Sudbury’s new business incubator is now accepting applications from prospective tenants.
Innovation Quarters, located in the city’s downtown, will specialize in helping early-stage tech-enabled companies commercialize new products or services, generate revenue, raise capital, and build managerial capacity.
Announced last spring, the incubator is housed in a 5,000-square-foot space in Commerce Centre at 43 Elm Street, which is anchored by TD Bank.
The project is a partnership of the Greater Sudbury Development Corp., NORCAT, and the Greater Sudbury Chamber of Commerce. The Regional Business Centre will provide programming.
Funding for the initiative comes through the GSDC, the Chamber and FedNor.
“After months of planning and preparation, we can’t wait to welcome our first round of entrepreneurs to the Innovation Quarters later this spring,” said Lisa Demmer, chair of the Greater Sudbury Development Corporation’s (GSDC) board of directors, in an April 19 news release.
“This collaborative space will provide our local innovators with essential skills, connections, mentorship and learning opportunities to help them propel their business forward.
"We are proud to support the establishment of this new incubator as a strategic initiative meant to stimulate economic growth, job creation and revitalization of the city’s downtown.”
Over the course of 12 months, eligible entrepreneurs will have access to office space, mentorship from community leaders, networking opportunities, workshops and seminars, marketing and media exposure, and collaboration opportunities with local innovators.
After three years, the centre is projected to support more than 30 startups, help produce 30 new products and services, and create up to 60 jobs.
Interested entrepreneurs will need to go through a multi-stage application process, which runs now until May 15. The first cohort will start on June 20.
Two public information sessions about the program will be held virtually on April 26 and May 11.
For more information, call Innovation Quarters at 705-688-3918.
