Algoma University's School of Business and Economics in Brampton, Ont. signed a Memorandum of Understanding with Altitude Accelerator to assist area entrepreneurs and students through the Investor Readiness Program.
”Our exciting partnership with Algoma University School of Business and Economics allows Altitude Accelerator to bring students and founders together through experiential learning,” said Altitude Accelerator Chair Andrew Opala in a news release issued by Algoma University. “The fusion of innovation, ideas and talent support innovative products of the future, to build a thriving economy in Brampton and Peel.”
Full text of the release follows:
BRAMPTON - Earlier today, as part of the official launch of Brampton’s newly branded Altitude Accelerator, the Algoma University School of Business and Economics signed a Memorandum of Understanding to work alongside Altitude Accelerator. The partnership will support the incubator’s Investor Readiness Program through the establishment of new experiential learning opportunities for students to assist high potential technology startups.
For the past 13 years the regional innovation hub for Peel Region, formerly known as the RIC Centre, has helped entrepreneurs, startups and tech companies overcome challenges by providing programs and mentorship to support growth and scalability. This past September, the RIC Centre took on a new identity, rebranding to Altitude Accelerator. The new identity was revealed virtually at Canada’s Innovation Corridor Summit on Sept. 21.
Altitude Accelerator helps tech founders scale through collaborative programs and services. Today’s event commemorated the partnership with Preference Capital, who will use Altitude Accelerator as their home incubator in Brampton. Algoma University School of Business and Economics will collectively support entrepreneurs and student learning through their Investor Readiness Program aimed at helping participating tech startups scale to new heights.
”Our exciting partnership with Algoma University School of Business and Economics allows Altitude Accelerator to bring students and founders together through experiential learning,” said Andrew Opala, chair of Altitude Accelerator. “The fusion of innovation, ideas and talent support innovative products of the future, to build a thriving economy in Brampton and Peel.”
Participating students are registered in Algoma’s fourth year Developing Business Models For Organizations course specifically designed to create learning opportunities for students and start-up businesses through collaboration with the community, government and industry partners. The course enables participating businesses to gain access to talent that results in added value for business owners via innovative, feasible and creative solutions, development of relevant forecasts and the leveraging of local talent. As a part of the course, students will spend 8 weeks working with the business startups under the mentorship and guidance of a faculty advisor to help facilitate the growth and development of participating business start-ups.
“The partnership announced today builds on the strengths of both the Algoma University School of Business and Economics and the Altitude Accelerator,” says Asima Vezina, president and vice-chancellor, Algoma University. “We aim to foster and facilitate the growth and development of relationships with our partners while providing our students with real-life learning experiences that will yield innovative business solutions contributing to the region's economic development and this is another step forward in supporting these efforts in the Brampton region.”