BRAMPTON, ON (February 28, 2020) – On February 5, Brampton Council approved funding for the relocation of the Research Innovation Commercialization (RIC) Centre to Brampton’s Innovation District. The City has entered into a grant agreement with the RIC Centre of up to $100,000 per year for three years to support its relocation to downtown Brampton. The RIC Centre will open its doors at its new downtown location at 6 George St. in April of this year.
To be competitive in the Innovation Corridor, Brampton is putting the necessary building blocks in place to support a robust Innovation District with resources available to support entrepreneurs at every stage of their journey.
The RIC Centre, an organization that helps entrepreneurs take their businesses to the next level, is a critical addition to Brampton’s Innovation District, which includes:
• Rogers Cybersecure Catalyst
• Brampton Entrepreneur Centre (Ideation and Co-working space)
• Ryerson-Brampton Innovation Zone (Start-Up Incubator)
• Centre for Innovation
• RIC Centre (Scale-up Incubator)
The RIC Centre is a technology incubator focused on Cleantech, Advanced Manufacturing, hardware and software startups. It provides business startup services and access to incubator space to entrepreneurs, startups and mature tech companies wanting to kick-start their growth and get their business to market faster. Brampton’s Economic Development team has worked closely with the RIC Centre for many years, collaborating on initiatives that support innovation and entrepreneurial networks in Brampton. Over the last four years, the RIC Centre has helped over 600 active clients raise $110M in funding, generate $97M in revenue and create 1,642 jobs.
The addition of the RIC Centre to Brampton’s Innovation District comes on the heels of announcements of Ryerson’s Innovation Zone
and Canada’s first Cybersecurity Accelerator
located in downtown Brampton’s Innovation District.
Opening this spring, Brampton’s Catalyst Cyber Accelerator will support Canada’s cybersecurity ecosystem by providing Canadian scale-up companies in cybersecurity and related fields the tools needed to grow and succeed nationally and internationally.
The Ryerson-led Brampton Innovation Zone is modelled after and connected to Ryerson University’s world-recognized Zone network
. It is designed to bring people together to brainstorm, kick-start projects, and help take startups from early-stage incubated companies to established thriving businesses. It will open in downtown Brampton early in 2020. Quotes
“The City has worked extensively with the RIC Centre in the past and have a long-standing positive relationship with them. We are thrilled to partner with them as we evolve our innovation ecosystem. Together with them and our other partners, we are building a robust Innovation District, which will allow us to support our entrepreneurs and businesses in every stage of their journey. This partnership is a win-win for all involved – especially our entrepreneurs and business owners. Welcome RIC Centre!”
- Patrick Brown, Mayor, City of Brampton
"Our investment in the RIC Centre is key as we work to advance our Term of Council Priority to build a City of Opportunities and attract businesses, entrepreneurs, and jobs to Brampton.”
- Paul Vicente, Regional Councillor, Wards 1&5; Vice-Chair, Economic Development and Culture, City of Brampton
“With our prime location in the middle of the Innovation Corridor, Brampton is growing its innovation ecosystem with the goal of becoming a global leader in innovation. Our staff are committed to building partnerships and putting the necessary conditions in place to make Brampton an optimal location for entrepreneurs and businesses.”
- David Barrick, Chief Administrative Officer, City of Brampton
“We are thrilled to be moving to Brampton. We have built an excellent relationship with Brampton in our work with them over the past few years, and we are excited about our many new opportunities as we get established in our new location. Downtown Brampton has a great energy – a heartbeat – and we are excited to become a part of the innovation ecosystem that is thriving there.”
- Pam Banks, Executive Director, RIC Centre
“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.”
- Hamid Alemohammad, AOMS co-founder; Former RIC Incubator client who saw 300% revenue growth in 2 years.