Brampton city council has approved a partnership with the Founder Institute (FI), a global accelerator firm providing support to high-potential, early-stage companies.
The partnership includes funding of up to $30,000 per year, for three years, to the Founder Institute.
The addition of the FI is another step towards building Brampton’s downtown Innovation District that will provide supports for entrepreneurs and businesses through every stage of their journey. Expanding the City’s Innovation District is a key goal in the City’s Economic Recovery Strategy.
“As we emerge from this pandemic and restart our local economy, we welcome entrepreneurs and potential investors to locate in our city and join our growing Innovation District,” said Brampton Mayor Patrick Brown. “The Founder Institute will help us attract international startups to Brampton, which will contribute to our economy and create jobs.”
FI provides support to companies through specialized programming, training courses, access to funding and introductions to a world-class mentor network. FI has graduated more than 4,300 companies that have raised over $950M, and has helped create approximately 25,000 jobs globally.
Other benefits of the partnership include:
- Program expansion; bringing tech entrepreneurs from Waterloo, Toronto and the surrounding regions into Brampton
- Scholarships for Brampton Entrepreneurs participating in the program
- Lead generation of international startups and investors
- Supporting the City’s Foreign Direct Investment efforts through international FI chapters
- Helping profile Brampton through the Global FI network
- Developing a dedicated cybersecurity stream and programming for cybersecurity startup founders
- Creating a mentor network composed of investors, entrepreneurs and executives
Other partners in Brampton’s Innovation District include the Brampton Entrepreneur Centre; the Catalyst Cyber Accelerator (led by Rogers Cybersecure Catalyst and Ryerson DMZ); the Research Innovation Commercialization (RIC) Centre; Ryerson Venture Zone; the Brampton Board of Trade and the Downtown Brampton Business Improvement Area (BIA).