Bayview Yards receives $1.3 million investment from RBC, CIBC

bayview yards

Ottawa-based Bayview Yards has announced eight founding sponsors that are injecting more than $1.3 million to the innovation hub.

Sponsors include RBC, Flex, Rogers, CIBC, R4C, BDO, BDC, and the Algonquin College of Applied Arts and Technology. As part of the investment, Invest Ottawa, the capital’s economic agency, will also receive funding.

“Today, we celebrate an important milestone for Bayview Yards, and the innovation community we serve,” said Steve West, chair of the board of Bayview Yards. “The critical contribution of these founding sponsors will help us to realize the vision established for this entrepreneurial hub, underscoring the value of public-private sector collaboration. Together with these leaders, we will drive innovation, technology commercialization and business development that bolsters economic growth and job creation across our region.”

The investment builds on a $38 million of anchor investment in Bayview Yards by the City of Ottawa, the Ontario government, and the Canadian government.

“Ottawa is an economic engine that develops some of the world’s greatest technology talent and firms, and makes a significant contribution to our national economy,” said Michael Tremblay, President and CEO of Invest Ottawa. “The founding sponsors announced today are true leaders in their field of expertise, and they will help catalyze the success of the entrepreneurs and firms that work with us through Bayview Yards. I would like to extend sincere thanks to all sponsors for investing in our innovation community, and helping us to achieve even greater impact for Ottawa entrepreneurs, companies and citizens in the days ahead.”

In June 2016, the hub received $8 million from FedDev Ontario.

Jessica Galang

Jessica Galang

Jessica Galang is BetaKit's News Editor. Follow her on Twitter @jessicagalangg or send her pitches to jessica.galang@betakit.com.