IBM Innovation Space initiative helps entrepreneurs

IBM Innovation Space provides entrepreneurs with key resources.

IBM, in partnership with the Government of Ontario, Ontario Centres of Excellence (OCE), and ventureLAB, has launched the IBM Innovation Space at the Markham Convergence Centre.

The new space is the third initiative under IBM’s Innovation Incubator Project, funded with a $24.75 million investment from IBM and $22.75 million from the Ontario’s Jobs and Prosperity Fund. The other innovation spaces are located at the DMZ and MaRS in Toronto.

IBM’s innovation spaces provide entrepreneurs with resources such as IBM cloud and cognitive business technologies, as well as access to education, business mentorship, and legal counsel through IBM’s network, in order to help them incubate.

Reza Moridi, Ontario Minister of Research, Innovation and Science, said the government is committed to boosting innovation in Ontario through strategic partnerships, in order to help Ontario’s growing businesses scale up.

“These collaboration spaces help entrepreneurs access IBM’s expertise and advanced technologies, allowing them to test and develop their ideas and enter the global markets,” added Moridi.

Mayor Frank Scarpitti said this is collaboration at its best. With the Markham Convergence Centre and ventureLAB in house with IBM is definitely a good move.

“The IBM Innovation Space – Markham Convergence Centre is a central part of Markham 2020, the City’s economic strategy, and will help foster a collaborative business environment, stimulate new business formation and commercialization, attract high-quality employment, and enhance Markham’s economic competitiveness and prosperity,” added Mayor Scarpitti.

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