Ryerson University and Tangerine Team Up To Launch New ‘Thinkubator’

New initiative designed to foster innovation by empowering local start-ups

TORONTO, ON – February 24, 2016

Today, Ryerson University and Tangerine are announcing the launch of their new ‘Thinkubator,’ a unique business incubation space for Canadian start-ups looking to grow. With a focus on digital workforce solutions and fin-tech companies, the ultimate goal of the Thinkubator is to foster innovative solutions to help Canadians live better lives.

Housed on the second floor of Tangerine’s Downtown Toronto Café across from the Eaton Centre, the Ryerson Tangerine Thinkubator provides valuable shared work space in addition to mentorship and support for participating companies. This support encourages the collaboration and innovation required for emerging start-ups to develop and grow to their full potential.

“We’re proud to be working with Ryerson University to build a new community of local entrepreneurs who will be behind some of Canada’s latest innovations,” says Brenda Rideout, Chief Strategy Officer at Tangerine. “At Tangerine we’re continually focused on innovation through technology to make our clients’ lives better, and the Thinkubator is an extension of this focus, as we support those who share the same passion for advancement.”

Since launching the DMZ™ in 2010, one of Canada’s largest business incubators and the top ranked university-based incubator in North America*, Ryerson University continues to earn a reputation as a world class institution in the incubation space. “The Thinkubator is clearly aligned with Ryerson University’s vision to foster entrepreneurship, serve societal needs and engage with communities,” says Dr. Mohamed Lachemi, Interim President, Ryerson University.

Thinkubator will leverage Tangerine’s business expertise in addition to Ryerson’s deep rooted partnerships in the incubation space. These partnerships include the Incubate Innovate Network of Canada (I-INC), which is made possible in part by the Government of Canada’s Canada Accelerator Incubator Program, which will support the new Ryerson Tangerine Thinkubator.

The Ryerson Tangerine Thinkubator has already signed on the following emerging companies who have set up shop in the space:

  • Digital Retail Apps® – Digital Retail Apps’ SelfPay® eliminates checkout lines by letting shoppers pay for their in-store goods from anywhere on their own mobile device. Shoppers simply scan items to add them to their in-store cart and then pay directly in-app using one of many integrated payment methods including credit card, PayPal® and Apple Pay.
  • Curexe – Curexe is a web application that provides international payment and currency exchange services to small businesses. Customers can make large payments from any mobile device at a cost of 1% for each transaction which is significantly less than the industry average.
  • WhoPlusYou® – WhoPlusYou is a community engagement platform that accelerates economic and social development by matching the right people with the right jobs and knowledge based on their needs, interests, and preferences. Labour Market Information (LMI) is generated from the system and used to better inform community decision making in real time. The WhoPlusYou team is using the Ryerson Tangerine Thinkubator to encourage growth and collaborate with other start-ups.
  • CareerJSM – The first job search management application, allowing the job seeker to manage their entire job search across any hiring platform.

As an extension of the partnership with Ryerson University, Tangerine is also supporting Magnet, a non-profit initiative co-founded by Ryerson University and the Ontario Chamber of Commerce that aims to address unemployment and under-employment specifically as it relates to youth, new immigrants, Aboriginal peoples, persons with disabilities and other individuals facing barriers to employment. The Magnet network features data-rich, job-matching technology and job search management tools developed by WhoPlusYou and CareerJSM. The network is also a unique source of real-time labour market information for decision makers and community planners.

*Source: http://www.ryerson.ca/ryersontoday/data/news/2015/11/20151106-dmz-top-university-incubator-in-north-america.html

About Tangerine
Tangerine is a direct bank that delivers simplified everyday banking to Canadians. With more than 1.9 million clients and close to $38 billion in total assets, we are Canada's leading direct bank. Tangerine offers banking that is flexible and accessible, products and services that are innovative, fair fees, and award-winning client service. From no-fee daily chequing and high-interest savings accounts, GICs, RSPs, TFSAs, mortgages and mutual funds, Tangerine has the everyday banking products Canadians need. With over 1,000 employees in Canada, our presence extends beyond our website and Mobile Banking app to our Café locations, Pop-Up locations and 24/7 Contact Centres. Tangerine was launched as ING DIRECT Canada in 1997. In 2012 it was acquired by Scotiabank, and operates independently as a wholly-owned subsidiary. For more information, visit tangerine.ca.

Follow us on Twitter @TangerineBank.

About Ryerson University
Ryerson University is Canada's leader in innovative, career-oriented education and a university clearly on the move. With a mission to serve societal need, and a long-standing commitment to engaging its community, Ryerson offers more than 100 undergraduate and graduate programs. Distinctly urban, culturally diverse and inclusive, the university is home to more than 41,500 students, including 2,400 master's and PhD students, 3,200 faculty and staff, and nearly 170,000 alumni worldwide. For more information, visit www.ryerson.ca.

Follow us on Twitter @RyersonU.