Toronto, April 17– Today, at the DiscoveryX Conference, the Ontario Centre of Innovation (OCI) and RHA Ventures Inc. (RHA) announced the signing of a Memorandum of Understanding (MOU) aimed at enhancing support for start-ups and entrepreneurs across Ontario. This collaboration seeks to leverage the strengths of both organizations to foster innovation, economic development, and job creation in the region.
"We are delighted to embark on this strategic collaboration with RHA Ventures. By joining forces, we can better support Ontario's vibrant start-up ecosystem, providing crucial resources and guidance to help innovative entrepreneurs thrive. This partnership exemplifies our commitment to driving economic growth and fostering innovation in the province," said Claudia Krywiak, President and CEO, Ontario Centre of Innovation (OCI).
The MOU outlines several key points of collaboration, including identifying co-investment opportunities in qualified companies through OCI-managed commercialization programs. These companies must meet the stringent guidelines, eligibility, and selection criteria set forth by both OCI and RHA. Additionally, both organizations will work together to enhance visibility for companies aligning with their respective mandates and may collaborate on developing custom pilot initiatives to address shared interests.
"We are excited to launch this collaboration due to the market gap in both capital and business support for early-stage companies. Supporting the commercialization of innovative technologies is crucial for addressing economic development, job creation, and sustainability, particularly within our target sectors," said Nevin McDougall, Managing Partner for RHA
This collaboration between OCI and RHA complements the recent launch of RHA's new $30M Venture Capital Fund, 519 Growth Fund II (519 GFII). The fund aims to invest in early-stage companies in the Agriculture, Agri-Food, and Technology Enabled sectors, supporting founders in the commercialization of innovative, sustainable technologies while providing competitive returns for investors. For more details, please refer to the announcement of this new fund: https://rha.ventures/pressroom/519-growth-fund-2-launch
About the Ontario Centre of Innovation
The Ontario Centre of Innovation (OCI) brings industry, academic, and government partners together to invest in collaborative R&D, technology development, and commercialization opportunities that generate the highest return on innovation for Ontarians.
As an ecosystem connector, OCI initiates unparalleled partnership opportunities, develops and manages successful industry-academic collaborations, supports high-potential SMEs in commercializing ground-breaking research, and provides hands-on training and skills development opportunities for the next generation of highly-skilled talent.
OCI drives economic growth and job creation through investments in the development, commercialization, and adoption of advanced technologies.
For more information: https://www.oc-innovation.ca
About RHA Ventures Inc. - Founders For Founders.
RHA Ventures (“RHA”) is a boutique investment company with a “Founders for Founders” approach to business. With decades of collective operational experience, our firm’s partners bring seasoned, hands-on support with go-to market approaches, commercial development, growth and exit strategies. RHA helps founders and entrepreneurs identify the most valuable market opportunities and scale their companies for sustainable growth. RHA leverages our core group of founders (business owners / entrepreneurs), our extensive network of mentors, industry connections, and investors to help entrepreneurs gain visibility, establish strategic relationships, and build successful companies.
RHA Ventures is a key investor and a General Partner of the 519 Growth Funds
The 519 Growth Fund was launched in 2022 to support innovations in early stage, growth-focused companies that are technology-enabled with demonstrated recurring revenue, market acceptance and a defensible market position.
For more information, visit www.RHA.Ventures or contact:
Nevin McDougall, RHA Ventures – nevin.mcdougall@rha.ventures
Michael Dales, RHA Ventures – michael.dales@rha.ventures
Alicia Pereira, Ontario Centre of Innovation (OCI) – apereira@oc-inovation.ca