ZDG opens Ottawa high-tech incubator

A Chinese high-tech investment firm is investing an initial $10 million in an Ottawa-based incubation centre to provide funding and support for Ottawa-based tech firms seeking entry into China's rapidly growing market. Zhongguancun Development Park (ZDG) will begin operations in a 150-sq-m facility co-located with Invest Ottawa (formerly Ottawa Centre for Research and Innovation). The ZDG Ottawa International Incubation Centre is the first ZDG incubator in Canada and only the third worldwide. ZDG has a capital base of $1.9 billion, assets of $10 billion and is implementing a $1.5-billion, five-year investment plan to invest in technology firms. ZDG has 15 subsidiary firms focussed on equity investments in high-tech companies, investment in high-tech industrial park infrastructure and company financing. Through the incubation centre, ZDG will invest in companies to conduct China-based R&D, marketing and office expansion....