On November 6th, The Forge and Innovation Factory celebrated their official Grand Opening for their new co-located office space, creating Hamilton’s one stop shop for innovation. The Forge, the business incubator funded by McMaster University, and Innovation Factory, Hamilton’s regional innovation centre, work with tech start-ups in the Hamilton region to build successful businesses.
The space was made possible through the Government of Canada’s FedDev Ontario program, which provided $1.2 million to McMaster University to expand The Forge and its rapid prototyping facility. Within the newly renovated 10,000 square-foot facility at McMaster Innovation Park, The Forge has been able to double the number of innovative startups they support. Entrepreneurs access expert mentorship, skill-building workshops, dedicated office space, meeting rooms, and an advanced makerspace with hands-on training to support the creation of innovative products.
David Farrar, McMaster’s acting president, applauded the federal government for its investment in The Forge, noting that the space represents much more than just an expanded footprint. “This is an investment in talent, innovation, and Canada’s entrepreneurial capacity. This space will be used to test the ideas, develop the technologies and create the jobs that will address future local and global challenges.”
“Working within the same space as Innovation Factory comes with great benefits to both organizations,” says Gay Yuyitung, acting director of The Forge and executive director of the McMaster Industry Liaison Office. “We look forward to strengthening our partnership with Innovation Factory to support entrepreneurs in moving their ideas closer to products on the market. The ability to network our early-stage entrepreneurs with scaling companies and experienced advisors is already leading to greater interest from the investment community into Hamilton.”
Sean Van Koughnett, McMaster’s associate vice-president (students & learning) and dean of students, believes the timing of the expansion is just right for the McMaster community. “This expansion strengthens McMaster’s innovative and entrepreneurial ecosystem by providing space and resources for our students and alumni, who are increasingly interested in starting their own ventures.”
Since 2015, over 130 companies have graduated from The Forge programs, raising over $26 million dollars and selling products in over 50 countries. The Forge offers programs across sectors to entrepreneurs pursuing scalable, technology-based companies.