The City of Brampton has reaffirmed its commitment to fostering entrepreneurship and innovation, approving $5 million in funding over the next five years for the Brampton Venture Zone (BVZ). This investment, which continues the city’s annual $1 million contribution since 2020, aims to support business technology startups and strengthen Brampton’s economic landscape.
The Brampton Venture Zone, a partnership between the City of Brampton and Toronto Metropolitan University, serves as an incubator for emerging businesses, connecting entrepreneurs with industry experts, investors, and potential customers. By providing mentorship, funding opportunities, and marketing expertise, BVZ helps transform promising ideas into successful businesses, contributing to job creation and economic growth in the region.
According to a report presented to city councillors, BVZ has already made a significant impact on Brampton’s entrepreneurial ecosystem. Since its launch, the program has:
- Mentored, incubated, or accelerated 69 companies
- Engaged 206 new industry partners
- Delivered 1,731 training and information sessions to local businesses
- Supported 245 high-potential startups and subject matter experts
- Attracted 5,633 individual participants to its programming
Brampton Regional Councillor Paul Vicente praised the investment, highlighting the importance of BVZ’s role in driving local economic growth.
“The Brampton Venture Zone has been a game-changer for our city’s startup ecosystem, helping to create new opportunities for entrepreneurs and job seekers alike,” Vicente said. “By continuing to support BVZ, we are investing in Brampton’s future as a hub for business innovation and technology.”
Mayor Patrick Brown echoed these sentiments, emphasizing Brampton’s growing reputation as a destination for business and entrepreneurship.
“Brampton is home to incredible talent and ambition. This funding ensures that aspiring entrepreneurs have the resources they need to bring their ideas to life and contribute to our city’s economic success,” said Brown. “We are committed to building a thriving innovation sector right here in Brampton.”
With this renewed investment, Brampton continues to position itself as a hub for entrepreneurship, technology, and business innovation, ensuring that local startups and emerging businesses have the resources needed to thrive.