AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
On February 24, 2016 the Premier of Ontario announced an agreement with IBM Canada and Ontario Centres of Excellence (OCE) to help up to 500 small and medium-sized enterprises (SMEs) create jobs, embrace next-generation technologies, and compete in the global marketplace. Under this deal the provincial government will invest up to Can.$22.75 million (US$17.95 million) through the Jobs and Prosperity Fund in the IBM Innovation Incubator (I3) Project. The I3 Project will help SMEs fast-track the launch of new technologies and products to international clients and increase the province's knowledge economy. Participating businesses will leverage IBM's technical resources, including cognitive business technology and a cloud-based development platform, as well as its physical space and network of customers to reduce the cost of developing new technologies and help their companies grow and succeed. OCE will oversee the operations of the I3 Project and coordinate partnerships with industry.
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