Chow, who was born in Hong Kong, believes there is scope for VentureLab to expand globally.
Markham, Ontario, with a focus on hardware and semiconductors. His VentureLab, a technology hub, has found its next leader.
VentureLab's Board of Directors has appointed experienced technology entrepreneur and investor Hugh Chou as CEO, effective September 5. Chou replaces Melissa Chee and Matt Skinner, who left VentureLab this summer as CEO.
“Toronto was the place that gave me a career. [innovation, technology, and entrepreneurship] That's what I'm passionate about. ”
– Hugh Chou, Venture Lab
Chow brings more than 30 years of experience in the technology industry and experience building and supporting startups to VentureLab. Much of Mr. Chow's previous work has focused on semiconductors, first as a senior engineer at Mr. Markham's ATI Technologies and then as his leader at the Toronto-based Toronto Stock Exchange-listed company. He has worked as the founder and CEO of ViXS Systems.
Chow joins Venture Labs at an interesting time for the microchip sector, which has become a priority for the Canadian government amid pandemic shortages, war between Russia and Ukraine, and U.S.-China tensions.
In an interview with BetaKit, Chou said he was approached by VentureLab for the role several months ago. “Toronto was the place that gave me a career,” he said. [innovation, technology, and entrepreneurship] It's something I'm passionate about… There was really no reason not to take it seriously. ” he added.
Founded in 2011 and supported by the federal and provincial governments, VentureLab serves Canadian hardware and enterprise software startups, helping them raise capital, retain talent, commercialize technology and intellectual property, and We help you acquire customers. VentureLab claims to date he has created more than 5,000 jobs and helped affiliates secure more than $340 million in investment funding.
“We believe Hugh's unique expertise in a number of technology-centric fields will help us move into the next chapter of helping Canadian companies succeed globally,” VentureLab board chair Yalda Riahi said in a statement. ” “We also believe that his leadership will make a significant contribution to Canada's goal of solidifying its position in key high-value industries such as semiconductors, AI and medical technology.”
RELATED: Venture Lab President and CEO Melissa Chee resigns as tech hub searches for new leader
Born and raised in Hong Kong and trained as a microchip designer, Chow began his career in Canada. He said he found his passion at Canadian fabless semiconductor company ATI Technologies in the early 1990s. ATI Technologies was later acquired by American semiconductor giant AMD in 2006 for $5.4 billion.
His experience at ATI Technologies gave Mr. Chow the confidence and determination to start and build his own semiconductor company, ViXS Systems, in 2001. ViXS Systems was listed on the Toronto Stock Exchange and later acquired by his US-based Pixelworks.
In 2015, Chow left ViXS Systems to give back to the technology industry and became involved in venture investing and mentoring other entrepreneurs. In 2018 he was hired as head of the Hong Kong Applied Science and Technology Research Institute (ASTRI), where he served as CEO for three years.
Chow said he plans to continue working in other roles while working as VentureLab CEO, and said VentureLab's board of directors has been “very accommodating.” These roles include him serving as a partner at investment firm Radiant Tech Ventures and chairman of communications chip company MICAS Group, both of which are based in Hong Kong.
Related: Semiconductor working group launched to advocate for industry priorities
Asked about potential conflicts of interest that could surface from these efforts, Chow emphasized that he will put Venture Lab first and will recuse himself if any problems arise.
During Mr. Chee's tenure, VentureLab continued to grow Canada's microchip industry through initiatives such as launching the Hardware Catalyst Initiative, a lab and incubator for founders commercializing hardware and semiconductor solutions, and co-founding the Canadian Semiconductor Council. stepped forward to assist.
Chee, who resigned this summer after a five-year stint as president and CEO of VentureLab, said on LinkedIn that “what's next is scale, which requires a different strategy,” and “a new This is the right time to make space for leaders.” ”
Mr. Skynner, who previously served as COO of VentureLab, succeeded Mr. Chee on an interim basis in July. He left the company late last month to become director of operations at R-Labs Canada, a venture company in the real estate industry.
Related: VentureLab Announces Hardware Angel Network to Support Pre-Seed and Seed Stage Hardware Startups
During his first few months in the role, Mr. Chau will meet with VentureLab's founders, backers, strategic partners, and key stakeholders, and will engage in a number of He said it was necessary to listen to people's opinions. January 2024.
“The first thing I have to do is understand,” Chow said. “Many people have done a great job making VentureLab what it is today.”
As for what VentureLab's plans are for now, Chow believes that while VentureLab has done a great job regionally in certain areas, there is room for the tech hub to expand more globally. That's what I think. He noted that there is an opportunity for VentureLab to connect Canadian startups with more players around the world, including potential strategic partners and investors.
“For any business to grow, we can't just focus on the Canadian market, especially high-value knowledge-based industries,” he added.
Feature image courtesy of VentureLab.
