Building the next generation of big-data technology
November 27, 2013
Ryerson is the founding academic partner in a new accelerator for entrepreneurs building big data enterprises.
OneEleven, officially launched this week, is Canada’s first accelerator created to address the technical needs of successful, visionary entrepreneurs who will benefit from access to the power of high-performance computing.
“In OneEleven, we’re creating a community where talent and technology collide,” said Bilal Khan, managing director of OneEleven. “OneEleven positions Toronto as a global leader in big data by providing entrepreneurs with the resources they need to accelerate the commercialization of cutting-edge research that will enhance the economic prosperity of the region.”
Co-founded by strategic investments from OMERS Ventures and Ontario Centres of Excellence (OCE), with Ryerson as the founding academic partner, OneEleven is located in the heart of Toronto – 111 Richmond Street West – close to many of the city’s up and coming tech firms.
Ryerson will help develop and support the education component of the accelerator. Qualified startups coming from Ryerson’s zones, including the Digital Media Zone, would be able to graduate to OneEleven if they meet the threshold for admission.
In another Ryerson development on big data, Ann Cavoukian, Ontario’s Information and Privacy Commissioner, is joining Ryerson as a distinguished visiting professor in December. Her academic focus will be on big data and privacy. Cavoukian has an international reputation in the area of privacy, security, technology and rights and is the architect of the Privacy by Design concept.
OneEleven, through curated programming, presents an opportunity for entrepreneurs with proven track records to be part of a peer community that also includes venture capital, industry, academia and government. It will bring people together for the kind of personal interaction that can lead to spontaneous collaborative innovation. Already several promising new tech ventures have set up shop at OneEleven and more will be brought in through an intensive screening and scouting process.
“OneEleven will be a community of the most promising and sophisticated data-driven entrepreneurs and home to some of Toronto's best technology start-ups,” said John Ruffolo, CEO of OMERS Ventures. “OneEleven will allow its member companies to create scalable entrepreneurial opportunities by solving previously unmanageable problems through the aggregated power of high performance computing.”
A key element in the realization of the vision for OneEleven is bringing in academic-based research and bridging the commercialization gap to support the development of solutions to highly complex, big data and time-intensive problems. Ontario Centres of Excellence will use its expertise in the commercialization and innovation space to address this challenge.
“We are going to remove the barriers to entry for big data-related startups by having the expertise and infrastructure they need in one place,” said Tom Corr, president and CEO of OCE. “Ontario has some of the world’s brightest computing minds and the entrepreneurial spirit to develop the next generation of advanced technologies and OneEleven will provide the resources and support to develop the next generation of big data technologies.”
“Through organizations like OCE, our government is fostering innovation and entrepreneurship in all its forms,” said Reza Moridi, Ontario’s Minister of Research and Innovation. “This great partnership between OCE and OMERS, one of Canada’s largest pension funds, will ensure OneEleven is a place where some of Ontario’s most promising, successful and adventurous entrepreneurs will come together to innovate, collaborate and ultimately boost our province’s economy.”