Venture13 Announces Strategic Partnership Set to Ignite Innovation in the Eastern Region
Northumberland based business accelerator set to open its doors in March 2018
COBOURG, ON, Nov. 22, 2017 /CNW/ - The Town of Cobourg and the Northumberland Community Futures Development Corporation (CFDC) are pleased to make several important announcements related to the Venture13 innovation centre initiative, including the formation of a new strategic partnership, the unveiling of the Venture13 logo and brand identity, as well as confirmation of the opening date for Venture13, a regionally unique facility that will focus on the advancement of technology entrepreneurship, making and learning.
Both the Town of Cobourg and the CFDC have been working diligently to connect entrepreneurs, start-ups and high-growth SMEs with industry, academia, investors and the region's economic development professionals and are pleased to officially welcome Fleming College to the Venture13 strategic board of innovation partners. Fleming College will be injecting the innovation centre with a technical programming component launching in the spring of 2018.
"We are delighted to support the Venture 13 initiative in partnership with the Town of Cobourg and the Northumberland Community Futures Development Corporation," says Tony Tilly, President of Fleming College. "We see a clear alignment between our innovative programming and the needs of those developing new and growing enterprises throughout the region."
The partnerships acquired with Venture13 will combine human resources and organizational intelligence that will increase economic competitiveness and diversity by attracting, retaining and expanding Venture13's business base. The result will be a two-year targeted growth of 73 jobs and 16 new business start-ups.
"Through collaboration, communication and co-location our partners can bring to the table the most resources and expertise to ensure the success of clients served," said Stephen Peacock, Chief Administrative Officer for The Town of Cobourg. "We are so pleased to welcome Fleming College to the table."
With a goal to position Northumberland County and Eastern Ontario as a place for technology entrepreneurship and innovation, Venture13 will attract next generation companies that will contribute to the region's economic development and diversification. The innovation centre will consolidate resources and infrastructure within a single accessible and collaborative space. Northumberland Makers, an anchor community organization teaching DIY skills and project-based applied and experiential learning has also signed on to help lead programming reflective of the history of Northumberland, including agriculture, manufacturing, education, and the future: robotics, coding, prototyping, design and STE(A)M (Science, Technology, Engineering, the Arts and Mathematics).
"Venture13 will establish Northumberland County as the gateway to centres of innovation across Eastern Ontario," proclaimed Mayor Gil Brocanier. "The innovation centre will also create 70+ jobs in addition to the competitive edge it will provide across the entrepreneurial ecosystem."
The Venture13 Steering Committee also unveiled the innovation centre's new logo, designed by Pixelnomial Studios Inc., located in Downtown Cobourg and a graduate of the N1M program delivered by the Northumberland CFDC with the support of FedDev Ontario. The unique logo embodies innovation, connectivity and co-working dynamics that truly exemplify the brand identity the innovation centre is set to achieve. The 'red' colour reflects a 'Made in Canada' approach and is the same red used in the Canadian Flag.
Sustainable from day one, Venture13 has secured permanent anchor tenants like the Cobourg Police Services Business Department who will be utilizing the second floor, and tenants who will occupy the first floor including the Northumberland Community Futures Development Corporation (CFDC), The Town of Cobourg's Economic Development Department and the Northumberland Manufacturer's Association (NMA).
The project has also received significant financial investments including $400,000 under the Eastern Ontario Development Program's Collaborative Economic Development Projects Stream, sponsorships of $200,000, donations exceeding $50,000 and a commitment from The Town of Cobourg of $250,000. The total project cost will amount up to $1,620,000, made up of $1,370,000 for design and construction costs and $250,000 for outfitting costs.
The funding support received will go towards converting an underutilized Town of Cobourg owned building from a maintenance expense into a state-of-the-art technology centre. With a target date for completion of March 2018, the 30,000 square foot building located in Northam Industrial Park, Building #13 at 739 D'Arcy Street will open its doors for entrepreneurial development with support for new and existing businesses. Venture13 will include:
- Economic development professional space
- Start-up/SME incubation areas and acceleration areas
- An 80 seat lecture hall complete with a higher learning centre with virtual lecturing capabilities
- Two seminar rooms equipped with state-of-the-art technologies facilitating global connectivity
- Partner "hot offices" for organizations delivering local innovation programming, such as Spark Centre and the Impact Centre at the University of Toronto
- Public and private meeting rooms
- Café and Innovation Commons
- A full service hardware MakerLab equipped for design, prototyping and engineering that will serve as the home base for Northumberland Makers and a microfactory for hardware startups
- 24-Hour secured access
- Fibre connection and public WiFi
- Web-based ICT platform that will automate facilities booking and user flow
"Together with the Town of Cobourg, and with the support of the Government of Canada and FedDev Ontario, we have designed and created a unique and inspiring platform: a truly local response to the imperative of innovation in the twenty-first century," said Wendy Curtis, Executive Director, Northumberland Community Futures Development Corporation.
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"Hardware startups, makers and manufacturers: all working out of the same prototyping and engineering lab. This collaboration is about coming together to solve complex challenges and to create new opportunities. The Northumberland Manufacturers' Association is proud to be a leading industrial partner for Venture13. We are already looking forward to the diverse ventures that this technology centre will make possible, through the vision of its founders. Congratulations to the Town of Cobourg for taking this crucial step in laying a foundation for the industries of the future."
Dan Ross, President of the Northumberland Manufacturers Association
"Northumberland CFDC has developed a continuum of programs in support of innovation-driven enterprise from idea to commercialization stage. We provide funding, financing and strategy to help high potential companies start, grow and scale. The missing piece for us has been a compelling collaborative space in which to land the next generation technology entrepreneurs we are attracting through our premiere N100 Startup Competition and N1M, our new venture initiative. Now, with Venture13, we have the solution. We will soft land incoming entrepreneurs and inject their ideas, passion and momentum into our local and regional economic diversification strategy. We are not alone in this endeavour: we have brought together local innovation-focused community organizations with our wider network of regional innovation centres from Oshawa to Peterborough to Cornwall, and across Eastern Ontario. Together with the Town of Cobourg, and with the support of the Government of Canada and FedDev Ontario, we have designed and created a unique and inspiring platform: a truly local response to the imperative of innovation in the twenty-first century."
Wendy Curtis, Executive Director, Northumberland Community Futures Development Corporation
About Northumberland Community Futures Development Corporation
Northumberland Community Futures Development Corporation (Northumberland CFDC) provides financing and strategy for entrepreneurs as a pathway to prosperity in our communities. We deliver local and regional programs including N100, N1M, EODP, CEDP and the core Community Futures Program, with the support of the Government of Canada and the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). For more information, please visit us online at www.financingandstrategy.com
About The Town of Cobourg
The Town of Cobourg is a lakeside community located on the north shore of Lake Ontario halfway between Toronto and Kingston and has been recognized multiple times by MoneySense Magazine as "One of Canada's Best Places to Live" in populations under 25,000. Founded in 1798, Cobourg is rich in heritage offering a vibrant downtown, sophisticated small town atmosphere and renowned waterfront that serves as a popular getaway destination. As the largest town in Northumberland County, Cobourg is personified by historic Victoria Hall, hosts a 27.4 million community centre, an educated and skilled labour force, flourishing commercial sector and supportive municipal government. Cobourg has received the Federation of Canadian Municipalities.
SOURCE Town of Cobourg
Media Contacts: Ashley Purdy, CMP, Communications Officer, Town of Cobourg, p: 905-372-4301 x 4105, e: [email protected]
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