March 10, 2010

The Okanagan Research and Innovation Centre are expanding thanks to a $150,000 grant for the Southern Interior Development Initiative Trust.      

On February 25, 2010 Mayor Sharon Shepherd handed a cheque worth $150,000 to Peter Haubrich, president of ORIC Kelowna Innovation Centre. These funds will be used for a 5,600 square foot expansion of the facilities and expand its current incubation programs.

ORIC currently operates two highly successful business incubator facilities in the Okanagan Valley: the first at the National Research Council–Dominion Radio Astrophysical Observatory south of Penticton; and the second, a larger facility in Kelowna.

With the specific goal of seeding and accelerating the growth of start-up technology companies and then driving high-tech job creation, the ORIC Kelowna Innovation Centre is Kelowna’s only best-practice aligned technology business incubator offering full residential services to early stage tenant companies in a prime downtown location, as well as virtual support to affiliated start-up and fledgling technology businesses across the Okanagan.

ORIC Kelowna Innovation Centre opened in November 2008 with 6,600 square feet available for high-tech start-up companies. As a result of great success and high job creation the facility was expanded with the addition of approximately 5,600 square feet. 
 
SIDIT is once again pleased to have partnered with ORIC on its demonstrated ability to diversify and expand the regional economy and being a key component in making the Okanagan a centre for high-tech development.

To read more on the ORIC news release check out these links:

Castanet
Kelowna.com - More Opportunities for Innovation in the Vallery
Kelowna.com - High Tech Incubator to Get Funds
Kelowna Capital News