York Region invests in ventureLAB to help entrepreneurs, companies

Region allocates $100K to non-profit innovation centre

Yorkregion.com
Oct. 8, 2015
By Lisa Queen

York Region is investing in innovation.

The region has allocated $100,000 to Markham-based ventureLAB to help entrepreneurs and companies bring their ideas, products and services to the marketplace.

The non-profit regional innovation centre connects innovators, technology-based businesses, entrepreneurs and researchers to help grow successful businesses.

With 49,000 businesses in York, providing funding to ventureLAB is a good investment, regional chairperson Wayne Emmerson said.

“As the second-largest business centre in Ontario, York Region recognizes new and existing enterprises are essential to York Region’s economic vitality,” he said.

“York Region will continue to help ventureLAB contribute to regional economic growth and job creation.”

Businesses appreciate the role ventureLAB plays in delivering support for new, high-tech products and services, Vaughan Councillor Michael Di Biase, chairperson of the region’s planning and economic development, said.

“It acts as a catalyst and harnesses a wealth of intellectual and technical resources for the benefit of all businesses in York Region,” he said.

ventureLAB provides direct-to-business services that are well-matched with the strengths of York’s economy, the region said.

For example, it leads or supports meetings and discussions aimed at fostering collaboration or partnerships within the region’s information and communications technology sector.

ventureLAB is funded by the federal and provincial governments, the City of Markham and other stakeholders such as York University.