# Ontario Centre of Innovation

Ontario Centre of Innovation is a Private Equity based in Toronto, Canada.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Toronto, Canada
- **Region:** North America
- **Address:** 325 Front Street West, Suite 300, Toronto, Ontario M5V 2Y1, Canada
- **Founded:** 1987
- **Assets under management:** Undisclosed
- **Website:** www.oc-innovation.ca
- **LinkedIn:** https://www.linkedin.com/company/ontario-centre-of-innovation

## Regulatory record

- **Reports private funds:** No

## About

OCI brings industry, academic, and government partners together to invest in collaborative R&D, technology development, and commercialization opportunities that generate the highest return on innovation for Ontarians. As an ecosystem connector, OCI initiates partnership opportunities, develops and manages industry-academic collaborations, supports high-potential SMEs in commercializing research, and provides training for highly skilled talent. It drives economic growth and job creation through investments in the development, commercialization, and adoption of advanced technologies.

## Sectors

- Life Sciences
- Digital Health
- Automotive
- Enterprise Software

## People

- Vic Fedeli — Minister of Economic Development, Job Creation and Trade (government sponsor)
- Alicia Pereira — Vice President Marketing & Communications

## Questions

### How is the Ontario Centre of Innovation funded?

OCI operates primarily through provincial government appropriations, supplemented by mandated industry co-investment on individual projects. In the 2020-2021 period, partner co-investment reached $165 million. It does not raise traditional closed-end funds.

### What role does OCI play in the Ontario venture ecosystem?

OCI functions as a de-risking layer for private investors. It validates early-stage companies and academic research through structured grants and collaborative R&D programs. Angel investors and venture capitalists routinely invest after OCI's initial support, generating $503 million in follow-on capital during the 2020-2021 cycle.

### Does OCI invest directly in companies or only fund academic partnerships?

OCI does both. It supports the commercialization of academic intellectual property and invests in early-stage ventures with high commercial potential. The organization also helps small and medium enterprises access emerging technologies like 5G testbeds and next-generation network infrastructure.

### Who runs investment decisions at OCI?

OCI has not publicly identified a single investment committee or lead investor. The organization deploys Business Development Managers across the province who identify industry needs and academic breakthroughs. Government directives, particularly from the Ministry of Economic Development, Job Creation and Trade, shape program priorities.

### How does OCI relate to other Canadian innovation agencies?

OCI delivers programs through a whole-of-government approach alongside NSERC, NRC-IRAP, Connect Canada, and the Business Development Bank of Canada. This coordination is designed to streamline application processes for companies, with OCI managing the Ontario-specific mandate.

### Which sectors does OCI explicitly focus on?

OCI concentrates on sectors identified by Ontario's government as high-priority for future prosperity, including life sciences, digital health, automotive technologies, and enterprise software. Its Ontario Vehicle Innovation Network specifically targets transformative automotive R&D.

### Does OCI report results as a fund would?

No. OCI reports economic outcomes — jobs created or retained, private follow-on investment, and taxes generated — rather than traditional fund-level returns. In 2020-2021, it reported generating more than double its original investment in partner co-investments and $503 million in follow-on funding into client companies.

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Last updated: 2026-08-11T15:07:41.444Z

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