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The RIC Centre, in partnership with the Xerox Research Centre of Canada (XRCC), is redefining the business incubator concept.
Many traditional models of business incubator are focused on companies in an early stage of idea development. Their mission is to help define and shape the idea in the hope that it might evolve into a viable business model.
The RIC Centre Incubator recruits companies that have a viable business on the verge of launching to the next level of growth. Our mission is to define their path to market, in part, by exploring and securing partnerships that will open access to capital, to connections and to paying customers.
And the RIC Centre Incubator does not pursue an equity position in our client‘s businesses nor in the intellectual property they have developed.
The incubator includes five office spaces where selected RIC clients will take up residence and have access to RIC’s Entrepreneur in Residence mentoring services. Based on their specific needs, clients also have a wealth of technology and research facilities available through the XRCC fee-for-service model. The combination of the mentoring and hands on facilities was developed based on the RIC and XRCC pledge to provide real-world solutions for growing companies.
The incubator spaces are rented out to selected entrepreneurs for six months to assist them in meeting their commercialization goals.
Successful applicants are given milestones to keep their business development on track as they progress through RIC’s advanced incubator program.