Category: AC News

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What's Your Problem?

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Collaborating to solve killer workplace problems

The Stratford Accelerator Centre, partnering with the University of Waterloo and Velocity, is excited to welcome Professor Larry Smith from UW Economics, to the Stratford campus on Wednesday, October 21 2015.

This must-see Velocity Alpha event: What’s Your Problem? is aimed at helping students and employees find and solve ‘killer’ problems in their workplaces. A UW pioneer in entrepreneurship and innovation, Smith has a keen interest in helping foster and build not only entrepreneurs but also entrepreneurial employees.  “Nobody is dealing with the issue of entrepreneurial employees,” says Smith.  “There’s a lot of activity on helping people start companies, justifiably, of course, and very little on helping people become entrepreneurial employees.”

The event, starting at 7pm, is happening on the University of Waterloo Stratford campus which houses the school’s digital media programs (Global Business and Digital Arts and the Masters of Digital Experience Innovation). Pizza and beverages will be provided!

Register here.

For more information contact Becka Borody (Manager, Operations at Stratford Accelerator Centre) at bborody@acceleratorcentre.com or (519) 275-3694

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Innovation through collaboration: Miovision Partners with Ecopia Technology and Brisk Synergies

Accelerator Centre companies join forces

McBrideAC Graduate Miovision, a global leader in traffic systems technology, announced a new partnership with Ecopia Technologies and Brisk Synergies that will pioneer real-time visualizations of cities and transportation networks.

Today, cities have very little data on the performance of their transportation infrastructure, which makes it difficult to base sound investment decisions on it. When cities start new projects, they often map and model the traffic for that particular area, but after the project is completed, the data model is thrown out or becomes obsolete. Even if the city keeps the map and model, the data on which they were based quickly becomes outdated.

“Urban planners and transportation leaders need living, breathing visualizations of their cities to be able to plan for the future and adjust for short-term problems,” said Kurtis McBride, CEO and co-founder of Miovision. “This new partnership combines Miovision’s devices, Ecopia’s urban visualization technology and Brisk’s data analytics into a solution for any city that wants to have a real-time image of itself.”

Transportation Infrastructure Becoming the Backbone for Smart Cities

Gartner predicts the global transportation IT market will reach $151 billion by 2018[1], in part because of projects like this one, which will empower transportation professionals to improve the driving experience for everyone, through data and infrastructure. Instead of continuing to tear up roads and build big capital projects, transportation officials are increasingly looking for better data, monitoring and management of the infrastructure they already have. They are turning to modern, peripheral sensors and cameras and satellites to collect that data. That’s where companies like Miovision, Brisk and Ecopia come in.

Here’s how the solution will work:

Miovision’s Spectrum devices plug into traffic cabinets at intersections to connect intersections to the cloud. The Spectrum devices use wifi pinging between different locations to create unique anonymous identifiers for different vehicles, which Miovision feeds into Brisk’s analytics engine to determine the real-time flow of traffic. Then Ecopia generates highly detailed maps from satellite imagery to aid in the simulation of those traffic flow visualizations.

“This is truly a case where the sum is greater than the individual parts,” said Charles Chung, CEO of Brisk Synergies. “When we started to see the big picture of what we could accomplish together, it made sense to jump in and make it reality. The fact that all three of us are based in the same area and went through the Accelerator Centre makes it that much sweeter.”

The three companies are actively working on multiple pilot projects in North American cities, where leaders are embracing technology to improve transportation for residents and modernize the entire city.

“It’s one thing to talk about how our different technologies could work together in theory,” said Yuanming Shu, CEO and co-founder of Ecopia. “It’s quite another to create it for a real city, knowing that what we build will provide a useful tool for transportation planners and ultimately improve the lives of residents.”

All three companies are based in the Waterloo Region of Ontario, Canada, and each has been a member of the prestigious Accelerator Centre, located in the University of Waterloo Research & Technology Park. Miovision was one of the first graduates of the program and is excited to team up with more recent participants Brisk and Ecopia.

“Miovision always looks for innovative partners to complement our technology, and we’re especially proud to collaborate with other UW alums and teams who have gone through the Accelerator Centre,” McBride said. “This partnership helps us promote our vision to use intelligent transportation systems as a platform for new services that make life better.”

The partnership speaks to the strength of the ecosystem in the Waterloo Region.

“The best talent in the world is here taking on some of the most complex challenges and developing unique, creative solutions,” said Paul Salvini, CEO of the Accelerator Centre. “It’s a tremendous testament to what the Accelerator Centre seeks to do: develop strong companies that are committed to solving the toughest problems. I’m very proud of what these three companies have achieved so far, and I look forward seeing them flourish here in Waterloo.”

About Miovision Technologies

Miovision is a technology company that empowers transportation professionals, through data and infrastructure, to improve the transportation experience. With over 500 customers in 50 countries across the world, Miovision provides meaningful solutions to real challenges facing today’s traffic systems. For additional information about Miovision, visit www.miovision.com.

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[1] “Forecast: Enterprise IT Spending for the Transportation Market, Worldwide, 2012-2018, 1Q14 Update,” Gartner, Venecia K. Liu & Rika Narisawa, 10 April 2014

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Kik valued at $1-billion

KIKMessaging app gets $50M investment from China’s Tencent

Canada has another unicorn – a startup valued by private investors at $1-billion. Waterloo, Ont.-based chat app Kik joins the rarefied ranks of Shopify and others to become one of the few Canadian companies to garner the label following a $50-million (U.S.) investment from Chinese Internet giantTencent. The company said the investment brings its total valuation to $1-billion (Canadian).

Kik’s messaging app is immensely popular with 13- to 24-year-olds in North America and has 240 million registered users. Tencent is the $200-billion Alibaba Group Holding Ltd. arch-rival and owner of WeChat, a Chinese social messaging platform that Kik has aspirations to become. It’s a strategic partnership to help the startup win mobile messenger supremacy, and perhaps put Waterloo, home of BlackBerry Ltd., back on the map.

Mobile chat apps are central to today’s smartphone-governed lives and increasingly offer more than just chat functionality. Many Asian messenger apps have already evolved, such as Kakao (South Korea), Line (Japan) and WeChat (China). Recognized as the most sophisticated in this space, WeChat allows users to do things such as browse e-commerce stores, read the news, pay bills and order taxis or takeout, all alongside the app’s core messenger and social-media functionalities. In a nutshell, it’s the all-encompassing app, the platform within a smartphone.

And Kik is set on becoming something just like it for North American users. Last November, Kik founder Ted Livingston published a piece on the Medium website titled The Race to Become the WeChat of the West. It’s a race the company is intent on winning, which is why in April the company hired well-known Silicon Valley investment bank Qatalyst Partners to help it find the right partner – Tencent was a natural choice.

“What they are doing in China is what we want to do in the West, and they said they could help us do that,” Mr. Livingston said. “It was really a mutual coming together.”

Although the company is not yet profitable, its collects revenue from brands that sign up for accounts on the app, Mr. Livingston said. The high valuation is not rare for companies in the mobile space, where much of the value is tied up in the so-called network effect – the idea that by building a massive number of users first, revenue will follow.

The funding will be used primarily to grow the Kik team and to expand offerings on the app, and is not a precursor to a sale. “This is just a straight financial investment,” Mr. Livingston insisted. “There’s no strings attached; it’s an investment as a venture capitalist would make, but we will benefit from the informal advisory and sounding board Tencent will be for us.”

The money and advice will certainly be much needed in this so-called race, which, while still early, has already whittled out other contenders.

“It’s about building a chat ecosystem, with all these services from food to shopping to games … that live and exist and grow on top of the core chat,” Mr. Livingston said. “And I would say the only two companies that get this in the West are us and Facebook.”

Boris Wertz, founder of Version One Ventures and a long-time watcher of the chat-app space, believes Kik did well by knowing early on that it would be a platform, although even with the lead “it’s difficult to out-Facebook Facebook,” he added. “[Facebook has] so much scale and funding and on top of that is running a very aggressive product with Messenger. Kik needs to find a large enough niche to build its platform around.”

So far, Kik’s niche has skewed young (the company claims about 40 per cent of U.S. teens use the app), which is a benefit in terms of capturing the future market, as well as helping shape user preferences and habits early on. “It’s with youth that we see the opportunity to build an ecosystem; we are not trying to get them to switch services, but to adopt services.”

Nevertheless, whether North American users will embrace this next-generation chat app still remains to be seen. “Sure, people look at WeChat and think, ‘How cool that you can get all these products and services,’ but it might well be because there was no bigger social network that took off in China,” Mr. Wertz noted. “Can it work as well where you have very strong social networks already in place?”

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The AC Announces Major Expansion

Reactor provides space for 30+ early-stage tech companies

00392P_accelerator_centre_018Today, we are excited to formally announce a major expansion of our facilities and services to better serve early stage companies and entrepreneurs within Waterloo Region.

Reactor, our new 8,000 square foot facility located in the Innotech Building in the David Johnston Research + Technology Park, represents a significant expansion in both space and capacity for us. Dedicated to early-stage clients in the AC Momentum program, Reactor nearly doubles the number of companies that the AC will house, allowing us to help even more technology businesses.

“AC Momentum was launched in the fall of 2014 to address the growing number of early-stage companies that were coming to us, but weren’t ready to enter our flagship Accelerator Program,” explains CEO Paul Salvini. “We could see the tremendous potential of these companies and, rather than turn them away, we created AC Momentum and developed a one-year curriculum that is tailored to the needs of early-stage companies; validating their idea and preparing them to enter the Accelerator Program and start scaling their business.”

“There are limited resources for an early-stage company and as an entrepreneur, it can be challenging to play every role, from product development to marketing, by yourselves,” says Peter Whitby, CEO of O2 Canada. “But through AC Momentum we have a place to develop our technology and access to expertise in those key areas that allow us to make the best decisions as we build our business from the ground up.”

Leveraging research from the University of Waterloo’s Air Pollution Research and Innovation Lab, Whitby and his Co-founders, Brandon Leonard and Rich Szasz, are working in Reactor to develop the world’s first connected respirator, with a replaceable smart filter and accompanying application for monitoring and tracking.

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AC Momentum was initially housed in a 1700 sq. foot space within our existing building. However, that space filled quickly and demand continued to rise. Working in partnership with Cora Developments, we were able to carve out a new home for the program – one that is more than four times larger than the original space, offering start-ups an open concept space built around the theme of creative interaction. In total, Reactor will house approximately 30 companies.

“The Reactor expansion would not have been possible without the support of Cora Developments, the City of Waterloo, the Canada Accelerator Incubator Program, the Campus-Linked Accelerator Program, and The Cowan Foundation, whose generous contributions have allowed the AC to expand support for early-stage innovation,” notes Salvini.

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Nicoya Lifesciences, RENOMii and TeTechS Graduate

IMG_20150618_103540Continuing to build on our track record of transforming start-ups into world-class technology businesses, the AC is pleased to announce the graduation of Nicoya Lifesciences, RENOMii and TeTechS from our rigorous incubation program.

Nicoya Lifesciences is leveraging the power and potential of nanotechnology to create affordable analysis instrumentation for medical researchers. Founded by University of Waterloo researcher Ryan Denomme, Nicoya’s OpenSPR personal label-free biomolecular analysis instrument is easy to use, compact and affordable, making it highly accessible equipment for any lab to own.

For contractors and renovators, RENOMii has created a simple-to-use web app to manage and track change order requests and client communication. The company is the brainchild of co-founders Scott Barker and Kara Smith, who realized that home renovators were missing a simple-to-use tool to eliminate most of the stress created by miscommunication between contractors and their clients. The RENOMii team has recently teamed up with Home Hardware Stores Ltd., to offer the RENOMii software program in Home Hardware stores across Canada.

The terahertz vision sensor technology of TeTechS uses terahertz waves to find previously undetectable objects and defects in advanced manufacturing processes, solving customer problems that cannot be addressed using visible, infrared and x-ray vision sensors. Founded by University of Waterloo PhD, Daryoosh Saeedkia, TeTechS was recently nominated for a 2015 Business Innovation Award by the Greater Kitchener-Waterloo Chamber of Commerce. The company’s terahertz sensors will also soon be featured on Discovery Channel’s How It’s Made program.

“Once again we are graduating companies from our program that represent a wide diversity of technologies and industries,” says Paul Salvini, CEO of the Accelerator Centre. “While the industries served and problems addressed by Nicoya, RENOMii and TeTechS are vastly different, each company has leveraged their experience at the Accelerator Centre to build a strong and sustainable business, with the potential for large-scale growth and impact.”

The AC is dedicated to building and commercializing technology start-ups. We provide an essential combination of mentorship, educational programming, professional office space, networking, and access to funding, with a goal of building successful companies. Over a two- to three-year period, we help entrepreneurs move from start-up to scale-up, accelerate their time to market, and attract customers, investment and revenue.

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Ear-o-Smart named one of the top wearables

IMG_6106Smart jewellery is fast becoming a top wearable tech trend, and is proving to be one of the best ways to get the benefits of smartwatches and fitness trackers, without having to wear a dull slab of plastic on your arm.

Wareable, a website dedicated to wearable technology, listed AC Clients Biosensive‘s Ear-O-Smart as one their eight top wearable products.

“Most fitness monitors are limited to wrist-based electronics, but do you really want to wear a bulky wrist monitor to a party or a meeting?” says Ravinder Saini, CEO of Biosensive. “”We believe that wearable electronics should be embedded into the products we use in our everyday lives, and for that reason, we created Ear-o-Smart, a product designed to fit seamlessly into your life.”

Ear-o-smart is the world’s first smart earring, which lets you monitor and track your health vitals. The earring tracks activity, calories burned and heart rate, and syncs this to iPhone or Android.

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Emphasizing the need for financial literacy

The AC  and Startup Waterloo Region partnered to help entrepreneurs and small business owners in Waterloo Region increase their financial management skills.

Sponsored by the Accelerator Centre and the Waterloo Region Small Business Centre, the event was held on May 21, 2015 at the Accelerator Centre and featured CPA learning sessions, networking opportunities, keynote speakers, and peer mentorship.

The event connected entrepreneurs and small business owners with keynote speakers including Waterloo Innovation Network’s Michael Wekerle and Brenda Halloran, who spoke about their personal successes and lessons learned. Participants also connected with chartered professional accountants, Waterloo Region Small Business Centre advisors and other mentors including the AC’s Kevin Elop and Michael Peace, business development manager for Futurpreneur and small business advisors from TD Canada Trust.

The initiative is part of a nation-wide financial literacy program presented by Startup Canada, a national, entrepreneur-led movement supporting the development of vibrant startup communities, and Intuit Canada, a leading provider of business, financial and tax management solutions for small & mid-sized businesses. The goal of the program is to close the financial literacy gap for entrepreneurs and empower them to pursue sustainable, scalable businesses opportunities that create value for the local community through job creation and revenue generation.

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Accelerator Centre receives donation from The Cowan Foundation

The Cowan Foundation celebrates 20 years with donations of $20,000 to ten charities

The Accelerator Centre is honoured to receive a donation of $20,000 from The Cowan Foundation to develop early-stage technology companies through our AC Momentum program. This support of The Cowan Foundation enables us to continue our intensive focusing on helping start-ups validate their idea and set the foundation for building a successful business.

“Cowan Insurance Group has been a great partner for the Accelerator Centre, helping to meet our clients’ needs and supporting our initiatives,” said Paul Salvini, CEO, Accelerator Centre. “This donation from The Cowan Foundation allows us to strengthen our programming for the companies we work with, helping us to continue providing the rigorous mentorship that will grow their ideas into strong, sustainable businesses.”

Below is the press release from The Cowan Foundation.

The Cowan Foundation Celebrates 20 Years and 20 Million Dollars!

2015 marks a momentous year for The Cowan Foundation as we celebrate two significant milestones – 20 years of building community and 20 million dollars in donations.

“The Cowan Foundation was started in 1995 in honour of Frank Cowan, the founder of Frank Cowan Company  and Cowan Insurance Group”, said Maureen Cowan, Chairman and Co-CEO Princeton Holdings Limited and Chairman of The Cowan Foundation.  “Although basking in accolades would have gone against his grain, we would be remiss if we didn’t offer him deserved thanks for placing such importance on building community where we do business. This strong focus on our community is an important part of the culture across the Princeton Holdings group of companies.”

“Over the past 20 years, The Cowan Foundation has made a significant impact in Canadian communities, supporting approximately 450 charitable organizations,” explained Terry Reidel, Executive Director, The Cowan Foundation.   “As our Operating Companies, including Cowan Insurance Group (and its subsidiaries: The Williamson Group, Millennium CreditRisk Management, Wentworth Financial Services and Cowan Financial Solutions), Frank Cowan Company, The Guarantee Company of North America, Cowan Asset Management, and Fountain Street Finance continue to grow and evolve, we look forward to continuing to partner with, and support, charities that matter to our employees, business partners, and clients, and that contribute to the well-being of Canadian communities.”

It has been a busy two decades full of partnership and positive impact, however our anniversary is not only about remembering the past, it is also about shaping the future.  To celebrate this important milestone, in addition to the planned 2015 contributions, The Cowan Foundation has donated $20,000 to each of the following ten charitable organizations in Canada:

Please click here to read the full press release that includes detailed information about the ten charities we are supporting.

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The AC's Joani Gerber appointed VP, Operations

team_joaniThere is a lot of exciting change on the horizon for the Accelerator Centre, and as we begin to execute on our strategic growth plans, venturing into new space and expanding our programming, we are also excited to share some updates about the growth and evolution of the AC team.

You may have read about our newest mentor, Steve Fyke, whose emphasis on design strategy has certainly resonated with our Clients. We’ve also had the great fortune to welcome Alan Quarry, who recently joined the AC as Brand Architect.

As we evolve as an organization, we have also found the need to develop the AC team. In that regard, we’re pleased to announce that Joani Gerber has accepted a new role as VP, Operations with the AC. In her new role Joani will be focused on oversight of facilities planning and management, coordination of human resource processes and policies, management of the Stratford Accelerator Centre, and a number of related accountabilities.

Joani brings over 10 years of accounting, entrepreneurship and Government programming experience and has been a highly valued member of the AC team as our Director, Operations at the Stratford AC campus for the last two years.

Joani holds a degree from Wilfrid Laurier University and certificates in Accounting and Human Resource Management from Fanshawe College. She spent over 10 years supporting entrepreneurship in Stratford, St. Marys, and Perth County working with the Stratford-Perth Centre for Business and the Perth Community Futures.

We’re excited to have Joani as part of the AC team in this new role and look forward to sharing more great news with you in the near future!

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Alan Quarry joins the Accelerator Centre!

Alan QuarryThe Accelerator Centre is excited to announce that brand strategist and marketing pioneer Alan Quarry has joined the AC as Brand Architect.

Alan will spend every Wednesday working with AC Clients as a sounding board, helping to develop and execute their brand strategy. Alan’s presence is an excellent complement to our team of AC mentors, all of whom are dedicated to helping the brightest startups build and scale their businesses.

Alan will also work with the AC’s leadership team, consulting on our own brand as we execute our strategic growth plans in the coming year.

For those unfamiliar with him, Alan is a gifted brand architect and brings to the AC a formidable level of experience. He serves as the Chairman of a 100 plus person team focused on helping Quarry Integrated Communications clients build their business.

Alan has served as director of the Institute of Canadian Advertising and is a past president (twice) of the Trans Canada Advertising Agency Network. He teaches fourth-year Marketing Communications and MBA courses at Wilfrid Laurier University, was an instructor for three years in University of Windsor’s Executive MBA program, and also the WLU Entrepreneur In Residence in 2010, 2011 and 2013.

We’re thrilled to have Alan as a part of the AC team as we continue to grow and work to develop the next generation of leading Canadian technology companies.