The Royal Bank of Canada is tying up with the University of Toronto for OnRamp project, an accelerator for students, entrepreneurs and startups. RBC will dedicate C$ 3 million for the project in downtown Toronto, which will support players developing commercial ideas. The accelerator will include an RBC innovation hub for incubating start-ups, enabling new companies to network with each other, showcase to potential investors and grow their businesses. The fund will also be used to create fellowships, prizes and a speaker series intended to enhance the university’s entrepreneurship ecosystem. RBC technology and operations group head Bruce Ross said some of the brightest and best ideas are emerging from universities, but too frequently the young entrepreneurs have to look abroad to get their businesses off the ground. ONRamp should help change that, he said.
