Waterloo's Communitech announced this morning that their Venture Services program is expanding to support the growing number of startups relying on Communitech for commercialization expertise. The Venture Services program provides expertise and resources to startup companies, engaging executive-level talent from the Region.
According to Communitech CEO Iain Kugman, more than 250 early-stage companies are actively engaged with the Venture Services Program, up from 50 since the inception of the EIR program five years ago. And in 2010, more than 7000 hours were spent by EIRs coaching startups.
Communitech continually seeds its Executives-in-Residence team with high-level executives who have experience in “C-level” jobs and can coach startup tech firms, and the program has expanded from one to a complement of six EIRs. Each EIR has experience and expertise in a particular sector and a capability essential to business success. Entrepreneurs work with the team of advisors best suited to their business, and have access not only to the expertise needed, but also resources and connections across a range of disciplines and sectors.
Communitech's announcement is timely for Vancouverites as well as BCTIA is hosting Klugman and other Accelerator advocates for a panel discussion on April 19th titled Accelerator Programs... do they really work?
Apparently they work very well in Waterloo!