Ontario Investing in New Institute at Wilfrid Laurier University
Province Helping to Grow Innovative Start-Ups
Ontario is supporting a new management institute at Wilfrid Laurier University in Waterloo that will help innovative technology start-ups become globally competitive companies.
As announced in the 2015 Budget, the province is contributing $15 million over 10 years to the Lazaridis Institute for the Management of Technology Enterprises in the heart of the Kitchener-Cambridge-Waterloo Region, often referred to as 'Canada's technology triangle'. The institute will help bolster Ontario's emerging technology sector by teaching the skills required to grow successful start-ups ready to prosper in the global marketplace.
Students will be:
- Taught the management skills they need to succeed in the new economy through customized curriculum, research activities, seminars and conferences.
- Provided development and networking opportunities including a mentorship-coaching program.
The institute will also support the next generation of Ontario's technology leaders through partnerships with undergraduate and graduate programs at Wilfrid Laurier University.
Fostering the right climate to turn innovative ideas into successful companies is part of the government's economic plan for Ontario. The four-part plan is building Ontario up by investing in people's talents and skills, building new public infrastructure like roads and transit, creating a dynamic, supportive environment where business thrives, and building a secure savings plan so everyone can afford to retire.
- The Province will contribute $1.5 million annually over the next 10 years to the Lazaridis Institute for the Management of Technology Enterprises. Mike Lazaridis, co-founder of BlackBerry, will invest $20 million.
- The Conference Board of Canada recently ranked Ontario as the top-performing province in its annual innovation report card.
- Kitchener-Cambridge-Waterloo Region is referred to as "Canada's Technology Triangle" for its well-developed information and communications technology sectors.
- The Region’s information communication and technology sector grew by over 10 per cent between 2011 and 2014. It is home to over 1,000 technology companies.
“Ontario recognizes that to be a top global jurisdiction in technology, we need to have the right infrastructure and the best talent in place to inspire entrepreneurship and connect local start-ups to the support and mentorship they need to grow. The Lazaridis Institute will help ensure that Ontario’s tech companies have the management skills and expertise they need to create a new wave of highly skilled jobs in our province.”
“This new institute is an exciting addition to Kitchener-Waterloo’s thriving innovation ecosystem. By helping more entrepreneurs take their innovative ideas to the next level, we can strengthen Ontario’s economy and compete and win against the best in the world.”
“The growth of our innovative start-up companies will create more jobs, spark further economic growth and enhance Ontario’s competitiveness on a global scale. Nurturing new talent and entrepreneurship is good for our economy and the people of Ontario.”
“We are pleased to receive this investment from the Ontario government to help create the Lazaridis Institute. Managerial gaps in start-up companies are a key challenge for Waterloo Region’s fast-growing technology sector. This investment will help the new institute to address this gap ensuring that our very own tech companies have the management skills to compete in global markets.”
“I am very excited about the establishment of the Lazaridis Institute for the Management of Technology Enterprises and the opportunity that it presents to the Canadian technology industry. Through the continued vision and support shared by the Ontario government and Wilfrid Laurier University, the institute will attract top business students and faculty from around the world and will produce exceptional business managers that will help lead Canadian technology companies to grow and succeed globally.”