So what is this digital media Hub? In a nutshell it is an initiative by the Government of Ontario found in the Waterloo region. It will help bring hardware and software entrepreneurs together to being new tools, tech and applications to market.
With Ontario’s digital media generating over $1 billion a year and quickly growing they will invest $26.4 million to launch what is called The Communications Hub: Digital Media& Mobile Accelerator.
So the Hub will focus on commercialization, business development, financing and connecting clients with other digital hubs across Canada. It will have state-of-the-art research and development tools, lab space along with support and equipment provided by the leaders in the industry like Open Text Corp, Christie Digital Systems Canada, Intel, Agfa Healthcare and Research in Motion.
The Hub is a joint partnership between government, industry and academia with Ontario funding 24% of the $107 million for the project with the rest coming from the private sector, other levels of government and so on. Some of the Academic institutions that are already on board in some fashion are the University of Waterloo and the Stratford Institute, Conestoga College, Wilfrid Laurier University, and the Ontario College of Art and Design.
This is a continuation of Ontario’s Innovation Agenda to help be a leader in the digital world. What this means is greater access for start ups and other firms to do the research and development in conjunction with school s and leaders so they bring their innovative products to market faster.
So on this weekend I think everyone in the tech industry in Toronto and all throughout the province need to raise a glass to this new project and hopefully this will ensure a lasting technology legacy for the province.
For more information see the full press release click here but most of it is covered in this article.