Rogers Cybersecure Catalyst is pleased to announce the release of the Catalyst Cyber Accelerator 2020-2022 Report, a benchmark publication tracking the growth of thirty-nine Canadian cybersecurity start-ups and scale-ups.

The Catalyst Cyber Accelerator, a program of Rogers Cybersecure Catalyst, is the first — and foremost — commercial accelerator of its kind in Canada and is designed to help early-stage cybersecurity companies grow into industry leaders.

The early-stage companies and founders featured in the report graduated from the accelerator program between 2020 and 2022. The report tracks hiring, market traction and fundraising data across program alumni, providing a unique glimpse into the health of Canada’s cyber innovation ecosystem, and the extended nationwide community that supports it.

Report findings include:

• Hiring momentum — Program participants collectively created 351 jobs and reported 72% workforce growth post-program participation.
• Innovation and commercialization — Alumni hold 36 granted patents in technology categories including quantum computing, secure message exchanges, behavioural biometrics and AI and machine learning algorithms.
• Leadership diversity — Five participating companies identified as female-founded, representing 13% of all founder alumni (versus a reported industry average of 2.4%).
• Fundraising traction — Alumni fundraised $101M CAD and reported 68% increase in non-dilutive and 67% increase in dilutive fund sources.
• Revenue growth — Pre- to post-program revenue growth increased 245% on average across program graduates.