Communitech's Hyperdrive incubator has opened applications for its third cohort of startups.
Since its creation a year ago, Hyperdrive has admitted 18 companies in two cohorts of a $30-million program based at the Communitech Hub in Kitchener.
According to Hyperdrive, these startups have created more than 70 jobs, raised more than $2.5 million in investment, and generated more than $500,000 in revenue.
RELATED: Check Out Hyperdrive's Second Cohort
"Our focus is to help early-stage companies grow into sustainable businesses," says Doug Cooper, Hyperdrive's Managing Director. "Our mission is to take companies from seed stage to Series-A investment ready in 24 months."
Hyperdrive starts with a "rigorous three-month sprint," in which startups focus on validating their markets and acquiring customers. The companies then spend nine months refining their businesses and building sales channels, followed by a full year of scaling up operations.
Apply to Hyperdrive Cohort 3 here.