One of the biggest names in technology has officially set up shop in uptown Waterloo.

The IBM Innovation Incubator held its grand opening Wednesday. IBM is the latest company to open an outpost in the Communitech Data Hub on Erb Street West.

The hub, which opened in May in a former police station, aims to be a home for companies looking at harnessing the large amounts of data being collected in the modern world.

The province is putting $22.75 million toward a series of innovation-focused IBM projects across Ontario.