Ontario Premier Doug Ford announced Thursday the province will help build a new “innovation arena” in Waterloo, a major centre for Canada’s tech industry.
The arena will be an incubator for new companies and a research facility. It will bring together researchers and entrepreneurs to develop new health technology and commercialize it.
“It will accelerate the development and commercialization of Made in Ontario technologies,” Ford said at a press conference in Waterloo. He said the idea is to make it easier for “homemade innovations to enter the Ontario health system.”
The 90,000-square-foot facility will cost $35 million, and the cost will be split by the University of Waterloo, the City of Kitchener, the Federal Economic Development Agency for Southern Ontario, and a newly announced $7.5 million from the government of Ontario….