In a bid to diversify the mix, grow technology companies and accommodate requests, the University of Victoria's Vancouver Island Technology Park has quietly established a new home for small start-up companies.
"More small start-ups are looking for flexible, affordable space and they see the benefit of being located at the Tech Park, but they're not ready to take on 1,000 square feet of office space," said VITP manager of culture and corporate relations Nikki de Goey.
In an old building that has been a boiler room and laundry facility tucked in behind the main block of the VITP, the park has transformed about 10,000 square feet of space into a string of small offices, meetings rooms, a kitchen and a large open space that can be used by small companies and as shared space.
It's called Innov8 Hub.
De Goey said the space is a natural progression for the park, which had an incubator program that was in demand, and fits with the VITP's push for collaboration through co-location.
She also noted it brings together like-minded companies and entrepreneurs who have been there and done that. "It's also more affordable, short-term space offered on a month-to-month basis," she said. Companies pay an all-in fee with no long-term commitment, but still have use of all the VITP amenities like the cafeteria, meeting space and gym.
The space is being renovated on an as-needed basis.
"We want to start moving small companies out there and hopefully see them grow and eventually take more space at the park," De Goey said.
De Goey said the space is very different from the Accelerator Centre established at the offices of the Victoria Advanced Technology Centre at Hillside and Douglas streets.
"We don't have programming, and [VITP] does not get involved in the day-to-day operations of the business," she said.
The Accelerator, which houses 23 small companies in 16,000 square feet, helps to grow companies through a program that includes one-on-one work with technology and business mentors.
"It's great to see another option available for early stage tech companies in Victoria, after just six months we already have 23 companies moved in and we are having to rearrange our layout to make enough room," said VIATeC executive director Dan Gunn.
"For us to continue to grow the tech sector, we need a variety of locations and methods to foster the companies of tomorrow."
