Ottawa's future innovation hub gets $8M federal boost
Feds say funding will help 1,200 small- and medium-sized companies in the National Capital Region.
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The federal government is kicking in $8 million to help budding Ottawa-area tech companies develop their products.
Navdeep Bains, the minister of innovation, science and economic development, made the announcement in Laroche Park, beside the unfinished Innovation Centre at Bayview Yards on Wednesday morning.
He said the funding will help 1,200 small- and medium-sized companies in the digital media, software, defence, aerospace and security and clean tech sectors.
It should create more than 280 new jobs in the National Capital Region.
Some start-ups may set up shop in the innovation hub, which will open doors this fall.
“As the companies grow and succeed, they will set up shop elsewhere,” said Bains. “Really, we want to create that initial environment for them to succeed by providing them with the business acumen, the mentorship, the legal support, the financing support, really creating that collaborative environment that gives them the tools to succeed.”
Further, the Global Cybersecurity Resource Program will offer cybersecurity resources to start-ups. This is something that’s important in an increasingly digital age, said Bains.
The City of Ottawa and the province are splitting the $30-million construction costs to refurbish the 75-year-old industrial complex in Mechanicsville.
When it re-opens, it will be home to a digital media lab, maker space, 300-seat auditorium and café. After the LRT launches in 2018, it will connect the four university campuses by rail.