Communitech Tweaks Hyperdrive Ahead of Third Cohort

Posted by Techvibes NewsDesk

Waterloo-based Communitech announced recently that it's making some changes to its Hyperdrive accelerator ahead of its third cohort of startups.

Here are the changes being made to Hyperdrive:

• The program is being extended to six months, divided into a three-month sprint (with a demo day and investment up to $150,000) and then three months of sales and marketing growth.

• A second demo day "to engage a broader group of potential investors."

• A new advisory group "to ensure the program remains globally competitive."

• The one-week trip to New York has been shifted to after the first demo day.

SEE ALSO: A Breakdown of Canada's Eight Biggest Startup Accelerators

“We have realized for a while that traditional seed-accelerators don’t go far enough.  ]Companies need to transition into a sales and marketing mindset as soon as they have validated their business model," says the program's managing director, Doug Cooper. “We have also increased the use of best of breed tools like Steve Blank’s business model canvas and Startup Genome to increase the effectiveness of the program and allow ourselves to be more data driven."

Since its creation in 2012, Hyperdrive has admitted 18 companies to its first two cohorts. These startups have raised $3.7 million and created over 70 jobs.

Company:
Communitech
Website:
http://www.communitech.ca
Location:
Waterloo, Ontario, Canada

Communitech is located in Waterloo Region, 110 kilometres (66 miles) west of Toronto, Ontario, Canada in an area that includes the cities of Kitchener and Waterloo. Communitech is the regional hub for the commercialization of innovative technologies supporting and building a Southwestern Ontario tech cluster of close to 1,000 companies that now generates more than $30B in revenue. A member of the Ontario Network... more

Company:
Communitech HYPERDRIVE
Website:
http://hyperdrive.communitech.ca
Location:
Kitchener-Waterloo, Ontario, Canada

Communitech HYPERDRIVE is a startup incubator that provides enhanced mentorship and other life cycle services to early-stage tech companies. The goal of the program is to maximize the ability of these companies to commercialize innovations and prepare them for investment opportunities. The program also enables 'soft landings' for experience in foreign markets, and higher visibility for investment sources and... more


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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email... more



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