New business incubator ready to spur growth in Windsor-Essex

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Posted March 25th, 2011 at 11:10 am

Building a business involves more than an idea and passion.

Many people, young entrepreneurs especially, struggle to bring their products to market because they lack the necessary start-up funds. Business incubators can help start-ups by providing access to funding, community support and expert advice.

Several business incubators are in the works for this region and one, Odette Project for Technology, Innovation and Commercialization, Virtual Incubator (OPTIC VI) at the University of Windsor, has launched and is now accepting applications from start-ups and entrepreneurs.

The project’s mission is to help promote local business growth by awarding up to $5,000 to high potential start-ups or individuals with great business ideas. OPTIC plans to assist 50 to 60 enterprises with funds provided by Ontario’s Ministry of Economic Development and Trade.

A start-up is an individual or company who has been in business for less than three years and who has an idea for a product or service that is still seeking a business model for commercialization. The start-up must have less than $25,000 in total revenues, and the company must be located in Windsor-Essex.

OPTIC is accepting applications to cover start-up expenses including legal, research and development, financial consulting and marketing.

Visit opticvi.com for more information and an application form or call 519-253-3000, ext. 3142.

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