Waterloo (Ontario), CANADA, March 6, 2014 – Waterloo Accelerator Centre is celebrating the launch of 30 technology start-ups from its JumpStart program, a unique six-month mentorship and business acceleration program aimed at assisting engineers and scientists commercialize new products and develop new businesses.
Attendees at the launch ceremony heard the pitches from seven of the JumpStart companies, including Milao Language, an educational technology start-up radically changing the way people learn a new language; Kite, a productivity tool that accelerates building web applications; Deep Trekker, a creator of fully portable, highly manoeuvrable, affordable video submarines; iNotForProfit, a provider of mobile application solutions for the non-profit sector; Wriber, a blogger’s best friend; TrendyMED, a medical device company developing a groundbreaking line of intravenous (IV) infusion products, and Plasticity, a start-up combining neuroscience and technology to make people happier at work.
Since the JumpStart program kicked off in January 2013, 30 technology start-ups each received $5K in mentorship from the Accelerator Centre’s team of in-house advisors along with $25K in matching seed financing. As a direct result of the JumpStart program, participating start-ups have created 180+ new jobs in the Waterloo Region, generated $3.2 million in combined revenue, and are expected to raise approximately $5 million in private investment.
The Accelerator Centre JumpStart program was made possible through a $945K investment from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario).
“FedDev Ontario’s investment in the Jumpstart program is helping science and technology entrepreneurs bring their innovative ideas to market,” said the Honourable Gary Goodyear, Minister of State for FedDev Ontario. “I would like to congratulate all of the finalists and winners and wish them luck with their start-up companies. These new creative ideas will help benefit the Waterloo Region and all of southern Ontario.”
“For early-stage companies seeking to bring their technologies to market, access to funding and mentorship at this formative stage is often a significant hurdle,” says Tim Ellis, CEO of the Waterloo Accelerator Centre. “Our JumpStart program solves both of these challenges, providing essential seed funding and access to experts who can provide the critical guidance and mentorship geared to helping these young companies realize their business goals.”
“JumpStart has been instrumental in our company’s growth in the last four months,” says Jim Moss, CEO of Plasticity. “It has not only given us the critical early-stage funding that is so hard to come by, but allowed us to tap into incredibly valuable advice and mentorship from seasoned experts who have been at our shoulder to guide us. We have now successfully raised $500K from angel and private investors and our sales are ramping up. We would never have been able to get this far so quickly without JumpStart.”
The Accelerator Centre’s JumpStart program was recently honoured with a 2014 Business Excellence Award for Innovation by the Greater Kitchener Waterloo Chamber of Commerce. For a full list of companies that participated in JumpStart, click here.
About the Accelerator Centre
The Accelerator Centre is the gold standard for accelerating the growth and commercial success of early-stage technology companies. Our proven formula, The Accelerator Program®, delivers an essential combination of mentorship, education, facilities, funding and networking to the highest potential firms. Our in-house programming provides expertise, resources and support when needed to accelerate time to market, customers, and investment.
Since 2006, The Accelerator Program has developed and nurtured over 120 early-stage technology start-ups, creating 1000+ new jobs, generating over $100 million in revenue, and attracting over $160 million in investment. Thirty-four companies have graduated from The Accelerator Program, and more than 90 percent of these companies have remained in Waterloo Region. For more information visit our website at www.acceleratorcentre.com
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