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Media Release

Brampton’s FDI journey – next stop – Web Summit in Portugal


BRAMPTON, ON (October 31, 2019) – Next week, Mayor Patrick Brown and Regional Councillors Martin Medeiros and Paul Vicente will take Brampton’s Foreign Direct Investment (FDI) journey overseas to Portugal to attend the world’s largest tech conference, Web Summit 2019.

With over 70,000 attendees ranging from founders and CEOs of technology companies, fast-growing startups, policy makers and heads of state and 1,200 speakers, the Web Summit brings together the people and companies redefining the tech industry.

Innovation and technology is a key sector that is thriving in Brampton. Web Summit will provide City representatives with the chance to connect with leading industry professionals and share opportunities for investment in Brampton. Located at the centre of the Toronto-Waterloo Innovation Corridor, Brampton is developing its own Innovation Ecosystem, which includes:
• Rogers Cybersecure Catalyst
• Brampton Entrepreneur Centre (ideation and co-working space)
•  A new startup incubator led by a global leader
• A $150M investment into a new Centre for Innovation
• A scale-up incubator
• Branding of “Innovation District” in downtown Brampton, adjacent to the Go Train station connecting Brampton to Toronto and Waterloo

In September, the City of Brampton launched its FDI strategy Investment Missions at the MedTech Conference in Boston. Next,City representatives attended the Anuga Food Fair in Cologne, Germany, where the team participated in dozens of investment-focused corporate meetings, connected with businesses from Brampton attending Anuga with goals of expanding their operations, and secured many new contacts, which staff are following up on.

The FDI strategy is key to delivering the City’s Economic Development Master Plan (EDMP) and Brampton 2040 Vision. Specifically, FDI will fill gaps in the supply chain, diversify the tax base, promote economic growth, and raise Brampton’s profile globally as a competitive place to do business. By attracting new investment and jobs to the City, FDI will benefit all Brampton residents.

Brampton’s FDI efforts focus on the City’s key sectors: Health and Life Sciences, Advanced Manufacturing (including Food and Beverage Manufacturing), and Innovation and Technology.
 

Quotes 
 
“Brampton is moving quickly to build a robust Innovation Ecosystem in our city. Recently, Brampton Council agreed to develop our own “Innovation District”. We are excited for the opportunity to collaborate with leaders in Innovation and Technology at Web Summit in Portugal and to tell the world about the great work we have been doing in this sector. We are on the way to becoming a leader in Innovation, and our location at the centre of the Innovation Corridor makes us an ideal spot for new investment.”    
- Mayor Patrick Brown

“Council is committed to advancing our FDI focus to bring more investment to our City. A growing business community is a win-win for everyone in Brampton, and is integral to our City’s prosperity and economy.”
- Regional Councillor Gurpreet S. Dhillon, Chair, Economic Development Committee

“We made many new contacts at the Anuga Food Fair in Germany, and I’m excited about the itinerary we have for Web Summit in Portugal. With each FDI Mission, we are making new contacts and building relationships with business leaders in Brampton’s key sectors from around the world. Our staff are following up with each contact, and it is these relationships that we are building that will lead to foreign direct investment in our city over time.”
- Clare Barnett, Director, Economic Development and Culture
 
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As one of the fastest-growing cities in Canada, Brampton is home to 650,000 people and 70,000 businesses. People are at the heart of everything we do. We are energized by our diverse communities, we attract investment, and we are embarking on a journey to lead technological and environmental innovation. We partner for progress to build a healthy city that is safe, sustainable and successful. Connect with us on Twitter, Facebook, and Instagram. Learn more at www.brampton.ca.

MEDIA CONTACT
Natalie Stogdill
Senior Advisor, Public Relations, City of Brampton
905.874.3654 | natalie.stogdill@brampton.ca