Two companies from Ryerson University’s Digital Media Zone set up shop in the GTA
November 03, 2010
Last month’s release of blockbuster hit movie, The Social Network, gave audiences an inside look at how a couple of young, visionary entrepreneurs with an idea would fundamentally change the way we communicate thanks to their digital networking innovation called Facebook. This month Ryerson University’s Digital Media Zone (DMZ) follows a similar storyline with the announcement of its first two graduating companies, both social networking ventures.
Real-time photo sharing application Burstn and group buying site TeamSave are the DMZ’s first graduate success stories. These two teams are among the 14 businesses launched at the DMZ since its doors opened in April 2010.
Both Burstn and Teamsave are moving out of the DMZ’s collaborative development environment and establishing their successful operations elsewhere. Burstn is currently recruiting for five new positions and readying an iPhone re-release of the app, thanks to a recently acquired capital investment. TeamSave quickly outgrew the DMZ space. With a current team of 12 young people, they are fully established in Toronto, just launched in Buffalo and eyeing the Ottawa and Rochester markets.
“These two start-ups have taken an idea from concept to reality to the first level of success in just a matter of months, which is an incredible turnaround time,” said Valerie Fox, Director, Digital Media Zone. “That’s really what we’re doing here at the DMZ: removing some of the barriers that new start-ups face, so our entrepreneurs can focus on getting their products out the door. Both Burstn and TeamSave were with us at the beginning, so this marks a major milestone for the DMZ.”
Opened in April 2010, Ryerson University’s Digital Media Zone (DMZ) is a transdisciplinary workspace for young entrepreneurs infused with the energy and resources of downtown Toronto. Set atop Yonge-Dundas Square, this hub of digital media innovation, collaboration and commercialization is home to both entrepreneurial start-ups and industry solution-providers. With access to overhead and business services, students and alumni can fast-track their product launches, stimulating Canada’s emerging digital economy through spending and job creation. In its first year of operations, the DMZ helped more than 80 entrepreneurs to launch 14 companies. For more information on the DMZ, visit www.ryerson.ca/dmz.
Ryerson University is Canada's leader in innovative, career-oriented education and a university clearly on the move. With a mission to serve societal need, and a long-standing commitment to engaging its community, Ryerson offers close to 100 undergraduate and graduate programs. Distinctly urban, culturally diverse and inclusive, the university is home to 28,000 students, including 2,000 master's and PhD students, nearly 2,700 tenured and tenure-track faculty and staff, and more than 130,000 alumni worldwide. Research at Ryerson is on a trajectory of success and growth: externally funded research has doubled in the past four years. The G. Raymond Chang School of Continuing Education is Canada's leading provider of university-based adult education. For more information, visit www.ryerson.ca.
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