AC Highlights from OCE Discovery 2015

AC Clients and Grads shine at the annual innovation showcase

Every year OCE Discovery, one of Canada’s leading showcases for cutting-edge technology, brings together over 3000 innovators, partners, and supporters to talk about big ideas, new trends, and the latest advancements in tech entrepreneurship.

The Accelerator Centre had a centre stage footprint as part of the Made in Waterloo Region booth along side our local partners at UW, WLU, Cowan Insurance, Square, TEN, and Communitech.

Particular AC highlights included,

It was also exciting to see so many AC Clients and Graduates showcased at the conference, getting a well-deserved spotlight on their innovations, including:

As well as AC JumpStart Clients NGTronix and Konectera and AC Grad TrustPoint.

Here are a few photos from the conference.

Helping define success in Waterloo

Video series looks at why entrepreneurs are choosing Waterloo

Today the City of Waterloo launched a five-part video series, entitled Why Waterloo, aimed at explaining Waterloo’s growing appeal.

“There is a buzz about our city and we all feel it,” said Mayor Jaworsky during this year’s state of the city address. “Whether we are long-time residents, established community leaders, young students…or youth about to embark on their post-secondary journey, we all know that Waterloo is the place to be.”

In the series, a selection of local businesses spanning different industries are asked to share what being in Waterloo means to their organization.  Common themes like talent, collaboration, support and quality of life are prevalent throughout the series.

We’re excited that the first installment showcases the Accelerator Centre. Watch as Paul Salvini, CEO and Shane Pegg, VP Strategic Initiatives answer the global question: Why Waterloo?

Having just received $8 million in funding from the Federal Economic Development Agency for Southwestern Ontario to support AC JumpStart, and an additional $200,000 over four years from Waterloo city council, the AC is set to expand; supporting more clients, more graduates, and making a bigger impact in the community. For more information about the Accelerator Centre, visit acceleratorcentre.com.

For more information about the city’s economic development initiatives, visit wearewaterloo.ca.

Accelerator Centre growth fueled by City of Waterloo investment

City contribution of $200,000 allows the AC to make a bigger impact

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Today, City of Waterloo council approved a grant of $50,000 annually from 2015 to 2018 for the Accelerator Centre to support plans for expansion in the community and allow the AC to continue growing strong, sustainable companies in Waterloo Region.

“With close to one-third of our population consisting of students, Waterloo has a deep labour pool of highly-trained, educated, skilled professionals and entrepreneurs,” says Justin McFadden, executive director of economic development, City of Waterloo.  “It’s important to our community that we keep this talent pool here in order to leverage these skills and entrepreneurship in order to maintain our position of leadership as a dynamic technology and innovation hub.”

“We’re pleased to have the ongoing support of the City as we seek to increase our impact in helping entrepreneurs build and scale their businesses here in Waterloo,” says Paul Salvini, CEO of the   Accelerator Centre. “I believe the strong partnership we see from the City of Waterloo is central to why so many of our graduates choose to develop their businesses here.”

The Accelerator Centre has mentored over 130 early-stage start-ups that have created 1300 new jobs, and generated $400 million in revenue and funding. Of the 45 companies that have graduated from the Accelerator Program, more than 85 percent have remained in Waterloo region.

For more information about the city’s economic development initiatives, visit wearewaterloo.ca. For information about the Accelerator Centre’s programs, visit acceleratorcentre.com/programs.

CABI Summit deepens connections between Canada’s Incubators

On March 30, over 40 members of the Canadian Association of Business Incubators (CABI) came together in Waterloo for the first CABI Leadership Summit to talk about the future of incubation/acceleration and how we can continue to support the development and growth of successful businesses.

The Accelerator Centre hosted representatives from across Canada, including Vancouver, St. John’s, Winnipeg, and Whitehorse, for a series of panel discussions that looked at:

  • How are accelerators & business incubators collaborating?
  • Open data and cyber security
  • The role of universities in incubation
  • Creative funding models
  • How to connect and leverage maker and hacker spaces
  • Are Canadian accelerators and business incubators making a positive impact?
  • Global trends and national best practices

Particular highlights were the keynote session with Pat Riley, CEO, Global Accelerator Network, and a research presentation from Waterloo’s DEEP Centre policy think tank.

Social entrepreneurship pitch contest supports next big idea

The AC’s Andrew Jackson helps select the winners of the Big Ideas Challenge

A company that uses smartphone technology to improve vision care in India was among the big winners at a pitch competition designed to elicit big ideas in health and well-being. EyeCheck, a for-profit vision-care company, won mentorship and access to AC Pathfinder, a market validation platform developed by the Accelerator Centre, at the inaugural Big Ideas Challenge for Health and Wellbeing at the University of Waterloo this week. It uses smartphone technology and proprietary hardware to provide much-needed vision assessment in India with just two pictures.

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Tania Del Matto of St. Paul’s GreenHouse, Rachel Friesen of EyeCheck and Andrew Jackson of the Accelerator Centre.

The other winning pitches consisted of ways to address mental health issues among students, heart-friendly meal delivery and meaningful leisure for older adults, and support for breast cancer survivors. They each received the grand prize of a term’s stay in St. Paul’s GreenHouse, the first and only live-in campus-linked accelerator in Canada focused on social innovation and entrepreneurship.

“The Big Ideas Challenge for Health and Wellbeing was intended to encourage undergraduate students to develop innovative interventions, for which the primary purpose is to improve the quality of life of individuals or communities,” said Tania Del Matto, director of GreenHouse.

“We’re proud to partner with St’ Paul’s to encourage social innovation”, added Andrew Jackson, VP, Client Services at the Accelerator Centre. “It’s encouraging to see a group of young entrepreneurs building businesses aimed at addressing difficult challenges.”

About the winners:

• Marlena – Committed to meaningful leisure for older adults of all abilities by creating books to meet the needs of older adults with Alzheimer’s, dementia, and other conditions.

• Panic, Anxiety, & Stress, Support (PASS) kit – A first aid kit for mental health and wellbeing to address the increasing incidence of mental health issues among students.

• Heart Helpers – A non-profit, heart-healthy meal delivery program that offers older adults at risk or living with cardiovascular disease a simple, inexpensive way to reduce their risk factors by modifying their diet.

• Node– Offering smart, beautifully designed, custom-fit compression sleeves for breast cancer survivors suffering from lymphedema.

The Faculty of Applied Health Sciences is hosting the program in partnership with St. Paul’s GreenHouse.

Eventastic Launches Cutting-Edge Event Management Platform

Eventastic, an AC Graduate specializing in online ticketing, launched their new event management platform today.

The innovative site offers features that tailor to user-experience and functionality.

“The new platform offers customizable event websites, that are faster and simpler to create, with additional E-Commerce security,” explains Eventastic’s President, Randy Bird. “However, the pièce de résistance is the all new SaaS model that allows users to drive revenue, data, or donations through their company and events!”

The new platform was developed to improve customer experience, and increase awareness of the many services and features Eventastic offers. The design and functionality align with the high standard Eventastic has set within the event industry.

“Over the last year, we’ve been developing, at great expense, this user-centric platform; it wildly surpasses our beta platform. We’ve been ready to launch for weeks but waited. We weren’t going to launch it until it was perfect,” says Bird. “Perfect being defined as automatic in simplicity.”

Since its soft launch in 2014, Eventastic has graduated from the Accelerator Centre, relocated into its own local office, and has hosted more than 10,000 worldwide events on their site, from small parties to large conferences in unique venues, proving that this new event website is just one of Eventastic’s many successes.

You can explore the new platform by visiting www.eventastic.com.

RENOMii inks exclusive Canadian agreement with Home Hardware

Easy-To-Use Web Software available through Home Hardware Building Centres

RENOMii_logoHome Hardware Stores Ltd., Canada’s largest dealer-owned hardware, lumber, building materials and furniture cooperative, has entered into an exclusive agreement with RENOMii Corp. to sell an easy-to-use web software program to facilitate better communication between contractors/renovators and their customers.

The RENOMii change order manager and customer communications application is a Cloud-based tool that keeps the lines of communications open between home owners and contractors, custom home builders and renovators.

Said RENOMii co-founder and CEO Scott Baker, “Our application will keep everyone on the same page during a home renovation or home build, and keep the associated costs under control.”

RENOMii will be available in every Home Hardware Building Centre across Canada. Accessible in most locations by the second quarter of this year, RENOMii will introduce a French version for the Quebec market in the second half of 2015.

RENOMii’s solution for contractors is available online with two suggested retail pricing options.  The RENO is a $99. per project fee which gives contractors 100MB of storage, free support and the ability to add unlimited users. RENO ELITE is $1,299 per year or $125 per month and gives contractors unlimited projects, 500 MB of storage and free support.

” With our exclusive partnership with RENOMii, Home Hardware is proud to deliver on state-of-the-art technologies and services that our contractors and customers have grown to expect, says Sandy Palmer, Allied Building Product Manager with Home Hardware Stores Limited. RENOMii gives contractors, custom home builders and renovators direct access to our quality materials and expert advice as well as the tools they need to deliver on superior renovation and home improvement projects to home owners.

Adds RENOMii co-founder and COO Kara Smith, “Home Hardware has a long-standing tradition of trust with contractors, renovators, builders and homeowners.  We build on that trust, and being supported by Canada’s best-known and respected suppliers of materials, it will only help strengthen the trust contractors, custom home builders and renovators have with homeowners, and grow their business.”

Compatible on any mobile device, RENOMii is simple to use and does not require any specialty software. Contractors create a project in the program and invite the homeowner to review. The homeowner receives a notification from RENOMii which allows them to approve or reject any changes to the project as well as viewing the cost. These changes are directly communicated to the contractor and a record is generated with communications and approvals available for review at any time.

A complete story is great. An incomplete story is better.

Steve Fyke, the AC’s Design Strategy Mentor, on the importance of human-centred design

Steven_FykeWhen it comes to creating a great product, Steve Fyke, the Accelerator Centre’s newest mentor, finds himself saying the same thing almost every day: you can’t trust your intuition.

“Intuition is based on personal experience,” says Fyke. “What you see as intuitive isn’t necessarily the same for other people. If someone else has a very different set of experiences, they won’t have the same sense of what’s intuitive.”

With over 15 years of mechanical, industrial, and design strategy experience, he knows his stuff. Fyke has led a number of advanced research and development projects, most of which looked at integrating emerging technologies into existing systems to improve user experience.

It was during this research that he started to see a major flaw in how many people approach design: they tend to develop new technologies and figure out what problem they’re trying to solve afterward.

“It’s more important to focus on solving a problem from the beginning,” says Fyke. “I started to change my approach by looking at how I could apply new or existing technologies to human problems. Then I’d build a solution based on what I learned.”

So what does good design look like?

“There’s no question that it’s important to have a solid engineering foundation when you’re developing a product,” he says. “But I’ve found that the more you focus on what people need the more likely you are to design something that people enjoy using.”

That’s why he encourages companies to take a human-centred approach to product development: find the human element in a problem and create a compelling story to clearly explain how the product will solve that problem.

“I was impressed with Steve’s approach right away,” says Andre Bodo, CEO of Kineris Inc. “He’s challenged us to think from the patient’s perspective; to see how our product will be part of their life.”

Kineris, a current AC client, is a medical device design firm, dedicated to improving patient care through technology. Their user-friendly SmartBrace™ encourages recovery by allowing patients and care providers to track progress and set goals.

“Working with Steve has enabled us to streamline our product and increase our efficiency,” adds Bodo.  “Most significantly he’s helped us to design a product that tells a story of recovery rather than one of injury.”

Fyke believes that stories are integral to designing a product because people relate to them. “You can create a product that is technically well designed,” he says, “but if you can’t tell the customer how it helps them, they’re not going to want it – they can’t see it fitting into their lives.”

The trick is to tell a story that’s not quite complete – a story with a few holes built into it. “Sometimes people will use your products in ways you never expected. By leaving the story mostly complete it lets your customers fill in the holes with their own experience. That way, instead of your story, it becomes their story – people start to tell their story about your product, and that’s powerful.

At the end of the day, it’s about solving problems and learning new things for Fyke, which is what makes the AC a perfect fit. “I love exploring, learning, and solving problems – mostly solving problems, it’s my favourite thing in the world to do.

“The AC is ideal because it allows me to jump between projects that are at different stages of the development spectrum. Because I have a broad technical background, I can help clients with the design of a product or help tweak their product so that it fits a human need. This allows them to tell that compelling story and get potential customers engaged.”

Of course, the story is never quite complete.

Clearpath Robotics Raises $14 Million Series A Investment

Accelerator Centre Graduate Clearpath Robotics announced today that it has raised a $14 million CAD Series A round from RRE Ventures, with participation from iNovia Capital.

The company also announced that RRE co-founder and managing partner Stuart Ellman will join Clearpath’s board of directors. The influx of funding will be used to grow the company’s work force by as many as 50 people, and increase production of their unmanned vehicles designed to help researchers inspect and map dangerous environments..

Read the full story here.

First AC JumpStart Cohort Announced

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Seventeen early stage companies to benefit from critical seed capital injection and world-class mentorship

The Accelerator Centre® (AC) is proud to announce its first AC JumpStart cohort, the first group of companies to benefit from the $8M funding program, announced January 15th in conjunction with the Federal Economic Development Agency (FedDev Ontario), and partners Conestoga College, the University of Waterloo and Wilfrid Laurier University.

Companies joining the first AC JumpStart Cohort are:

Quick Facts about AC JumpStart

  • Each member of the AC JumpStart first cohort will receive $30,000 in seed capital (to be matched by the recipient firms), mentorship from experts in finance, sales, marketing, human resources, technology and product development, access to market research and connections to investors, with services to be delivered over a 12 month period.
  • This is the first of three cohorts of companies to participate in the program in 2015, followed by two cohorts annually through to the end of 2018.
  • In total, it is expected that 180 companies will participate in the AC JumpStart program over the next four years.
  • Start-ups participating in the 2013 AC JumpStart pilot program have created 212 new jobs in Waterloo Region, have generated $3.1 million in combined revenue and are expected to raise $5 million in private investment.