University of Toronto and RBC to Open Startup Incubator for Young Entrepreneurs

Young Toronto entrepreneurs will soon have a collaborative workspace inspired by incubators in the Silicon Valley where they’ll be able to work alongside other ambitious engineers and innovators.

The University of Toronto (U of T) has teamed up with the Royal Bank of Canada (RBC) to create ONRamp, an initiative that will assist Canada’s forward-thinking business-starters.

Located in Toronto’s Banting & Best Centre for Innovation & Entrepreneurship (BBCIE), students, entrepreneurs, and startup companies alike will have access to collaborative workspaces that will provide them with the support they need to develop and foster their ideas.

ONRamp is spread out over three floors set up so innovators can not only network, but also showcase their ideas to potential investors.

“U of T is a global leader in transforming innovative ideas into products, services, companies and jobs,” said Meric Gertler, President of the University of Toronto. “With RBC’s support, this new initiative will further expand the university’s entrepreneurial efforts and help ensure our nation remains competitive by keeping talented innovators in Canada.”

RBC has generously donated $3 million to ONRamp, which will also go towards fellowships, prizes, a speaker series, and the overall enhancement of the university’s entrepreneurship ecosystem.

“We have some of the brightest and best ideas emerging from our universities, but too frequently our young entrepreneurs have to look abroad to get their businesses off the ground. ONRamp should help change that,” said Bruce Ross, group head of technology and operations at RBC.

“This initiative will provide the perfect environment to help these innovative start-ups develop and, importantly, to stay in Canada. We are delighted to be partnering with the University of Toronto on this exciting program.”

Ambitious entrepreneurs also have access to RBC’s new Innovation Hub located within the ONRamp facility, which will welcome incubating startups.

Welcome to Silicon Valley North.