Waterloo (Ontario), CANADA, February 21, 2014 – Waterloo’s Accelerator Centre has taken home a 2013 Business Excellence Award for Innovation. The award, presented by the Greater Kitchener Waterloo Chamber of Commerce at its annual Business Excellence Gala evening, recognizes Chamber members who have made exceptional contributions through their involvement and leadership, making a clear difference and who act as role models in the community.
The Accelerator Centre was recognized by the Chamber for 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. Since it’s kick 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 100+ full time jobs in Waterloo Region and are expected to raise more than $5 million in private investment.
The Accelerator Centre JumpStart program was made possible through a $945K investment from the Federal Economic Development Agency.
“We are honoured to have JumpStart recognized by the Chamber, and we’re thrilled to celebrate this Business Excellence award with the start-ups who have directly benefited from the program,” says Tim Ellis, CEO of the Accelerator Centre. “With its flexible combination of non-residency support and focused mentoring over a six month timeframe, the JumpStart program has allowed us to support many more start-ups, nearly doubling the reach of The Accelerator Program®, our in-house program. As a result we have been able to equip 30 additional companies with the knowledge, network and tools to take a step closer to realize their business goals.”
One of the initial companies funded by the JumpStart program is ESL Explorer, a trusted online marketplace for students to research and buy promotions on English language courses around the world. In less than one year, the company has grown from 2 to 10 full time employees, is already cash flow positive, and now attracts clients from all over the world.
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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For further information, please contact:
Ellyn Winters-Robinson
Communications Advisor
Accelerator Centre
Phone: 519-624-2402
Email: ewinters-robinson@acceleratorcentre.com
@ellynjane