TORONTO, Nov. 26, 2013 – Entrepreneurs building big data enterprises have a new community to call home.
oneeleven is Canada’s first accelerator created to address the technical needs of successful, visionary entrepreneurs who will benefit from access to the power of high performance computing.
“In oneeleven, we’re creating a community where talent and technology collide,” said Bilal Khan, Managing Director of oneeleven. “oneeleven positions Toronto as a global leader in big data by providing entrepreneurs with the resources they need to accelerate the commercialization of cutting-edge research that will enhance the economic prosperity of the region.”
Co-founded through strategic investments by OMERS Ventures and Ontario Centres of Excellence (OCE), with the recent addition of Ryerson University as the founding academic partner, oneeleven is located in the heart of Toronto close to many of the city’s up and coming tech firms. It shares an address with Google Canada and will form the eastern anchor of a Toronto-Waterloo tech corridor.
Unlike traditional accelerators, oneeleven, through curated programming, presents an opportunity for entrepreneurs with proven track records to be part of a peer community that also includes venture capital, industry, academia and government. It will bring people together for the kind of personal interaction that can lead to spontaneous collaborative innovation, taking them out of the basement and into the boardroom. Already several promising new tech ventures have set up shop at oneeleven and more will be brought in through an intensive screening and scouting process.
“oneeleven will be a community of the most promising and sophisticated data-driven entrepreneurs and home to some of Toronto's best technology start-ups,” said John Ruffolo, CEO of OMERS Ventures. “oneeleven will allow its member companies to create scalable entrepreneurial opportunities by solving previously unmanageable problems through the aggregated power of high performance computing.”
A key element in the realization of the vision for oneeleven is bringing in academic-based research and bridging the commercialization gap to support the development of solutions to highly complex, data and time-intensive problems. Ontario Centres of Excellence will use its expertise in the commercialization and innovation space to address this challenge.
“We are going to remove the barriers to entry for big data-related startups by having the expertise and infrastructure they need in one place,” said Dr. Tom Corr, President and CEO of OCE. “Ontario has some of the world’s brightest computing minds and the entrepreneurial spirit to develop the next generation of advanced technologies and oneeleven will provide the resources and support to develop the next generation of big data technologies.”
“Through organizations like OCE, our government is fostering innovation and entrepreneurship in all its forms,” said Reza Moridi, Ontario’s Minister of Research and Innovation. “This great partnership between OCE and OMERS, one of Canada’s largest pension funds, will ensure oneeleven is a place where some of Ontario’s most promising, successful and adventurous entrepreneurs will come together to innovate, collaborate and ultimately boost our province’s economy.”
About oneeleven (www.oneeleven.com)
Co-founded by OMERS Ventures and Ontario Centres of Excellence, Oneeleven (Twitter: @oneeleven_111) is a not-for-profit community of the most promising and sophisticated data-driven entrepreneurs and home to some of Toronto's best technology start-ups. By convening a powerful network of venture capital, industry, academia and government, Oneeleven is bridging the gap between research and commercialization. Supporting SMEs in the development of solutions to highly complex, data and time-intensive problems. This collision of talent and technology will position Toronto as a global leader in the big-data economy.
About OMERS Ventures (www.omersventures.com)
OMERS Ventures (Twitter: @OMERSVentures) is the venture capital investment arm of OMERS, one of Canada's largest pension funds with nearly $61 billion in net assets. It is an initiative of OMERS Strategic Investments (OSI), an investment entity with a mandate to build long-term strategic relationships with like-minded partners. As both an institutional angel investor and a later-stage investor, OMERS Ventures is looking for successful companies with significant growth potential and market opportunities. We are seeking like-minded partners with a shared vision of building a vibrant and successful knowledge economy. For more information please visit www.omersventures.com
About Ontario Centres of Excellence (OCE) Inc. (www.oce-ontario.org)
Ontario Centres of Excellence (OCE) drives the commercialization of cutting-edge research across key market sectors to build the economy of tomorrow and secure Ontario’s global competitiveness. In doing this, OCE fosters the training and development of the next generation of innovators and entrepreneurs and is a key partner with Ontario’s industry, universities, colleges, research hospitals, investors and government ministries. A champion of leading-edge technologies, best practices and research, OCE invests in sectors such as advanced health, information and communications technology, digital media, advanced materials and manufacturing, agri-food, aerospace, transportation, energy, and the environment including water and mining. OCE is a key partner in delivering Ontario’s Innovation Agenda as a member of the province’s Ontario Network of Entrepreneurs (ONE). Funded by the Government of Ontario, the ONE is made up of regional and sector-focused organizations and helps Ontario-based entrepreneurs and industry rapidly grow their company and create jobs. For more information visit www.onebusiness.ca
Manager, Media Relations, Ontario Centres of Excellence
416-861-1092 x 1022
Director, Media Relations, OMERS Ventures