Big Changes Coming for New Businesses in Brampton
If you’re a local entrepreneur, you might be excited to learn that Brampton’s startups could soon get a boost.
Brampton is full of independent businesses and local creators looking to create new businesses. And as one of Canada’s fastest growing cities with 14,000 new residents every year, there’s definitely some room for them.
Now, a new angel investor group is looking to establish a Brampton chapter.
According to the City of Brampton, Cross Border Angels & Experts (CBA) hosted an information session for interested investors, mentors and entrepreneurs recently.
“CBA is building a startup ecosystem for entrepreneurs to meet with investors, business leaders and other startup stakeholders through its global network, online portal and events,” reads a recent statement from the City.
“In partnership with the City's Economic Development and Culture office, the organization hopes to launch CBA Catalysts of Brampton as Brampton's contribution to this ecosystem.”
Brampton is something of a startup incubator, so it’s no surprise that we could soon have a new angel investor group.
In fact, in 2017, the Brampton Entrepreneur Centre supported 150 startups, delivered seminars and events to more than 4,500 entrepreneurs, and channeled more than $155,000 in funding to launch or grow Brampton businesses.
According to the City, it’s Ashwin Sanzgiri, Vice-President, Scaale Group and Cross Border Angels, and Brampton resident, who is the inspiration behind the Catalysts.
"The key ingredients of creating an organic entrepreneurial and innovation ecosystem is availability of smart capital, a captive market, inherent talent pool and ease of doing business,” said Sanzgiri in the statement.
“On introspection, we realize that all the above are available in abundance in Brampton."
It’s true that Brampton is an economic hotspot. According to the City, Brampton is home to new ideas and energy as one of Canada's youngest cities, with an average age of 36.5 compared to 39.7 for the GTA, 41.0 for Ontario, and a nationwide average age of 41.0.
And, a vacant downtown space is being transformed to launch a new incubator and co-working area in early 2019 with Ryerson University, “sharing best practices and lessons learned from the University's extensive experience with innovation and incubation,” reads the statement.
"Brampton has a thriving entrepreneurial community, and there are more exciting projects coming up that will only add to the ecosystem, like a pilot incubator and the new Ryerson campus downtown,” said Mayor Linda Jeffrey in the statement.
“The timing is perfect and the opportunities immense for a new Brampton-focused angel investors group."
How will the angel investor group work for local startups?
Well, a screening process will channel the most promising and high potential projects to the Catalysts for deliberation.
Then, eligible projects might score investment, mentorship and guidance with the group.
Of course, the group has an expansive network, so CBA also aims to invite Brampton-based business leaders to actively engage with the Catalysts to support relevant projects.
"The City's Economic Development Master Plan emphasized the need for collaboration and partnership with the private and public sector,” said Councillor Jeff Bowman, Economic Development Chair.
“The new angel network system for Brampton is yet another step in the right direction in bringing together startup stakeholders to work together for Brampton's continued economic success."
If you’re interested in joining the Catalyst group, you can actually apply to be an investor or a mentor.
You can learn more about CBA here.
What do you think of a possible angel investor setting up shop in Brampton?