A program that helps Sudbury entrepreneurs grow and scale their businesses has been extended to run until 2026.
Announced four years ago, the Business Incubator Program was aimed at guiding early-stage companies in commercializing new products or services, generating early revenue, raising capital, and building managerial capacity.
It officially launched in 2022, in office space in downtown Sudbury dubbed Innovation Quarters.
Since then, the city said in a news release, the program has supported 42 companies and 51 local entrepreneurs; helped 25 businesses start, expand or sustain their operations; and contributed to the creation of 65 full-time equivalent jobs.
“It’s inspiring to see this program continue to provide vital support to local entrepreneurs, especially at a time when their success is so crucial to our community,” Greater Sudbury Mayor Paul Lefebvre said in a news release.
“By equipping businesses with the tools they need to grow and succeed, we are strengthening our local economy and fostering innovation. As the program evolves to better serve entrepreneurs, it will continue to empower businesses, create opportunities and drive growth in Greater Sudbury.”
Starting in May, the program will relocate to the Regional Business Centre, located at Tom Davies Square (the home of city hall).
The city said the reasoning behind the move is a “response to client needs, and as an opportunity for more efficient use of resources.”
This change will be more cost-effective and there would be no disruption to the delivery of services, the city added.
