BCIC and Wavefront, a Canadian wireless commercialization centre, have launched the second annual entrepreneurship@Wavefront Program today.
A 12-month program, entrepreneurship@Wavefront is designed to support and nurture early-stage B.C. wireless companies from product concept to market entry. After a successful pilot, the accelerator program is expanding to support 12 companies this year and will be working closely with the BC Regional Science and Technology Network to increase accessibility of the program for participants outside the Lower Mainland.
“The first year program enabled eight entrepreneurs to turn their product ideas into successful emerging wireless companies,” said Mark Payne, Acting CEO of BCIC. “Wavefront has done a great job working with these startups in our program, which have collectively generated over half a million dollars in external investment, over $350,000 in revenues, 18 new jobs, and new products that are penetrating growing markets.”
Among the first year graduating class is Vancouver-based RewardLoop, this year’s B.C. TIA Award winner for "Most Promising Startup."
"The entrepreneurship@Wavefront was the catalyst that enabled us to work full time on bringing RewardLoop to market. We have already signed deals with some of North America’s largest retail chains and are expanding our reach through international distribution partnerships," said Nigel Malkin, CEO and Co-Founder, RewardLoop. “The guidance, feedback, and support we've received from the program at Wavefront were invaluable to us in making these accomplishments possible in such a short period of time.”
Companies selected this year will receive office space in Wavefront’s downtown accelerator centre, access to their wireless expert advisory, training, and testing services, as well as sales and marketing coaching and connections to key industry contacts. Program participants also benefit from BCIC’s Mentor Program, a network of seasoned entrepreneurs and industry experts who provide entrepreneurs with support that is critical for growing a successful company.
“The wireless solutions being developed by the entrepreneurship@Wavefront companies span from Machine-to-Machine (M2M) to next generation networks to enterprise applications that address issues faced across many industries. We continue to work closely with BCIC to ensure cross-sector opportunities, creating an environment within our accelerator centre that fosters collaboration and success,” said Jim Maynard, President of Wavefront.
The deadline for applications is Friday, August 26th at midnight. Selected companies will be announced September 7, 2011 with the program and access to Wavefront’s downtown Vancouver offices beginning immediately after.