Ontario Marks Grand Opening of Innovation Space in Ottawa
Province Helping Businesses Take New Technology to Global Markets
Ontario is providing businesses in Ottawa with access to the technology and expertise they need to create jobs, grow and compete in the global marketplace.
Bob Chiarelli, MPP for Ottawa West-Nepean and Minister of Infrastructure, made the announcement today at the opening of the IBM Innovation Incubator Project at Invest Ottawa. This centre -- made possible through a partnership with Ontario Centres of Excellence, IBM Canada and Invest Ottawa -- is part of the IBM Innovation Incubator Project.
Announced in 2016, the project helps small- and medium- sized enterprises (SMEs) fast-track the launch of new technologies and products to international clients by leveraging IBM's technical resources. This includes cognitive business technology and a cloud-based development platform, as well as its physical space and network of customers. The project is expected to help SMEs create up to 2,600 jobs by 2020.
Fostering innovation and growth is part of our plan to create jobs, grow our economy and help people in their everyday lives.
- Ontario invested $22.75 million through the Jobs and Prosperity Fund for the IBM Innovation Incubator Project, supporting an additional investment of $24.75 million from IBM. With expected investment leveraged by participating new and emerging companies, the total investment is expected to exceed $410 million.
- Ontario Centres of Excellence (OCE) will oversee the operations of the IBM Innovation Incubator Project and coordinate industry partnerships. OCE is a provincial coordinator and member of the Ontario Network of Entrepreneurs that works with industry, academia and government to stimulate business-led innovation.
- The IBM Innovation Incubator Project includes five co-located innovation spaces across Ontario.
“Entrepreneurship and innovation are at the heart of our government’s plan to create jobs and grow our economy. That's why we are pleased to support IBM Innovation Spaces, which will help Ontario businesses access the tools they need to scale up quickly to meet demand in a fiercely competitive global economy.”
“Our government is committed to boosting innovation in Ontario through strategic partnerships, in order to help Ontario’s growing businesses scale up. These kinds of collaboration spaces help entrepreneurs access expertise and advanced technologies they otherwise might not have access to, allowing our province’s innovators to test, develop and commercialize their ideas and connect to markets worldwide.”
“Investing in Ontario’s innovators is one of the most reliable and rewarding ways to create growth in our economy. The government’s support of the IBM Innovation Incubator Project at Invest Ottawa will help the region’s SMEs compete in a global market that stands to gain immeasurable value from Ottawa’s world-class talent.”
“Ottawa is already a leader in today’s global, knowledge based economy, being home to one of the most educated workforces in North America. IBM’s investment will provide our small- and medium- sized enterprise community access to the technology and opportunities they need to pioneer revolutionary technologies at home, and abroad.”
“The IBM Innovation Spaces offer small- and medium- sized enterprises access to the state-of-the-art technologies that disruptors who want to participate in the innovation economy need to compete. The Government of Ontario, IBM and OCE are also providing support and mentorship, as well as access to global networks and large customers that will help Ontario SMEs to scale-up and enter markets around the world.”
“Our ongoing collaboration with OCE and Invest Ottawa provides an opportunity to empower small businesses with leading cloud and cognitive capabilities, and turn the brightest ideas into reality. At IBM, we believe the path forward is that of engagement and openness to the world. By bringing together entrepreneurs, developers and organizations from all sectors, we can together transform industries and solve some of Canada’s most complex problems.”
“We are honoured to host the IBM Innovation Incubator Project, which will provide more tools, technology and substantial support, which in turn will help Ottawa companies grow. Invest Ottawa and Bayview Yards are privileged to have OCE and IBM Canada as partners, as their continuing collaboration helps solidify the city's reputation as Canada's top tech hub.”