OneEleven, the Canadian post-accelerator innovation hub for scaleups, has opened a campus in London.
The company’s first site outside Canada sits at the heart of London’s fast-growth ecosystem, close to Silicon Roundabout in Shoreditch.
The new hub will emulate the OneEleven model that has helped 70 member companies in Toronto raise more than $500m at a collective valuation of more than $2bn since 2013.
Founded in Toronto, and with a location in Ottawa, OneEleven provides a range of facilities and services designed to help scaleup founders navigate the journey from seed funding to Series A and beyond. It supports its members with services from HR to finance, from brand and marketing to technology, and sales tools.
Dean Hopkins, CEO of OneEleven, said: “London offers incredible support for early stage businesses as they start out, and once they reach Series A funding – but there simply isn’t enough of an infrastructure out there at the moment to help companies at that crucial in-between stage.
“Many companies will go through accelerator or incubator programmes that provide them a valuable kickstart, but when the fixed term is up they are too often left to fend for themselves with little support in maintaining that momentum.
Matillion raises $35m in Series C funding round
“These companies have nurtured an idea into a viable product, and are grappling with the challenge of turning that into an entire business. That’s where OneEleven steps in, offering ‘scale as a service’ and easing the transition from a highly structured environment to the ‘real world’ and making sure promising companies don’t fall through the cracks by providing the resources and community they need to push themselves towards maturity.”
OneEleven London is being led by UK managing director Rob McPherson. McPherson said: “I’m honoured to be leading the charge as OneEleven brings its unique – and emphatically proven – proposition to London.
“What the team has achieved in Toronto – becoming a key player in the growth of one of the world’s most exciting new scaleup ecosystems – is inspiring. We want to create a truly bespoke version of the OneEleven experience that is best suited to the London ecosystem and the businesses driving it forward.”