The Regional Municipality Of York

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York Region renews and expands partnership with ventureLAB



$250,000 agreement increases funding to develop new ideas and business innovations

Newmarket – York Regional Council has renewed its partnership agreement with ventureLAB, increasing annual core funding to $150,000 and introducing an additional one-year $100,000 investment through the Region’s Entrepreneurship and Innovation Fund.

Regional Innovation Centres such as ventureLAB develop and deliver support programs and services that target technology-based entrepreneurs starting and growing global enterprises.

“Supporting the growth of innovative and disruptive businesses is critical to the future economic prosperity of our communities,” said York Region Chairman and CEO Wayne Emmerson. “The renewed agreement and additional funding to ventureLAB reinforces our Council’s commitment to creating jobs and helping local business succeed.”

York Region has invested more than $800 thousand since 2011 to support ventureLAB. Some outcomes of this partnership include:

  • Assisted 2,000 businesses create over 3,500 jobs
  • Helped more than 100 companies raise over $103 million in private and public investments
  • Engaged 158 local businesses through one-on-one growth advisory services
  • Collaborated with MaRS and Communitech for an advanced manufacturing supercluster called Next Generation Manufacturing Canada (NGEN Canada)

“ventureLAB and the innovation support system in York Region helps entrepreneurs, businesses and researchers commercialize their ideas,” said City of Markham Regional Councillor Jim Jones, Chair of Planning and Economic Development. “Increased investment supports the overall growth and success of ventureLAB, and in turn helps to create jobs in multiple business areas across all nine cities and towns.”

York Region’s Economic Development Action Plan identifies a number of areas where ventureLAB plays a direct role in supporting business commercialization services and new business formation. The goals achieved through this partnership will be reported to Regional Council in 2020.

The Regional Municipality of York consists of nine local cities and towns and provides a variety of programs and services to 1.2 million residents and 52,000 businesses with over 636,600 employees. More information about the Region’s key service areas is available at york.ca/regionalservices


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Media Contact:

Kylie-Anne Doerner, Corporate Communications,
The Regional Municipality of York
Phone: 1-877-464-9675, ext. 71232
Cell: 905-716-6035
Email: kylie-anne.doerner@york.ca

York Region; VentureLAB; partnership; The Regional Municipality of York en-US Media Release