Toronto - There is a positive link between social networking outside of Canada and innovation reveals the initial results of OCTIE, a first-of-its-kind research study conducted by Ryerson University. The preliminary report, which is part of a larger innovation research project, finds Ontario technology start-up organizations with larger social networks are associated with more start-up funding, at an average rate of $1.7 million more per relationship. Findings of the report also revealed that nearly half of network connections in the best funded companies come from San Francisco, Boston or New York.
Initiated by Cdling Capital Services Inc. and co-funded by MITACS, the first-ever analysis of social networks of Ontario venture capital funded technology start-up companies was led by Wendy Cukier, Vice President of Research and Innovation, Ryerson University and coauthor of the best selling book, Innovation Nation: From Java to Jurassic Park, with Professor Charles Davis, Associate Dean of the Faculty of Communications and Design. More than 400 individuals involved in the building of 50 Ontario technology start-up companies since 2006 with total funding of $1 billion were identified in the study.
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