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
- About Ontario's Innovation Agenda.
- About Ontario And The Communitech Hub: Digital Media & Mobile Accelerator.
Contacts
- Perry Blocher
Communications Branch
416-326-7717
perry.blocher@ontario.ca - Ralph Benmergui
Minister's Office
416-314-7067
ralph.benmergui@ontario.ca
Ministry of Research and Innovation
ontario.ca/innovation