OneEleven, the startup incubator located in downtown Toronto, has closed permanently due to the COVID-19 lockdown impacting its client companies and its own business model.
The national startup publication Betakit reported Wednesday that the 125,000-square-foot office space had closed for good. OneEleven received no government funding, so it suffered along with its clients when some startups had to lay employees off and face closure.
While Entrevestor generally focuses on happenings in the Atlantic Canadian startup community, we’re featuring this Betakit report as it demonstrates the brutal