ICE expansion opens doors for innovation across campus

If you have a great idea for a business, a not-for-profit venture or social enterprise but you don’t know where to go or what to do next, the Innovation Centre for Entrepreneurs (ICE) can now be your first stop.

An initiative of the Peter B. Gustavson School of Business, ICE has opened its doors to the entire UVic community. ICE already has about a dozen clients with ideas at various stages in the pipeline, and has resources and support to help many more campus innovators realize their vision.

More than 100 UVic students—the centre’s initial client base—have already benefited from ICE.

Early Entrepreneurs, a social enterprise that provides elementary schools with a program to teach students about entrepreneurship and global awareness, is just one example.

“After successfully testing the model of taking a small amount of seed money into classrooms and teaching students how to grow it into enough money to build schools in developing countries, we knew we had the core of a new business,” says Early Entrepreneurs co-founder Kim Cope.  Working with business partner Rebecca Koch, Cope explains “we’re refining that with the help of ICE.”

Software developer LimeSpot is another client of ICE that recently launched a business. Their software can transform social media sites into venues for social commerce.

ICE provides tools, expertise and space on campus to help entrepreneurs take an idea to the stage where it is ready for investment. Advisers and mentors from outside the university provide innovators with input derived from experience and valuable connections.

“As a community of learners, innovators and entrepreneurs, there is no shortage of excellent ideas at the University of Victoria,” says Vice-President Academic and Provost Reeta Tremblay. “The Innovation Centre for Entrepreneurs will provide students, staff and faculty from all faculties the support to develop their ideas while also building relationships with the region’s business leaders and entrepreneurs.”

And all are welcome. 

“We encourage anyone within the UVic family to bring their ideas forward,” says ICE Director Robin Milne. “Many people are passionate about an idea but unsure how to go about moving it forward. ICE provides a framework that initially helps them to shape and present their concept. Their plan is then fully developed together with an assembled team of advisers.”

The centre takes clients through a four-phase protocol that takes entrepreneurs and their ideas from a concept through to a workable business plan. Clients are guided through how to make a clear and persuasive presentation of their idea at various stages, to where they feel confident putting their idea—and a solid business plan—in front of potential investors.

ICE will have space on campus where entrepreneurs and advisers can meet and work together, further strengthening UVic’s relationships with both the community and with business.

Business community advisers will help guide ICE clients through the process, both from a conceptual standpoint and from a functional one, providing support in myriad fields including human resources, accounting, law, and IT.

The expansion has ICE looking for potential volunteer advisers from the community and entrepreneurial-minded people on campus (including recent alumni) to get involved with the centre. More information about this important addition to the region’s entrepreneurial ecosystem is online at ICEuvic.ca.