The Ryerson University
DMZ—short for Digital Media Zone—launched in the spring of 2010 to incubate new, innovative businesses from Ryerson students and alumni. Less than two years and 39 startups later, the incubator is growing.
This spring, it will open a new 5,400 square-foot space in the basement of the building it occupies at 10 Dundas Street East, bringing its total space to about 15,800 square feet.
"With the addition of the new space, the Zone will be able to accommodate about 50 new innovators," says DMZ media representative Lauren Schneider.
Schneider says that the Zone's successes so far—including noteworthy startups
500px,
Shape Collage and
Teamsave—have seen seven companies "graduate" to their own office spaces and have created 357 new jobs, plus 48 direct jobs supporting the Zone at Ryerson.
The growth, Schneider says, builds on the DMZ's mandate. "The Digital Media Zone will continue to play a key role in Toronto’s new digital economy by fostering young innovators... to help keep the world’s best talent here and contributing to our economy."
Writer: Edward Keenan
Source: Lauren Schneider, Media Relations, Ryerson DMZ