Hugh Chow has stepped down as chief executive officer of VentureLAB, the Markham, Ontario-based technology incubator, ending a leadership tenure that began in September 2023. His departure took effect on October 16, 2026, following just over three years in the role. Sep Assadian, a longtime executive at the organization, has assumed responsibility as interim president and CEO while VentureLAB navigates the transition.
Leadership Change and Departure
An internal message to staff attributed Chow’s departure to personal reasons, without providing further details. A VentureLAB spokesperson thanked Chow for his leadership and contributions to the organization while wishing him well in his future endeavors. No permanent successor or timetable for a long-term appointment has been announced.
Assadian also addressed his new responsibilities in a LinkedIn announcement, indicating that the board had asked him to assume the interim role. He framed the transition against broader questions about Canada’s industrial competitiveness, economic resilience, and technological capabilities. His message called for stronger collaboration between VentureLAB and the ecosystem of founders, businesses, investors, and institutions it serves.
Hugh Chow’s Tenure and Industry Background
Chow was appointed VentureLAB chief executive effective September 5, 2023, bringing decades of experience in semiconductor engineering, entrepreneurship, and international technology investment. Before joining the incubator, he held senior engineering responsibilities at ATI Technologies and co-founded semiconductor company ViXS Systems. He subsequently held leadership positions involving technology commercialization and research, including at the Hong Kong Applied Science and Technology Research Institute.
His appointment reflected VentureLAB’s ambition to help Canadian technology founders develop international relationships and commercial opportunities. During his tenure, the organization strengthened industry partnerships and expanded its global network, according to its spokesperson. Chow also contributed to the development of VentureLAB’s HardTech Investor Network, an initiative designed to strengthen connections between technology ventures and potential investors.
Sep Assadian’s Experience
Assadian joined VentureLAB in 2017 and most recently served as vice-president of founder success, overseeing services intended to help technology businesses grow. His work involved supporting startups with commercialization, investment preparation, business development, and international expansion. VentureLAB’s official biography also highlights his experience developing accelerator programs and working with innovation ecosystems across several regions.
His familiarity with the incubator’s teams, founders, and operating structure provides an established internal point of leadership during the transition. Assadian has indicated that VentureLAB will retain its founder-focused direction rather than undertake a fundamental change in mission. He also emphasized continued cooperation with public and private partners to strengthen the resources available to growing businesses.
Priorities for the Organization
VentureLAB operates in an environment where emerging technology companies often require specialized infrastructure, patient capital, and industry relationships before reaching commercial scale. Its work in semiconductor technology, hardware development, and artificial intelligence places it within broader discussions about Canadian innovation capacity. Maintaining access to investors and commercialization support will therefore remain important as the organization adjusts to its leadership change.
Chow’s departure closes a three-year period in which VentureLAB sought to deepen its international connections and strengthen investment pathways for hard technology startups. Assadian now assumes interim leadership with extensive institutional experience and a stated commitment to maintaining existing priorities. The next stage will center on sustaining services for founders and determining the organization’s longer-term executive leadership.
Source: BetaKit