Proximity with Ecosystem Partners Will Bring Greater Economic Opportunity for All Startups in Peel Region.
PEEL REGION, Ontario , Feb. 28, 2020 (GLOBE NEWSWIRE) -- On April 1st, The Research Innovation Commercialization (RIC) Centre will be expanding its facilities to Brampton’s Innovation District, located in downtown Brampton at 6 George St. It is joining other startup ecosystem partners who are combining forces to make Peel Region (Brampton, Mississauga, and Caledon) a competitive centre for startups with enhanced economic development potential.
In addition to Brampton’s Entrepreneur Centre, Rogers Cyber Secure Catalyst, Ryerson-Brampton Innovation Zone, and the Centre for Innovation, the RIC Centre is a “scale-up” organization that helps entrepreneurs take their businesses to the next level.
The RIC Centre’s next phase of progress builds on an economic development track record unmatched by other regions’ equivalent development organizations. Over the last four years the RIC Centre has helped over 600 clients raise $110M in funding, generate $97M in revenue and create 1642 jobs1.
Its clients, its dedicated expert advisor pool, and its robust investor network will all benefit through the proximity of being located with other valuable ecosystem providers, helping startups of all sizes develop from Idea to Scale.
The RIC Centre plays a critical role in the incubation of startups with complex products to be market ready. Their expertise with B2B organizations, Advanced Manufacturing, Internet of Things, Hardware & Software, Cleantech and Life Sciences has been vital in helping these startups accelerate time to market, and time to scale.
“The RIC Centre’s Incubator Program is very well designed for B2B businesses, as well as businesses that are not just for software and have more complicated products which require a more complex business model and growth strategy,” says AOMS co-founder Hamid Alemohammad, a former RIC Incubator client who saw 300% revenue growth in 2 years. Cold Block Technologies Inc. raised $1M in 2019, after seeing sales growth of 510% since 2015. “I couldn’t think of a more powerful way to start our very first year,” said CEO Nick Kuryluk.
“We are excited about our many new opportunities to help even more startups like AOMS and Cold Block, with the combined help of our ecosystem partners,” said Pam Banks, Executive Director of the RIC Centre.
For more information, press only:
Pam Banks| Executive Director
RIC Centre | www.riccentre.com
T: 289-373-3050 x 202
For more information on the RIC Centre
RIC Centre is a not-for-profit innovation hub and business incubator for Mississauga, Brampton, Caledon and other communities in Southern Ontario. RIC Centres’ focus is to be a dynamic catalyst for tech companies. We help our companies grow faster and stronger.
Our team consists of more than 100 expert advisors, industry, academic, and government partners. The team helps companies in Advanced Manufacturing, Internet of Things, Hardware & Software, Cleantech and Life Sciences to commercialize their products and get them to market faster.
1. Economic Impact Study via a 2018 Client Survey