Sudbury Business Incubator Ready to Welcome First Startups

The city of Greater Sudbury has opened applications for its new business incubation program, Innovation Quarters. It will be a 12-month program that will provide new and tech-based startups with many incentives like office space in the downtown core. The aim is to let new businesses become a part of the city's Economic Recovery Strategic Plan.

Josée Pharand, the Business Development Officer for the City of Greater Sudbury, believes that this program offers more than just a convenient place to work. She said, "It's more than just a space. We're looking to really create an environment where people engage in programming. It's a growth program where people will have access to training, one-on-one coaching, mentorship, networking opportunities."

She also highlighted that the city invites "tech-enabled" companies to apply to the program. Such companies include those using technology platforms to be more efficient. She stated, "When looking at some of the more popular types of companies that you could think of, I would consider UberEats, Airbnb, perhaps, real estate apps. The type of companies that are using technology to deliver a different type of product or service to their customers."

Pharand mentioned that the idea is to help accelerate the startup process for small companies. Usually, it can take years before turning to positive cash flow. She said, "Essentially, it's getting them to move through that startup phase a little quicker with additional tools and reducing the barriers that typically come with getting a startup off the ground. Within 12 months, we hope that they'll graduate and then look at other spaces potentially in the downtown core or other real estate opportunities in the city, and gain jobs and continue to grow the business once they've graduated."

The Fee and Application Deadline

If accepted, businesses will need to pay a monthly membership fee of $300 plus $50 per workstation. The total comes down to about $25,000.

Applications for Innovation Quarters are open between April 19 and May 15. The first cohort of the program is scheduled to begin on June 20.

The Key Offerings

In addition to affordable and collaborative office space, which will be located in the downtown core, the Innovation Quarters program will offer the following to startups.

Ø  One-on-one mentorship from community leaders and experienced mentors

Ø  Connections to professionals, business advisors, and government funding programs.

Ø  Specially curated professional development workshops, seminars, and networking opportunities with potential investors, new clients, and collaborators.

Ø  Marketing and media exposure via IQ programming.

Ø  Several collaboration opportunities with like-minded local innovators.

Interested applicants and general public members can attend one of two virtual public information sessions on Tuesday, April 26 at 12 p.m. or Wednesday, May 11 at 6 p.m. These sessions will provide detailed information on the program and the opportunity to ask questions.

To learn more about the program, one can submit an application or register for an information session, visit the Innovation Quarters website here or call the Innovation Quarters at 705-688-3918.




Previous Post Next Post