INNOVATION RESOURCE GUIDE Burlington Economic Development Corporation 414 Locust St, Burlington, Ontario, L7S 1T7 bedc.ca 1
Introduction Burlington has been consistently ranked as one of Canada s Best Places to Live. In 2017, MoneySense rated Burlington as the best mid-sized city to live in Canada. Situated at the northwestern end of Lake Ontario, Burlington is a city in the Regional Municipality of Halton. Along with Milton to the north, Burlington forms the west end of the Greater Toronto Area. Economically, Burlington is strategically located near the geographic centre of the Golden Horseshoe, a densely populated and industrialized region of over 8 million people. Economic Development Burlington Economic Development Corporation s (BEDC s) priority is to lead, facilitate and advance Burlington s efforts for continued economic growth and diversification, job creation and revitalization, entrepreneurship and innovation throughout the city. BEDC recently launched TechPlace to help businesses better connect with resources and programs that are available. This service pack serves to help guide your businesses through some of the resources that are available to help you innovate and connect to the larger innovation ecosystem. The purpose of this document is to provide an overview of the resources available in the innovation ecosystem that connects Burlington with Toronto, Hamilton, and Waterloo, and highlight some of the competitive advantages of locating and expanding your business. In the pages that follow, you will find information on: The entrepreneurs and businesses that are driving innovation and shareholder return The presence of world-class academic and research centres that are supporting businesses The Region s large, high-quality talent pool Business and labour costs Access to capital Connective infrastructure and community Government support Contact details BEDC SMALL BUSINESS PACK 2
Be a Part of the World Class Business Community in the Toronto-Waterloo Innovation Corridor Burlington has over 885 start-ups and is well-connected as part of an innovation, technology, and postsecondary network. Burlington is proud to be a part of the Toronto-Waterloo Innovation Corridor: Canada s Technology Engine. This area is composed of four urban centres, has over 15,000 high-tech companies and over 205,000 tech workers. onto-waterloo Innovation Corridor today:. BURLINGTON BEDC SMALL BUSINESS PACK 3
The Toronto-Waterloo Innovation Corridor has the highest equity value of tech companies in Canada Source: Compass, 2015 BEDC SMALL BUSINESS PACK 4
The Innovation Corridor has a strong presence of world-class academic and research centres. Hamilton s McMaster University (ranked in the top 100 universities globally) has the country s leading industrysponsored research programs. The University of Guelph is a leader in ag-biotech and global agricultural research. The University of Toronto (ranked in the top 25 universities globally and the top 50 most innovative universities in the world) and its partner hospitals raised the most research funding of any university in Canada, totaling $1.1 billion in 2016. The University of Waterloo has the world s largest co-op education program. Waterloo is also the #1 Canadian university for venture-capital-backed student businesses. BEDC SMALL BUSINESS PACK 5
These world-class academic and research centres support Burlington business innovation and growth Here are just a few examples. Sheridan College Institute of Technology and Advanced Learning are partnering with m-health Solutions (Burlington) to develop electrocardiogram (ECG) applications delivery. The University of Waterloo and CedarLane (Burlington) are partnering to research and develop new products for fish aquaculture to provide high-quality research and diagnostic reagents to the life sciences community. Mohawk College of Applied Arts and Technology are partnering with Basadur Applied Creativity (Burlington) to create web-based problem-solving tools. BEDC SMALL BUSINESS PACK 6
These world-class academic and research centres support Burlington business innovation and growth The University of Waterloo and Natrix Separations Inc. (Burlington) are partnering to improve chromatography products used in separation of mixtures in life science, pharmaceuticals and beverage markets. Vanchem Performance Chemicals (Burlington) and Brock University are partnering to develop silane-based anticorrosion coatings. The University of Waterloo and EcoSynthetix (Burlington) are partnering to develop and commercialize EcoSynthetix s flagship product EcoSphere, a bio-based latex material derived from starch in corn or tapioca. BEDC SMALL BUSINESS PACK 7
The Innovation Corridor has a large, high-quality talent pool with a highlyeducated population of over 15,000 high-tech companies and over 205,000 tech workers. Post-Secondary Educational Attainment (%) Select Markets, 2015 (Age 25-64) Note: Not all jurisdictions count apprenticeship as post-secondary education. Source: Statistics Canada and OECD, 2016 BEDC SMALL BUSINESS PACK 8
The Innovation Corridor has low business and labour costs. Overall Business Costs Index (U.S. = 100) Source: MEDEI/MRI Analysis, prepared using CompetitiveAlternatives.com Cost Model, 2016 Edition Average Salary of a Software Engineer (USD) Source: Scoring Tech Talent, CBRE, 2017 BEDC SMALL BUSINESS PACK 9
The Innovation Corridor has access to capital through an extensive venture capital (VC) and private equity (PE) network. 90 + 535 $3.2BN VC Organizations in Ontario VC Deals in Canada (2016) VC Deal Value in Canada (2016) Select Venture Capital Organizations Angel One Investor Network is a member-based, not-forprofit organization of accredited investors who live, work or have strong interests in Mississauga, Oakville, Burlington, Hamilton and other communities in Southern Ontario. Angel One provides venture capital to entrepreneurs and start-ups that are at an early stage but have a solid, credible plan for high growth and a dedicated management team to execute it. The Ontario Venture Capital Fund is a joint initiative between the Government of Ontario and leading institutional investors. The fund is managed by Northleaf Capital, a leading Canadian private fund manager that invests primarily in Ontariobased and Ontario-focused venture capital and growth equity funds, which in turn support innovative, high-growth companies predominantly in Ontario. BEDC SMALL BUSINESS PACK 10
The Innovation Corridor offers access to capital through an extensive venture capital (VC) and private equity (PE) network. Venture Capital Investment in the Greater Toronto Area, 2013 Source: Martin Prosperity Institute, 2013 BEDC SMALL BUSINESS PACK 11
The Innovation Corridor offers connective infrastructure and community support for innovation. There is a critical mass of clusters and incubators for your business to connect into. We can help you connect into the one that fits what you re looking for. Select Business Support Organizations Haltech is a not-for-profit Regional Innovation Centre (RIC) funded by the Ontario Network of Entrepreneurs and is located at TechPlace in Burlington, Ontario. Haltech helps tech companies transform ideas and innovations into well-positioned, growing ventures through business advisory services and mentorship. TechPlace is a one-stop destination for new and growing technology companies located in Burlington. Led by BEDC and with support from partners across the public and private sectors, TechPlace is dedicated to connecting, developing, and advancing entrepreneurs at all stages. TechPlace provides access to space, programming, mentorship, networking and resources to new and growing technology companies. MaRS is in Toronto. It is the world s largest urban innovation hub, a place where today s moonshots become tomorrow s breakthroughs. It s a launch pad for start-ups, a platform for researchers and a home to innovators. BEDC SMALL BUSINESS PACK 12
The Innovation Corridor is supported by a forward-thinking government that helps to drive innovation and results. Federal Support SR&ED tax fgrgfd incentives The Federal Budget 2017 proposes: To invest up to $950 million over five years to support business-led innovation superclusters that have the greatest potential to accelerate economic growth To make available up to an additional $400 million through the Business Development Bank of Canada on a cash basis over three years for a new Venture Capital Catalyst Initiative To make more than $2.2 billion on a cash basis available to support clean technology research, development, demonstration and adoption. The Scientific Research and Experimental Development (SR&ED) tax incentive program is the largest single source of federal government support designed to encourage research and development (R&D) in Canada. Each year, the SR&ED program provides over $4 billion in investment tax credits (ITCs) to over 18,000 claimants. Of these, about 75% are small businesses. IRAP fgrgfd The Industrial Research Assistance Program (IRAP) supports innovative technology development projects that enhance processes and products and boost market competitiveness. Research grants can potentially provide up to 50-80% financial reimbursement to offset internal project labour and Canadian third-party consulting fees to a maximum $50,000 $500,000 per year. Example The federal government has invested $75 million in Burlington's L-3 Wescam for research and development of its new high-tech air, land and sea surveillance cameras and sensors. The federal government s repayable contribution is provided through its Strategic Aerospace and Defence Initiative (SADI). BEDC SMALL BUSINESS PACK 13
The Innovation Corridor is supported by a forward-thinking government that helps to drive innovation and results. Provincial Support Jobs and fgrgfd Prosperity Fund The Jobs and Prosperity fund is a the 10-year, $2.7-billion fund that helps the government partner with businesses to enhance productivity, innovation and exports. Ontario Centres of Excellence (OCE) offers a suite of programs designed to leverage the full capacity of Ontario s research institutions. By helping Ontario s technology-based companies commercialize research discoveries, they help create jobs and drive prosperity. Their program suite covers three key areas: Industry-Academic R&D Collaboration, Commercialization, and Entrepreneurship. Local Support Burlington Economic Development: Access to resources through business and innovation networks Provide industry, economic, and community benchmarking analysis Access to talent through educational and workforce development networks Complimentary services for businesses Answer all questions on investment and locating in Burlington Facilitate interactions with all levels of government Connect clients to sector experts, business to business linkages, and professional service providers Provide guidance on site location and selection Liaise with the local real estate community BEDC SMALL BUSINESS PACK 14
Contacts Post-Secondary Institutions Brock University 1812 Sir Isaac Brock Way St. Catharines, Ontario, L2S 3A1 T: 905-688-5550 x 4636 https://brocku.ca/ McMaster University 1280 Main Street West Hamilton, Ontario, L8S 4L8 T: 905-525-9140 http://www.mcmaster.ca/ Mohawk College 135 Fennell Avenue West Hamilton, Ontario, L9C 0E5 T: 905-575-1212 https://www.mohawkcollege.ca/ Sheridan College 7899 McLaughlin Road Brampton, Ontario, L6Y 5H9 T: 905-459-7533 https://www.sheridancollege.ca/ University of Guelph 50 Stone Road East Guelph, Ontario, N1G 2W1 T: 519-824-4120 https://www.uoguelph.ca/ University of Toronto 27 King's College Circle Toronto, Ontario, M5S 1A1 T: 416-978-2011 https://www.utoronto.ca/ University of Waterloo 200 University Avenue West Waterloo, Ontario, N2L 3G1 T: 519-888-4567 https://uwaterloo.ca/ BEDC SMALL BUSINESS PACK 15
Contacts Businesses Basadur Applied Creativity 1850 Old Waterdown Road Burlington, Ontario, L7R 3X5 T: 905-690-4903 http://www.basadur.com/ Cedarlane Laboratories 4410 Paletta Court Burlington, Ontario, L7L 5R2 T: 1-800-268-5058 https://www.cedarlanelabs.com/ EcoSynthetix 3365 Mainway Burlington, Ontario, L7M 1A6 T: 905-335-5669 http://ecosynthetix.com/ m-health solutions 3190 Harvester Road, Suite 203 Burlington, Ontario, L7N 3T1 T: 1-888-636-0182 http://www.m-healthsolutions.com/ Natrix 5295 John Lucas Drive, Unit 6 Burlington, Ontario, L7L 6A8 T: 905-319-2682 http://www.natrixseparations.com/ Vanchem Performance Chemicals 4387 Corporate Drive Burlington, Ontario, L7L 5T9 T: 905-336-1445 http://www.vanchem.com/ L3 Wescam 649 North Service Road West Burlington, Ontario, L7P 5B9 T: 905-633-4000 https://www.wescam.com/ BEDC SMALL BUSINESS PACK 16
Contacts Support Partners Angel One Investor Network 5500 North Service Road, Suite 801 Burlington, Ontario, L7L 6W6 T: 905-630-2200 angelonenetwork.ca Burlington Economic Development Corporation 203-414 Locust Street Burlington, Ontario, L7S 1T7 T: 905-332-9415 www.bedc.ca Government of Canada - IRAP 903-55 St. Clair Avenue East Toronto, Ontario, M4T 1M2 T: 1-877-994-4727 www.nrc-cnrc.gc.ca/eng/irap Government of Canada - SR&D Canada Revenue Agency SR&ED Division 100-1 Front Street West Toronto, Ontario, M5J 2X6 T: 416-973-1717 www.canada.ca/en/revenueagency/services/scientific-research-experimentaldevelopment-tax-incentive-program.html Haltech 5500 North Service Road, Suite 801 Burlington, Ontario, L7L 6W6 T: 289-337-5505 x 107 www.haltech.ca Ontario Venture Capital Fund 79 Wellington Street West, 6th Floor, Box 120 Toronto, Ontario, M5K 1N9 T: 1-866-964-4141 www.ovcf.com Province of Ontario - Jobs and Prosperity Ministry of Economic Development, Employment and Infrastructure Communications and Marketing Branch 8th Floor, Hearst Block 900 Bay Street Toronto Ontario, M7A 2E1 T: 1-866-668-4249 www.ontario.ca/page/jobs-and-prosperity-fund Province of Ontario - Ontario Centres of Excellence 300-325 Front Street West Toronto, Ontario, M5V 2Y1 T: 1-866-759-6014 www.oce-ontario.org TechPlace 5500 North Service Road, Suite 801 Burlington, Ontario, L7L 6W6 T: 289-337-5505 www.techplace.ca MaRS 401-101 College Street Toronto, Ontario, M5G 1L7 T: 416-673-8100 www.marsdd.com BEDC SMALL BUSINESS PACK 17
INNOVATION RESOURCE GUIDE Burlington Economic Development Corporation 414 Locust St, Burlington, Ontario, L7S 1T7 bedc.ca BEDC SMALL BUSINESS PACK 18