Ontario Gives Boost To Digital Economy
November 6, 2009 1:22 PM
McGuinty Government Helps New Centre Grow Companies And Jobs
Ontario is supporting a new commercialization centre that will help digital media entrepreneurs build new companies and create jobs.
The province plans to invest more than $26 million in The Communitech Hub: Digital Media & Mobile Accelerator ("The Hub"), a new centre that will help emerging digital media companies grow and succeed in the global market. In particular, The Hub will look beyond the entertainment sector to focus on companies creating hardware and software for industries, including advanced manufacturing, healthcare and finance.
Based in Waterloo Region, The Hub expects thousands of jobs could be created over the first five years by serving entrepreneurs across the province.
This investment supports Ontario's Innovation Agenda, the province's plan to make innovation a driving force of Ontario's economy.
QUICK FACTS
- The Hub will focus on commercialization, business development, and access to financing. It will offer state-of-the-art tools and lab space, with equipment and support provided by industry leaders including Open Text Corporation, Christie Digital Systems Canada Inc., Intel, Agfa HealthCare and Research In Motion.
- Worldwide, the digital media sector is one of the fastest growing industries in the knowledge economy, and its double-digit growth rate will help drive the global media market up to US$2.2 trillion by 2012.
- Ontario has the third-largest entertainment and creative sector in North America, after California and New York. Ontario's digital media industry generates more than $1 billion annually.
LEARN MORE
CONTACTS
- Perry Blocher
Communications Branch
416-326-7717
perry.blocher@ontario.ca
- Sandra Watts
Minister's Office
416-314-7067
sandra.watts@ontario.ca
ontario.ca/innovation
The Communitech Hub
"Ontario is already recognized as a global leader in the digital media sector and today we are sending a clear signal to digital entrepreneurs everywhere - Ontario means business. The Hub will strengthen our ability to support innovators across the province, as they work to turn new ideas into new jobs and globally competitive businesses."
– John Milloy
Minister of Research and Innovation
"Waterloo Region is a perfect fit for The Hub. We are home to globally-recognized research and industry leaders, a highly-skilled workforce, and now - the business development and commercialization muscle that we need to help build Ontario's digital economy."
– Leeanna Pendergast
MPP for Kitchener-Conestoga
"Digital media and mobile computing are the future of Canada's technology industry. The Hub is a place where entrepreneurs and business leaders can make connections, start companies, and create jobs for Ontario."
– Iain Klugman
President and CEO, Communitech
Communities
