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.