Sudbury business incubator ready to welcome first startups

The City of Greater Sudbury has opened applications for Innovation Quarters, its new business incubation program.

The 12-month program will provide new, tech-based startups with affordable office space in the city's downtown core, with the goal of introducing up-and-coming businesses to Sudbury as part of the city's Economic Recovery Strategic Plan.

Jose Pharand, the Business Development Officer for the City of Greater Sudbury, said the program offers more than just a convenient place to work.

"It's more than just a space. We're looking to really create an environment where people engage in programming," she said.

"It's a growth program where people will have access to training, one on one coaching, mentorship, networking opportunities."

Pharand said the city is inviting "tech-enabled" companies to apply to the program, meaning companies that use technology platforms to be more efficient.

"When looking at some of the more popular types of companies that you could think of, I would consider UberEats, Airbnb, perhaps, real estate apps," Pharand said. "The type of companies that are using technology to deliver a different type of product or service to their customers."

Move startups through growing pains, quicker

Pharand said the idea is to help accelerate the startup process for small companies, which can take years before turning positive cash flow.

"Essentially it's getting them to move through that startup phase a little quicker with additional tools and reducing the barriers that typically come with getting a startup off the ground," she said.

"Within 12 months, we hope that they'll graduate and then look at other spaces potentially in the downtown core or other real estate opportunities in the city, and gain jobs and continue to grow the business once they've graduated."

If accepted into the program, businesses are expected to pay a monthly membership fee of $300 plus $50 per work station. Pharand estimates that it carries a value of approximately $25,000.

"It's a growth program where people will have access to training, one on one coaching, mentorship, exclusive networking opportunities, and so much more."

The end result, Pharand said, will hopefully be a rejuvenated downtown core, an area of the city that has seen its share of businesses leave since the pandemic.

"By bringing in 12 companies at full capacity, we are going to be encouraging foot traffic," she said. "Not only that, companies will bring clients to the incubator, but we're hoping that those companies will also meet and have coffee, lunch meetings, go shopping."

"We want to create an environment where people are encouraged to really immerse themselves in the downtown."