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Communitech opens new Waterloo Data Hub

The CIBC Data Studio taps into a thriving startup environment to explore new capabilities that will deliver innovative solutions for clients. (CNW Group/CIBC)

Communitech’s Waterloo Data Hub has officially opened its doors.

It is located at 14 Erb Street West (the former North Division detachment for Waterloo Regional Police) and is a partnership that involves CIBC, the City of Waterloo and Quantum Valley Investments.

Communitech says the 19,000 plus square foot facility offers a collaborative space for a mix of tech and data-driven clients and enterprise partners.

It will be used by startups and scale-ups and is home to Canada’s Open Data Exchange (ODX), a federal government initiative that helps enterprises and startups generate new commercial applications using open data sets.

“There’s this notion data is the new gold, and more and more we’ve seen a rise in local tech companies specializing in open data, artificial intelligence, connected vehicles, cyber security and smart cities,” said Iain Klugman, CEO, Communitech. “In true Communitech style, the new data hub supports and connects these companies in the region while also welcoming new partners in the space.”

“Being part of a collaborative ecosystem at Communitech means we can identify new ways to harness the power of data to deliver leading insight, advice and solutions for our clients,” says Jose Ribau, Chief Data Officer, CIBC. “It’s exciting to be part of this innovative partnership that will enable established companies and start-ups to grow and use data to its full potential.”