The DMZ, a startup incubator based out of Ryerson University in Toronto, has decided to open a location in New York City.
The goal of the outpost, says DMZ, is not to push local talent out of Canada, however; rather, it is to give Canadian startups a foothold in the US market without losing their loyalty.
“Our new space in New York City, which complements our existing incubator in Toronto, is designed to provide a landing pad for Canada’s fast-growing tech startups looking to grow their customer base in the US,” said Abdullah Snobar, executive director of the DMZ. “Along with providing startups access to a community and a network of potential partners, customers and investors, the new office will contribute to the interest from US businesses towards Canadian tech startups.”
Expanding into the US has long been a common strategy of growth for Canadian startups, but often this has meant losing talent, jobs, and technology to America. The DMZ hopes its NYC location—available to startups anywhere in Canada—will actually help Canada retain those assets.
The new DMZ office is located at Primary in New York City’s financial district. The collaborative workspace includes private offices, coworking zones, a full service espresso bar, on-site fitness studio and a lounge area, which holds a number of monthly events.
“We’re proud to be part of the DMZ’s expansion as they make a mark in New York City,” said Lisa Skye Hain, cofounder of Primary. “Our workspace, which includes a community of peers and mentors, will provide Canadian entrepreneurs the foundation to take chances with a greater degree of certainty, setting them up for long-term success.”
Currently, the DMZ has five Canadian startups working out of the New York City office, including SlimCut Media, Reportin’, and Sampler.
The DMZ at Ryerson University is the top-ranked incubator in North America and third in the world. Since launching in 2010, it has incubated nearly 300 startups, raised more than $300 million in seed funding, and created almost 3,000 jobs.