IBM has launched its latest incubator at Invest Ottawa, the capital’s economic development agency.
The centre launched thanks to a partnership between Ontario Centres of Excellence, IBM Canada, and Invest Ottawa as part of the IBM Incubator Project. The Incubator Project commits to building incubators that provide companies with IBM resources to scale their products.
The OCE will oversee the operations of the IBM Innovation Incubator Project and coordinate industry partnerships.
“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,” said Michael Tremblay, CEO of Invest Ottawa. “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.”
Last year, the Ontario government committed $22.75 million to the Project. IBM has also committed $24.75 million.
“Our government is committed to boosting innovation in Ontario through strategic partnerships, in order to help Ontario’s growing businesses scale up,” said Reza Moridi, Minister of Research, Innovation and Science. “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.”
Two startups so far are confirmed to be working out of the incubator. Larus Technologies Corporation, which gives defense contractors timely intelligence; and ChangeJar, a mobile cash payment platform.
“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,” said Allen Lalonde, senior innovation executive at IBM Canada. “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.”
IBM’s most recent incubator announcement was at Communitech in Kitchener.