Minister Chagger Announces Latest AC JumpStart Program Cohorts
On July 20, 2016 the AC welcomed the Honourable Bardish Chagger, Minister of Small Business and Tourism and Member of Parliament for Waterloo, to give a keynote address to the newest cohort of JumpStart recipients at the AC Spark event. The event highlighted some of the brightest entrepreneurial prospects in the Waterloo Region, and provided the Minister with an opportunity to announce the third and fourth cohorts of the AC JumpStart program.
Companies like Find Bob, Thalo, InkSmith, Emmetros, Lani and others gathered in the networking area of the AC to showcase their technologies and compete for “investment dollars” from the crowd to win cash prizes sponsored by Cushman & Wakefield. Horizon Solutions won first prize, followed by NFC Authority and What’s Life. More information can be found from the press release from the Federal Economic Development Agency for Southern Ontario here.
Quick Facts About AC JumpStart
- The Accelerator Centre in Waterloo, established in 2006 as a not-for-profit corporation dedicated to building and commercializing technology start-ups, has assisted more than 300 early-stage companies in the Waterloo region.
- In January 2015, FedDev Ontario provided a non-repayable contribution of $8 million, through the Investing in Business Innovation initiative, to expand the AC JumpStart program. FedDev Ontario’s funding will leverage $5.4 million from not-for-profit and private sector partners.
- Through this project, the Accelerator Centre in Waterloo is expecting to help 180 high-potential businesses grow, which will result in the creation of an estimated 700 jobs. This will help diversify businesses in the region by boosting technology companies in fields like cloud computing, clean technology and financial technology.
- In 2013, FedDev Ontario also provided the Accelerator Centre in Waterloo with $945,000 to pilot the AC JumpStart program, which assisted 30 start-up companies. These companies have created 212 new jobs in the Waterloo region, generated $3.9 million in combined revenue, and are expected to raise $5 million in private investment.