Start-ups and entrepreneurs in Niagara specializing in the biomanufacturing and digital media sectors are now able to access enhanced commercialization services thanks to an innovative new partnership between the Waterloo Accelerator Program Inc. (AP) and Innovate Niagara.
Innovate Niagara plans to implement the AP’s proven framework for start-up success in Niagara. The program will be delivered at the Generator at one Digital Media Facility and at the Brock BioLinc business incubator, a facility focused in biomanufacturing.
The Accelerator Program, originally launched at the Waterloo Accelerator Centre, has been developed and proven out over the last seven years, helping to nurture and grow more than 100 start-ups. The Waterloo Accelerator Centre has become a world-renowned centre for the cultivation of technology entrepreneurship, dedicated to accelerating the creation, growth, and maturation of sustainable new technology companies. In addition to the Waterloo location, the Accelerator Program is delivered out of Kitchener’s Communitech Hub, the Barrie Accelerator Centre and the Stratford Accelerator Centre.
Innovate Niagara is a one-stop shop for leaders of developing businesses in innovative clusters, providing critical services to entrepreneurs within the Niagara Region. Formerly, a business leader might have to consult several different organizations before receiving the assistance required to ensure their business would thrive in the critical start-up or development phases of its growth. With the establishment of Innovate Niagara, a single organization is now responsible for the coordination of services, ensuring a streamlined and efficient approach.
Innovate Niagara will leverage the Accelerator Program to help start-ups in Niagara Region move to market faster, create jobs and stimulate economic activity. Incubation Centres and start-ups leveraging the Accelerator Program benefit from coaching and mentoring, experienced staff, proven methodologies, education and training programs, connections to capital, established partnerships, R&D support and outreach, talent recruitment, technology transfer assistance, support services and commercialization expertise.
“The Accelerator Program has successfully changed the landscape for early stage technology companies, we are pleased to partner with Innovate Niagara to assist with the growth and development of start-up companies in their region.” says Tim Ellis, CEO, Accelerator Centre and Accelerator Program.
“We are very excited at the opportunity to adopt the Accelerator Program’s framework. It’s a proven process that enables start-ups to succeed,” says Jeff Chesebrough, CEO of Innovate Niagara, “The models and processes they use results in measurable success.”
The Accelerator Program has achieved outstanding success since 2005 with 89 clients companies generating over $50 million in revenue, receiving over $78 million in external funding, and creating more than 680 jobs with all graduate companies remaining in Ontario and 84 percent remaining in the local community.
Generator at one Manager, Steve Boese is looking forward to working with and strengthening the relationship with the AP. “By implementing the Accelerator Program at the Generator at one, we are adding proven services that actively help our portfolio companies achieve higher levels of success in a shorter period of time,” says Boese. “This relationship shows the strides that the Generator at one and the AP are taking to ensure a more robust and prosperous entrepreneurial ecosystem in Niagara, Waterloo and across Ontario.”
BioLinc, Brock’s Biomanufacturing incubator, located at the new Cairns Complex and part of Innovate Niagara, will also benefit from the Accelerator Program.
“The Accelerator Program will be a great benefit to BioLinc and its clients, from both Brock University and from Niagara Region,” says Manager, Dan Lynch. “The provision of the proven Accelerator Program to BioLinc will help with client intake and analytics, provide us with experienced management guidance, help us better access existing networks across Ontario, and is viewed as a very attractive option to many of our mutual stakeholders. Our clients, both in residence and virtual, will have access to key value-added services that will increase successful innovation and commercialization rates.”
Waterloo & Niagara, ON (February 21, 2013)
For all inquiries please contact:
Jeff Chesebrough
Innovate Niagara
Chief Executive Officer
905-685-3460 ext. 201
Dave Domjan
Accelerator Program
Chief Operating Officer
519-342-2400 ext. 2001