Justin Trudeau made the announcement at Communitech in Kitchener on Tuesday.

Prime Minister Justin Trudeau says it's a move that will help create 18,000 jobs.

In Kitchener, Trudeau announced the federal government is investing in a growth network along the Waterloo-Toronto-Ottawa corridor.

Trudeau says when it comes to innovation, Canada can't afford to get complacent.

"Countries around the world are trying to earn a top spot in the new economy and while Canadian innovators have given us a head start, we need to keep up the pace." he told a large crowd at Communitech on Tuesday morning.



The "Scale-Up Program" - will bring the three top innovation hubs together - Kitchener's Communitech, MaRS Discovery District (Toronto) and Invest Ottawa.

The federal government also say the program is the first of its kind in Canada.

Trudeau says his government will invest over $50 million dollars into the program, over the next five years. Communitech will receive $18 million of that.

.@Communitech to get $18M, MaRS Discovery District getting $17.5M and Invest Ottawa getting $16.9M. — Mark Pare (@MarkLPare) April 16, 2019

The PM confirms a question I asked, the $18M to @Communitech is new money @570NEWS pic.twitter.com/jzSzxI6NY6 — Mark Pare (@MarkLPare) April 16, 2019

The three organizations will pool resources to help 30 Ontario companies scale up and achieve revenues of $100 million or more by 2024.

Trudeau says each of the hubs have their own way of doing things. "They offer slightly different services and tools to their clients. Some are more focused on market access, while others help with things like finding the right talent or raising capital. They each have their own approach and their own expertise."