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NewMIC incubator expands beyond first-year expectations, launches new fund

News | 11/29/2001 5:00 am EST

The Vancouver-based New Media Innovation Centre (NewMIC) has launched its second phase of initiatives to accelerate the development of research projects with commercial potential by funding a company under its new product development fund. The $400,000 kitty for startups in ventures related to the centre’s seven research clusters is the latest initiative by NewMIC to supplement a greatly expanded role in new media research and development. President and CEO Alan Winter tells Canadian NEW MEDIA that the timing for a first investment is right now that the centre’s research clusters and first lab are operating at full speed.

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