Canada's innovators and technology startups are set to play an increasingly important role in the future of Canada's economic prosperity as emerging technology such as artificial intelligence, machine learning and big data transform the global economy. A key factor determining their success will be how effectively they deliver their ideas to the market and scale. To help bridge this gap, RBC is proud to announce its new multi-year investment and collaboration with OneEleven, an innovation hub focused on helping high-growth tech startups commercialize their ideas and scale their operations.
This new collaboration will help OneEleven improve its ability to support the country's top startups. As a direct result of RBC's investment, OneEleven can increase accessibility to its environment, services and networks. Other elements of the collaboration include joint events and programming, startup support services, networking and investment opportunities.
“Enabling and empowering Canada's innovators is critical to our country's long term prosperity, which is why we're proud to collaborate with OneEleven and support Canada's fastest growing tech companies”, says Greg Grice, Executive Vice-President of Business Financial Services at RBC. “RBC understands tech companies have a unique set of needs and one of the greatest challenges they face is scaling ideas. Through this collaboration with OneEleven, we're pleased to be able to support these entrepreneurs and help position Canada as a global leader in technology and innovation.”
With the grand opening of its new 250,000 square foot innovation hub at 325 Front Street West in Toronto, OneEleven has increased its capacity by nearly four times. From this site, Canada's most promising technology startups, influential thought-leaders and disruptive corporate associates receive help with business development, additional fundraising and talent recruitment and retention.
“This collaboration between RBC and OneEleven will contribute directly to Canada's future positioning as a leader in the global innovation ecosystem,” says Bilal Khan, Managing Director of OneEleven. “With the support of our allies, OneEleven is providing talented individuals with the resources and connections they need to grow and scale successful tech companies and create real impact.”
RBC has a long standing focus on the technology sector in Canada. For more than 30 years, RBC has provided tailored advice to help innovators start, manage and grow their business.
“We're excited to see RBC support startup ecosystem players like OneEleven,” says Albert Lai, co-founder and CEO of OneEleven alumni company Big Viking Games. “Our recent debt financing round from RBC is just one example of how a top-tier bank can support high-growth technology companies. RBC is definitely one of the front-runners when it comes to corporate innovation.”