization and business support to over 300 companies since 2012.
In doing so, WaterTAP helped create and retain over 1,600 high value jobs. The businesses WaterTAP supported have achieved compound average growth rates of 25 per cent, three times the Canadian sector average of about eight per cent.
As a result of WaterTAP’s support, Ontario has achieved recognition as one of the world’s most well-known and highly regarded water technology innovation hubs. WaterTAP is respected globally as a thought leader and has provided support to both Canadian and international water technology companies interested in establishing operations in Ontario.
WaterTAP is proud of its many support programs for Ontario’s water technology sector that included collaborations within the Ontario, Canadian, and international water technology innovation ecosystems. Canadian companies need early access to global markets to scale because the domestic market is simply not big enough to support that growth.
The organization worked with all levels of government including Global Affairs Canada (GAC), Trade Commissioner Service (TCS), Global Opportunities for Associations (GOA), National Research Council (NRC), and the Industrial Research Assistance Program (IRAP) to showcase Canada’s innovative companies internationally.
WaterTAP thanks its past and present Board members, its team, client companies, partner organizations globally, and the Ontario government. The success and impact that WaterTAP achieved could not have been achieved without the support of these key stakeholders.