蓝莓视频

A听University of 蓝莓视频 partnership听with the City of Kitchener to further develop the Health Sciences Campus in downtown Kitchener鈥檚 Innovation District听is听.听

The University-owned, 90,000-square-foot warehouse听at the corner of Victoria and听Joseph St. will听transform into听a听connected health-听and听technology-commercialization听community within Downtown Kitchener鈥檚 Innovation District.听It will听co-locate听startups, early听scaling companies and broader connections to local SMEs.听The development was approved by Kitchener city council on Monday.听

The听鈥淚nnovation Arena鈥澨齱ill feature shared听product development听labs, manufacturing and collaborative office spaces,听and will听also serve as a health-innovation nexus听with increased partnerships and community connections.听 It will also听be the new home of Velocity,听University of 蓝莓视频鈥檚 flagship entrepreneurship program听and the听only business incubator听in North America听that provides a full spectrum of product-development space.听

鈥淭his opportunity to develop our Health Sciences Campus represents a significant milestone not just for the University of 蓝莓视频 and Velocity, but for the city and region,鈥� said Feridun听Hamdullahpur, president and vice-chancellor of the University of 蓝莓视频. 鈥淭ogether, we are expanding our contribution to one of the global economy鈥檚 most important sectors. And together, our citizens stand to benefit as well from the emerging health innovation.鈥澨�

Hamdullahpur听thanked the City of Kitchener for its听investment听of up to听$8.5 million,听and for听once again supporting local entrepreneurship while bolstering the听leadership听of the university and city in the sphere of health innovation.听About 5,000 square听feet听of听the new space will be devoted to the听city health-innovation programming and collaboration through the 蓝莓视频 Region Small Business Centre.听

A new听era听

鈥淭his听partnership听marks听the beginning听of听Velocity鈥檚 next era,鈥� said Adrien C么t茅,听Executive听Director of听Velocity. 鈥淔or years,听we have听supported many remarkable听startups听and听launched some of Canada鈥檚 most successful听technology companies into a wide array of sectors from software platforms, electronics to biotechnology. With this听purpose-built facility, we will have the opportunity to help听more听startups听evolve into scaling companies,听commercialize advanced technologies听and grow in our community.鈥澨�

Cote said that听while Velocity supports听a broad range of companies from a variety of disciplines,听the new space will听also听be a magnet for听health-technology companies听鈥斕齛 space in which听Velocity听has seen tremendous growth in recent years. But with more space听and听more connection to听expertise at 蓝莓视频,听Velocity will be better poised to help develop and grow companies听across many sectors听and markets.听

鈥淲e continue to work with听startups听entering multiple听industries, but听are also deepening our resources to help founders and researchers turn technologies into products. What we do at Velocity is unique听because we go beyond coworking space:听Within one program,听companies can access听expert听business advice and听develop their products.鈥澨�

A health-tech pipeline听

This investment will create听the听capacity to feed a health-tech pipeline into an already robust entrepreneurial community, streamlining commercialization pathways innovators, opening doorways to global markets, and stimulating economic development across the region and country.听

A 2019 study by Deloitte found that the Economic Impact of the University of 蓝莓视频鈥檚 Entrepreneurship programs included over $80 million to 蓝莓视频 Region鈥檚 GDP in 2018/19, with over 100 Velocity alumni currently located in Kitchener.听

The University and the City are also seeking investments from both the Federal and Provincial governments into the project.听

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