FREDERICTON –Ignite Fredericton and Planet Hatch, in conjunction with Knowledge Park, have formed a soft landing zone partnership with Walnut Accelerator. The agreement is the first of its kind between an organization in Atlantic Canada and Western China.
Walnut Accelerator is a Chengdu-based incubation/acceleration organization focused on supporting the growth of high-tech companies and innovation. The agreement will enable start-ups and growth stage companies to locate within each other’s respective acceleration spaces, creating a more supportive environment for trade and investment activity. The partnership commits both organizations to make programs, services and preferential rates available to each other’s companies.
“The agreement will allow New Brunswick-based companies to more easily access export, capital investment and joint venture opportunities in Western China,” says Adam Peabody, the investment attraction and growth specialist at Ignite Fredericton, in a release. “It will also position Fredericton as the investment location of choice for Chengdu-based firms looking to establish a North American beachhead operation.”
Ignite Fredericton says the partnership comes at a great time, as there has been “a flurry of reciprocal trade visits between high-level Canadian and Chinese private and public sector leaders” this fall. Prime Minister Justin Trudeau initiated free trade agreement talks during his official state visit to China in September. Premier Brian Gallant also just returned from a mission to China with a delegation of New Brunswick executives last week.
“As China’s economy continues to grow at world-record rates, there are exponential opportunities for our companies,” said Peabody. “This forward-looking agreement will allow entrepreneurs to increase their global presence, creating new jobs in New Brunswick.”