TORONTO – The Digital Media Zone at Ryerson University (DMZ) is calling 2013 its best year so far after raising $24.5 million in seed funding and adding 48 new start-ups.
The DMZ is one of Canada's largest incubators and multidisciplinary co-working spaces for young entrepreneurs and is home to both start-ups and industry solution-providers. By offering experiential learning and business success through an ecosystem of education and entrepreneurship, emerging leaders may fast-track their product launches and grow their companies by connecting with mentors, customers and each other.
DMZ start-ups and alumni companies attracted $24.5 million in seed funding last year from sources including DMZ Investments, a seed-stage fund established by Ryerson University for-profit entity Ryerson Futures. The 48 new companies bring to 123 the number of start-ups that have joined the DMZ since its launch in 2010, creating and fostering more than 900 jobs. Of those companies, 70% are still flourishing or have been successfully acquired.
“In 2014 we hope to explore more corporate partnerships and relationships with other incubators, more international outreach and collaborating with new Ryerson zones being cultivated in specific areas such as fashion, design fabrication, food and social innovation”, said DMZ executive director Valerie Fox, in the news release. “All together this means a richer, more developed entrepreneurial ecosystem that will help create greater economic and social impact for Toronto, Ontario and Canada.”
